JPMorgan Treasury Services is to provide Web access to its integrated global trade document preparation solution TradeDoc.
TradeDoc, which automates the preparation, transmission and negotiation of critical trade documents, is available through JPMorgan's online inquiry system, Trade Information Exchange (Tie). The system includes a built-in comparison engine to identify discrepancies and sends receives documents and messages via the bolero.net trade finance portal.
The platform is offered as an outsourced service, where JPMorgan handles the document preparation for export customers, and as an ASP where customers can can create documents from templates. Third party service providers can also use the TradeDoc to transmit electronic bills of lading.
In addition, the system can be private labelled for other firms that provide outsourced document preparation services.
Paul Simpson, global head of trade services, JPMorgan, says TradeDoc advances the move toward creating 'paperless' trade documents, reducing risk around payments and eliminating delays that often impact the delivery of goods in port.