2 mytrade2cash.com mytrade2cash.com is an all-in-one-site and portal for trade finance. It facilitates the online export credit financing for open account trading, overseas buyers checking, trade documents management, cash drawdown and loan settlement. mytrade2cash.com aims to streamline, simplify and improve the access to funding for the exporters, an enablement for business expansion in the international market. It assists to minimize the business risks and increases the bank s confidence to extend credit line. In addition, mytrade2cash.com provides the compliance checking of data integrity from underlying trading and logistics documents, such as commercial invoice, bill of lading and customs declaration data. Together, these features provide a strong backbone for banks to offer alternative forms of trade financing. Trade Finance Trade finance is the financing of international trade that includes such activities as lending, issuing letters of credit, factoring, export credit and insurance. Companies involved with trade finance include importers and exporters, banks and financiers, insurers and export credit agencies, as well as other service providers. Trade finance is of vital importance to the global economy, with the World Trade Organization estimating that 80 to 90% of global trade is reliant on this method of financing. In its simplest form, trade finance works by reconciling the divergent needs of an exporter and importer. While an exporter would prefer to be paid upfront by the importer for an export shipment, the risk to the importer is that the exporter may simply pocket the payment and refuse shipment. Conversely, if the exporter extends credit to the importer, the latter may refuse to make payment or delay it inordinately. Solution to this dilemma of matching the needs of both exporter and importer can be through various financing solutions available and offered by financial institutions which includes (but not limited to) letters of credit, documentary collection, trade credit insurance, factoring, forfaiting or open account trading. Challenges in Trade Finance Exporters faced issues of high cash flow demand due to inability to obtain credit financing. From day one when a purchase order is issued, they bear with cash flow and payment collection issues that can go up to 270 days. This is also pertinent due to the complexity of the trade cycle in international markets and global demand trend from SWIFT that 80% of buyers prefer open account trading. Challenges faced by SMEs Inadequate or lack of financing from the banks due to low level of disclosure of financial data Risk of default payment from the overseas buyer Abundance of documents involved in international trade that require multiple entries of duplicated data Lack IT investment to streamline the international trade process Challenges faced by banks Lack transparency in trading information which prevent banks to provide trade finance to SMEs, hence losing SME customers High risk to provide financing to SMEs Difficulties to obtain first-hand trading information Problem in verification on the authenticity of the trade transaction
3 Open Account Trading An open account transaction in international trade is a sale where the goods are shipped and delivered before payment is due, which is typically in 30, 60 or 90 days. Obviously, this option is advantageous to the importer in terms of cash flow and cost, but it is consequently a risky option for an exporter. Because of intense competition in export markets, foreign buyers often press exporters for open account terms. It is possible to substantially mitigate the risk of non-payment associated with open account trade by using trade finance techniques such as export credit insurance and factoring. Exporters may also seek export working capital financing to ensure that they have access to financing for production and for credit while waiting for payment. Major Players Online Service Provider mytrade2cash.com is built, operated and maintained by DNEX Hallmark e- Commerce Sdn Bhd to provide secure 24x7 online service and access for the users via the Internet. Built-in with application, approval, payment, document creation and attachment features, all trade finance transactions are performed at your convenience. The portal also has the capability to provide first-hand information on trade transaction reports of the shippers and logistics players to perform verification on the authenticity of a business transaction using its system compliance check. Bank Malayan Banking Berhad (Maybank), Malaysia s premier bank provides the credit financing for the exporter. With the advantage of trade transaction reports received from mytrade2cash.com and buyer credit checks from the credit insurer, Maybank makes informed decision to extend credit to the exporter with confidence. Credit Insurer Credit insurance coverage by the leading credit insurance company in global market, protects the exporter s business against commercial and political