The US financing company, CIT, today announced the establishment with Taiwan’s Bank Sinopac and C-ME (Cyber Merchants Exchange) of a tri-party financial platform. This agreement will eliminate the need for letters of credit by allowing exporters in Taiwan to ship merchandise to pre-approved retailers in the USA.
Through this arrangement, each party will make an essential contribution to expedite transactions between an exporter and retailer whilst guaranteeing that the terms of the contract are fulfilled. Each party will play a vital role:
