Internet based international trade

Internet Based International Trade

The streamlining of international trade process was made available to simplify information and data access for SMEs in order to conduct their international trade.To begin with, the system was developed to include the expenses on communication, banking, insurance, and inspection in addition to the traditional production & trading expenses. With the new system for international trade, SMEs can now research the market, pickup leads in a seamless ambience for online transactions.

-International Trade- Internet based product selection

The present system for international trade with a computer and internet requires you to possess an internet connected computer. Importers will visit vendors’ websites; browse specifications for chosen products. Once done, the products of required specifications can be selected and an order form can be generated for just the selected products of the already selected specification. Before you complete the international trade order, the order can be checked and/or corrected for details of product name, quantity, rate and total price. The order can be cancelled if it is unsatisfactory for any reason. Similarly, confirming it requires importers’ information like name, company’s name contact and shipping addresses, insurance, payment details etc.

-International Trade – Providing Payment Details in International Trade

This is the most critical part of online international trade; it requires sensitive information like bank account/credit card and telephone number to be transmitted. To eliminate fears of this information from being intercepted, check the credentials of the websites.

-Use the following foolproof steps to secure your information and payment.

1.Secure websites will have secured protocols like https:// unlike the usual http://

2.When secure pages load, an icon of a lock shows up at either within the address box or right most corner of your browser.

3.Secure pages are certified by agencies like Verisign and Thawte corporations

4.Certificates can be viewed by clicking on the icon of lock to confirm validity and encryption details.

-International Trade System

The computerized system for international trade works through internet and initiates by importers choosing and placing orders on suppliers over their websites. Websites can be owned by a single exporter or collectively by their associations. Processing the trade sends the completed form to a server linking with the particular client’s computer who receives the order. The system works efficiently even for websites with plurality of suppliers and the orders are transmitted to the chosen supplier and is never misdirected. The systems are robust to handle transactions flawlessly and servers are configured to send orders to definite suppliers and a confirmation will be sent you and the whole system will be automatically updated for stock position and lead time data. It provides a secure method, albeit through internet, for international trade and saves time for both buyer and seller and if configured provides a negotiating platform for both buyers and sellers.

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