risks through services of buyer credit check and credit insurance. Gives exporter confidence to extend credit to new customers and improves access to funding from the bank -- creates more opportunities for international market growth. Financing Eligibility Financing is open to Malaysia incorporated companies that have exported to the overseas market within the last three years. The final eligibility criteria and terms of financing are subject to the financing bank s approval. Key Benefits to Exporter No collateral Buyer risk protection up to 90% of invoice value (subject to the latest credit insurance policy) Convenience at your fingertips electronic submissions Access to document management features for Invoice etc Potential to significant savings in administrative time and resources Access to financing anytime, anywhere Competitive pricing Quick credit approval process within one week (upon submission of full documents) *Terms and conditions apply
4 Major Features of mytrade2cash.com Credit Line Application Exporters apply for credit line financing via mytrade2cash.com and submit the application using buyer information to the credit insurance company and the bank. The bank will contact the exporter to obtain the relevant supporting documents. The credit insurance company and bank will feedback on the approved buyer limits and credit line results via mytrade2cash.com. Cash Drawdown Exporters apply for cash drawdown via mytrade2cash.com. Exporters use their commercial invoice to apply cash drawdown. Exporters prepare and upload a copy of the original commercial invoice (that has been assigned to the bank and sent to the buyer) and insurance policy (if taking insurance coverage), using the trade document management feature before applying for cash drawdown. During cash drawdown application, exporters can easily choose the documents and submit the application to the bank. mytrade2cash.com automatically checks on the information provided against the trade and logistics shipment data such as bill of lading and Customs release message to conduct authentication check. After bank s verification, bank will transfer the money directly to exporter s bank account. For further details, refer to the financing bank s respective Account Managers. Cash Payback Exporters and/or buyers make payment for loan settlement upon end of credit term directly to the bank. Payback information is displayed in mytrade2cash.com. Status Checking and Alerts Exporters view the application and approval statuses in mytrade2cash.com for all transactions. The portal sends alerts to exporters on information on their applications and actions to be taken. Ensure that all addresses provided are up-to-date to receive the alerts. Service Subcription Who is eligible to subscribe for the service? Subscription is open to valid Malaysia incorporated companies that have exported to the overseas market within the last three years. Eligibility for financing is subject to financing bank s eligibility criteria. How do I register as a subscriber? You can access the online registration form at Once you have filled up all mandatory information, attach your company registration certificate and submit the form online. Once the registration process is complete, usually within two working days, you will receive the user ID and password to log into the portal. You are advised to change your password during first login. What are the required documents during registration? You are required to attach scanned copy of your company registration certificate during registration. (1) Form 9 Certificate of Incorporation of a Private Company; or Form 8 Certificate of Incorporation of Public Company and;
6 Internet connectivity Internet browser - Explorer version 9.0 Minimum RAM size of 128 MB or 512 MB Minimum Processor 300 megahertz (Mhz) or greater VGA Monitor with 1024x768 resolution Keyboard and mouse PDF reader Fees and Charges Free registration 1 Buyer checking fee: USD100 per check Online payment charge: RM2.00 per transaction Please refer to your respective financing bank s Account Manager for details on financing charges. 1 Auto-renewal fee for buyer checking applies. How is payment made? Buyer checking fee is paid online using Internet banking. The portal automatically routes you to the payment site during your credit line application. You may pay using your personal or corporate account. The participating banks as followed: PERSONAL ACCOUNT Maybank CIMB Bank Public Bank Hong Leong Bank RHB Bank Bank Islam CORPORATE ACCOUNT Maybank CIMB Bank Public Bank Hong Leong Bank RHB Bank Affin Bank Cash drawdown is paid by the bank directly into your credit line bank account. Loan payback/settlement is paid directly into your credit line bank account by you or your buyer. Customer Support For assistance on the portal service and registration status, please contact Careline at Tel: or to For queries on financing packages and application status, please contact your respective financing bank s Account Manager.
