A new online platform over which buyers and manufacturers can do business, is suggesting that its customers could benefit from a letter of credit (L/C) alternative they are making available.

Tougi Global Clearinghouse claims to provide a real-time, safe, secure and automated web-based platform on which buyers and manufacturers can conduct business.

Guarantees

Tougi, an online trading platform focused on providing access to manufacturers in China and South East Asia to buyers worldwide, says it acts as a middleman, and has the systems to protect and assure buyers that they will receive the commodities they order.

In turn, Tougi says its systems protect manufacturers by ensuring money is available for them to be paid promptly. According to Tougi, manufacturers also receive a detailed daily settlement statement showing the number of products sold.

Recruiting manufacturers

Tougi is a subsidiary of US-based Nettel Holdings Corporation, which says it is an incubator for high technology companies.

The subsidiary says it has signed up over 300 manufacturers from over 7 countries to its service. These manufacturers have posted over 17,000 products on Tougi's web site.

This article represents the views of the author and not necessarily those of the ICC or any of the other partners in DC-PRO.