Global Financial Platform (“GFP”)

The most fair way for international trading

C-Me’s GFP (patent pending) eliminates the need for letters of credit by allowing overseas manufacturers to ship merchandise to pre-approved buyers in the United States.  Letters of credit have historically been the predominant means of payment for international trading.

C-Me pioneered this process by establishing the first tri-party agreement with The CIT Group and Bank SinoPac in Taiwan. By virtue, C-Me acts as an international factoring company.  Overseas manufacturers, buyers, international banks and CIT are linked to C-Me's Global Financial Platform. Through this arrangement, each of the tri-party participants play an integral role. First, CIT guarantees the credit worthiness of the U.S. buyers. Secondly, Bank SinoPac provides working capital financing and acts as the conduit for foreign overseas manufacturers to receive payment. Through C-Me’s GFP that, U.S. buyers can purchase overseas merchandise, just as they purchase domestic merchandise, with open terms and without the need to open Letters of Credit. Overseas manufacturers ship merchandise to pre-approved retailers without payment risk. Overseas manufacturers can also utilize the platform for advancing cash flow from their local bank.
 
LDP Price Quotations

In the international trade, primarily there are three terms used in quoting - (1) FOB, (2) C&F, and (3) CIF.  C-Me promotes Landed Duty Paid (“LDP”).  The benefits of LDP quotation are to eliminate US Buyers as the importer of record and all the hassles associated with it. LDP Price quotation is easy to compare the true cost for the buyer.
 
International Trade Payment Methods

Historically, there are three (3) different kinds of traditional international trade payment methods -   (1) Letter of Credit, (2) DP (Documents Against Payment), and (3) DA (Documents Against Acceptance). C-Me promotes standard payment terms - Net 30 days or longer for International Trade. The Computer and high tech industries successfully purchase overseas merchandise without issuing a L/C, therefore, why can’t our traditional commodity business learn from it and enjoy the benefits.  

Pros and Cons for Buyers and overseas manufacturers

Buyers:

Letters of Credit - If the documents presented have no discrepancies, the issuing bank must pay under the terms of the L/C.  The L/C does not favor the buyer because if the merchandise quality is not acceptable, it will be the buyer’s loss.  Once the issuing bank paid the L/C, the buyer cannot reverse the payment or deduct any charge back from the overseas manufacturers.  

There are millions of dollars in fraud for L/C’s each year, which the buyer and issuing bank are losing due to the overseas manufacturers shipped bad quality merchandise.

When a retailer purchases overseas merchandise with Net 30 days or longer terms under CIT’s guarantee of the buyer’s credit worthiness – it is the most fair and efficient way to do international business.  It is the overseas manufacturer’s responsibility to make sure the quality of the merchandise is as the samples presented to the Buyer.  Buyer will pay CIT when the invoice is due.  If the Buyer does not pay due to financial reasons, CIT will pay.  On the other hand, if the quality of the merchandise received by the Buyer is not as per the samples provided, the Buyer then has the ability to charge back the overseas manufacturers for the disputes. 

Overseas Manufacturers: