News!
January 25, 2000 09:15
Actrade Capital, Inc. and ProNetLink.com Announce Partnership to Facilitate Online B-to-B Transactions
Alliance will Offer a Payment Solution for Large Online Commercial Transactions
SOMERSET, N.J., Jan. 25 /PRNewswire/ -- Actrade Capital, Inc., a subsidiary of Actrade International Ltd. (Nasdaq: ACRT), and ProNetLink.com, the Global Trade Internetwork(TM) (OTC Bulletin Board: PNLK) have entered into an agreement to make Actrade's patented Trade Acceptance Draft (TAD(TM)) Program available to commercial suppliers and buyers who conduct transactions on the ProNetLink.com Web site.
The TAD Program is a standardized business-to-business payment option that facilitates large online commercial transactions and strengthens relationships between suppliers and buyers. The TAD Program satisfies the basic concerns of any online commercial transaction: financing, credit risk, collections and security. Further strengthening its Internet applicability, the TAD Program's patented encoding process allows TADs to process through the banking system, similarly to the way a check is processed.
Under the terms of the agreement, ProNetLink will offer Actrade's TAD Program to its qualified members via its Web site. ProNet Link will build customized pages into its' Web site, which will provide complete information and access to the TAD Program.
"This deal is about improving the process of online business-to-business transactions," noted Glenn Zagoren, chairman of ProNetLink.com. "Quite often, consummating an agreement reached via the Internet is a difficult process, with payment methods frequently being the primary source of apprehension among both suppliers and buyers. With the TAD program, ProNetLink.com is the first business-to-business international trade Web site to offer proven financial functionality to its members. We look forward to working with Actrade to enhance our capabilities and offer a total online solution to the international trade community."
"The Trade Acceptance Draft program truly captures the power and promise of the Internet for the world of commercial trade," commented Alexander C. Stonkus, president of Actrade Capital, Inc. "By providing a quick and convenient payment method online, our agreement with ProNetLink.com will give buyers extended payment terms, unsecured lines of credit and prompt payment discounts. Additionally, the supplier gets an immediate conversion of sales to cash and eliminates collections."
"ProNetLink.com significantly enhances our exposure to the online international trade community," continued Stonkus. "Suppliers anywhere in the world can participate in the TAD Program. Buyers can participate, regardless of location, provided they have a banking relationship in the U.S. or Canada. It's a win-win proposition for all sides of the equation -- ProNetLink, Actrade, buyers and suppliers."
About ProNetLink.com
ProNetLink.com, The Global Trade Internetwork, (OTC Bulletin Board: PNLK) is a comprehensive business-to-business E-commerce portal designed specifically for the international trade community. In addition to locating potential markets and trade partners, ProNetLink.com members may conduct business functions online, participate in live trade event netcasts, communicate in real-time with trading partners and receive the critical information and resources necessary for the continued growth of their businesses.
Headquartered in New York City, ProNetLink.com maintains sales offices throughout the world. For more information, please contact ProNetLink.com at 212-688-8838, email: info@pronetlink.com. ProNetLink can be reached online at pronetlink.com.
About Actrade Capital, Inc.
Actrade Capital, Inc. is a wholly owned subsidiary of Actrade International Ltd. (Nasdaq: ACRT). Actrade's flagship product is the TAD Program.
The patented TAD Program is an unsecured payment method that has become a powerful alternative to "cash" or "open account" methods typically used in B- to-B transactions. With flexible cash flow management features, the TAD Program is a comprehensive B-to-B payment solution. Introduced in 1993, the TAD program has gained acceptance with major multi-national and Fortune 500 U.S. companies.
Headquartered in Somerset, NJ, Actrade Capital, Inc., maintains sales offices in U.S. and Canada through it's subsidiary, Actrade Capital Canada Inc. Parties interested in learning more about Actrade can visit the company's Web site at actrade.com or contact Alexander Stonkus at 732-868-3100 ext. 201, email: ACS@Actrade.com
SOURCE Actrade Capital, Inc.
/CONTACT: Alexander C. Stonkus of Actrade Capital, Inc., 732-868-3100
ext. 201, ACS@Actrade.com; or Glenn Zagoren of ProNetLink.com, 212-688-8838,
gz@pronetlink.com/
/Web site: acrt.com
pronetlink.com
(ACRT PNLK)
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