GTC to license its LC Monitor / Trade Services Update data base to banks

Toronto, Canada, March 1, 2011 – GlobalTrade Corporation (GTC) today announced that it will start licensing its LC Monitor/Trade Services Update (TSU) data base to banks for use on their trade finance portals. Since 1999 www.lcmonitor.com has been providing information about the practical aspects of payment instruments in international trade. Over seven hundred articles have been published on trade finance and trade services topics by editors in over thirty countries who handle documentary credits, standby letters of credit, bank guarantees, documentary collections, and the surrounding legal issues on a daily basis. All this knowledge has been organized into a searchable data base that is easy to use. Now this data base is being made available to corporate clients through their respective banks.

Here are some examples of key word search results:

• Silent Confirmation: 30 articles
• UCP 600: 112 articles
• Injunctions: 45 articles
• Documentary Collections: 83 articles
• Standby Letters of Credit: 71 articles
• URDG: 37 articles
• Transferable Letters of Credit: 91 articles
• Assignment of Proceeds: 35 articles
• Supply Chain Finance: 40 articles

‘Our Editor in Chief, Kim Christensen, has assembled an impressive group of global practitioners whose expertise is a tremendous asset to our readers, ‘ said Jacob Katsman, Executive Editor. ‘Banks are looking for ways to provide value to their corporate clients. Offering an information source that is constantly updated by some of the world’s greatest trade finance experts is an excellent opportunity to do just that,’ he added.

Kim Christensen adds: ‘The content of the database is created by the editors, via their contributions to our newsletter, Trade Services Update. You need only to look at the recent issue to see that all the editors are deeply involved on a day-to-day and practical level with the issues covered in the newsletter. You will note also the diversity of regions, cultures, and backgrounds that makes it possible for us to provide a 360 degree check on any topic that we cover.’

About Trade Services Update – LC Monitor

Trade Services Update (TSU) is the only newsletter and searchable on-line database in the world devoted to the topic of trade services. Its purpose is to share the knowledge gained from practical experience. Its editors are top professionals from around the globe who handle documentary credits, standby letters of credit, bank guarantees, documentary collections, and the surrounding legal issues on a daily basis and have their hands on the pulse of the trading world. By reading Trade Services Update you can benefit will learn from their experience, case studies and creative problem solving techniques. TSU is a subsidiary of GlobalTrade Corporation.

About GTC

GlobalTrade Corporation (GTC) is a software developer and applications service provider whose product solutions improve the world of trade finance and trade services. Our @GlobalTrade systems help buyers, sellers, traders, and financial institutions communicate faster and more efficiently while reducing risk and improving monitoring and control. Our customers include both business enterprises that need consolidated access to multiple banks as well as financial institutions that require supply chain finance solutions to meet their clients’ needs. @GlobalTrade™ is the registered trademark of GlobalTrade Corporation.

For more information, please visit: http://www.lcmonitor.com

Media Contact