NEWS & EVENTS

PRESS RELEASE

With Recession Driving Growth, Trade Technologies Opens New Office in New England

Trade Technologies' Ability to Accelerate International Payments is a Crucial Tool for Companies in Economic Downturn

December, 2008/AUSTIN, TX—Trade Technologies, the global leader in international document solutions, announced the opening of its first New England office. It will be Trade Technologies' seventh office within the U.S. and its ninth worldwide.

"When credit is constrained, strong collections practices and liquidity are absolutely essential to successful international operations. Use of international letters of credit is increasing as global risk rises. Trade Technologies' services, expertise and software dramatically accelerate payment and provide visibility and certainty in an uncertain time," said Kirk Lundburg, CEO of Trade Technologies.

Co-directors of the new office are Sarah Dawson, formerly of Quality LC, a company specializing in document preparation for letters of credit based in San Carlos, CA, and Monika Olken, formerly of Prime Tanning, a major leather exporter based in Berwick, ME.  Together, Ms. Dawson and Ms. Olken have almost 40 years of international letter of credit and trade documentation experience.

"We are extremely fortunate to bring these two highly-qualified professionals together to open our office in this very important export market," Lundburg said. "We have a number of customers in the New England area already.  This office demonstrates our commitment to helping exporters and forwarders in this very important region streamline their operations and prosper during this difficult downturn. 

Trade Technologies is changing international payment practices that, until recently, relied on the paper-heavy process that had changed little since the days of Marco Polo. The company's web-based Global Trade Management Platform and professional outsourced services lead the way in enabling exporters and freight forwarders to create accurate trade documents and to deliver original documents over the Internet to major international trade banks and buyers. This far more efficient process allows customers to streamline their operations, eliminate discrepancies, save money and accelerate payments.

Trade Technologies was founded in 1999.  Over 1000 exporters, global trade banks and freight forwarders rely on Trade Technologies' software and outsourced services to process billions of dollars of international trade transactions each year.

Trade Technologies has offices in Atlanta, Austin, Boston, Chicago, Hong Kong, Houston, Istanbul, London, Los Angeles, Mumbai, New York, San Francisco, and Singapore.

About Trade Technologies

Founded in 1999, Trade Technologies (www.tradetechnologies.com) is the largest global provider of trade document services and software. From its offices in Asia, Europe and North America, Trade Technologies provides leading exporters, freight forwarders and international trade banks with trade document solutions, training and consulting.

The Company’s web-based TradeSharp platform and outsourced services enable customers to streamline their operations, save money, accelerate payments, and eliminate discrepancies traditionally involved in international letter of credit, documentary collections and open account transactions. More than 1,500 exporters, global trade banks and freight forwarders depend on Trade Technologies’ services to process almost $10 billion in international trade transactions each year. Globally, Trade Technologies is presenting original letter of credit and other trade documents online to 66 examination offices of 24 banks in 13 countries.

Trade Technologies was named by Silicon Review as one of the “50 Smartest Companies of the Year 2016.” In 2015, Trade Technologies was awarded the Presidential “E” Star Award for Export Services by the U.S. Department of Commerce and was selected by CIO Review Magazine for its annual list of the 20 Most Promising Banking Technology Solution Providers. Trade Technologies was voted the “Best Trade Tech Solutions Company” in 2012 by readers of Trade Finance Magazine. In 2011, Trade Technologies won the Presidential “E” Award for Exports through the U.S. Department of Commerce, the highest recognition any U.S. entity may receive for supporting export growth. In 2010, the Company was awarded a patent on the TradeSharp software platform and process.