Successful Completion of an Escrow Transaction for Commodity Trade, Executed by Baltic Exchange and TradeFlow Capital
The Baltic Exchange Limited, a maritime membership and information organization, and the TradeFlow Capital Management have completed an escrow transaction involving a shipment from India to China, trading agricultural commodities.
This transaction has paved the way for adopting the latest innovations, such as online payments and digital exchange of ownership of tangible goods. The best part is that these transactions are very secure and can be done quickly.
The Small and Mid-size Enterprises (SME) are said to benefit enormously from this new era that has begun. TradeFlow’s CEO and CIO, Dr Tom James, said that the company aimed to enable SMEs to trade globally, which has been accomplished by partnering with Baltic Exchange.
The incredible use of escrow for commodity export trade has opened opportunities for SMEs to carry out such transactions, bringing in Billions of Dollars every year. If such transactions were to be done in a traditional approach, a lot of time would have been consumed, with the capital being tied up for a while, eventually incurring higher costs.
The TradeFlow Capital Management has always been working on eliminating the risks SME companies face while carrying out transactions related to import/export by applying the latest technology to solve them. Partnering with Baltic Exchange was like enlarging TradeFlow Capital’s existing services. The CEO (TradeFlow) himself mentioned that the services provided by Baltic Exchange are very much compatible with their unique approaches.
The initiative taken up by both the companies embraces innovation, triggering a new beginning by introducing a technology-based infrastructure for carrying out trade transactions at a global scale by digitizing the system.