7 DNEX Hallmark e-commerce Sdn Bhd Terms and Conditions TERMS AND CONDITIONS 1. GENERAL 1.1 This Terms and Conditions are binding on you ( Subscriber ). 1.2 This Terms and Conditions including the Schedules, contain the complete and exclusive understanding of the Subscriber with respect to the subject matter hereof and become effective ("Effective Date"), upon successful registration via Registration Form (as defined) by the Subscriber with DNEX Hallmark e- Commerce Sdn Bhd ( H) ( DNEX Hallmark ); (formerly known as Nation Hallmark Sdn Bhd). 1.3 DNEX Hallmark is entitled to reject an application from the Subscriber for the Services (as defined) at its sole discretion without assigning any reason. 1.4 All prior representations whether made orally, in writing or electronically are hereby superseded. No waiver or amendment of any of the provisions hereof will be binding unless made in writing and signed by a duly authorised representative of DNEX Hallmark. 1.5 This Terms and Conditions may be amended by DNEX Hallmark from time to time. 1.6 If any provision of this Terms and Conditions is held to be invalid or unenforceable for any reason whatsoever, such provision is deemed deleted and the remaining Terms and Conditions herein shall remain valid and enforceable apart from such provision. 2. DEFINITIONS AND INTERPRETATION 2.1 In this Terms and Conditions, except where inconsistent with the subject or context: a) Agent means any representative, agent, professional adviser, contractor or third party service provider; b) Business Day means a day on which DNEX Hallmark is open for business for the Services; c) Holding Company means Dagang NeXchange Berhad (Company No P), a company incorporated in Malaysia and having its office address at Tower 3, Avenue 5, The Horizon, Bangsar South No. 8, Jalan Kerinchi, Kuala Lumpur, Malaysia; d) Loss means all loss, liability, damage, costs and expense (including tax, legal costs, investigation cost, litigation, arbitration, settlement, judgement, interest/charges and penalties; e) "DNEX Hallmark" means DNEX Hallmark e-commerce Sdn Bhd (Company No H), (formerly known as Nation Hallmark Sdn Bhd) a company incorporated in Malaysia and having its office address at Tower 3, Avenue 5, The Horizon, Bangsar South No. 8, Jalan Kerinchi, Kuala Lumpur, Malaysia; f) Payment Instrument means online payment, cheque, draft, money order, traveller s cheque or other paper instrument issued to one or more persons; g) Registration Form means an instrument attached to this Terms and Conditions which contain details information of the Subscriber; h) Related Corporations means in relation to any person, a subsidiary of that person or a holding company of that person or any other subsidiary of that holding company; h) Representative means a person s directors, officers or employees; i) Security Code means any confidential password, security code or other identifier issued by DNEX Hallmark directly or indirectly to access or facilitates access to the Services; j) "Services" means mytrade2cash products and services offering and shall include additional services offered by DNEX Hallmark to the Subscriber from time to time; k) Subscriber" means any Person or other legal entity utilising the Services; and l) "User ID" means a unique identification provided by DNEX Hallmark to the Subscriber which enables the Subscriber to obtain the Services. 2.2 In this Terms and Conditions: a) Person shall include any individual, body whether corporate or unincorporated, firm or partnership. b) Words importing the masculine gender shall include the feminine and neuter genders. c) Words importing the singular shall include the plural. d) Headings are for convenience of reference only. 3. APPLICABLE FEES/CHARGES 3.1 The Subscriber shall pay all fees and charges to DNEX Hallmark for the products and services as per the price list annexed hereto. The fees and charges payable by the Subscriber are non refundable for any reason whatsoever. The fees and charges do not include applicable taxes, if any which shall be payable by the Subscriber, and DNEX Hallmark shall include taxes such as Government Service Tax (GST) at the prevailing rates. 3.2 All payments shall be made to DNEX Hallmark by any modes of Payment Instrument. 3.3 All payments of fees and charges for the Services shall be made in Ringgit Malaysia. 3.4 DNEX Hallmark reserves the right to review such fees and charges annually and to vary the same by giving 30 days notice to the Subscriber. The date of coming into force of the new fees and charges shall be the date stated in the notice. 3.5 The Subscriber shall pay or reimburse DNEX Hallmark for any taxes, deduction, charges, stamp, transaction and withholdings (together with any related interest/charges, penalties, fines and expenses) in connection with the Services. The Subscriber shall provide DNEX Hallmark with such documentation, declarations, certifications and information as DNEX Hallmark may require in connection with any taxes. The Subscriber warrants that such information is true and correct in every respect and shall immediately notify DNEX Hallmark if any information requires updating or correction. 4. VARIATION OF SERVICES The Services provided by DNEX Hallmark may be modified, enhanced, substituted, suspended or removed by DNEX Hallmark by giving 30 days prior written notice to the Subscriber. 5. SECURITY RESPONSIBILITIES 5.1 Each Subscriber is responsible for the confidentiality of the password, user identification number or other security device assigned by DNEX Hallmark to that Subscriber. Each Subscriber shall ensure that only duly authorised persons shall use such password, user identification number or other security device. 5.2 DNEX Hallmark hereby disclaims all responsibility and liability for the acts or omissions of the Subscriber in this area. 6. LIABILITY LIMITATION 6.1 DNEX Hallmark shall not be liable for any Loss that the Subscriber may suffer or incur arising from or in connection with our execution, non-execution or delayed execution of any incorrect or incomplete information or instruction from the Subscriber. 6.2 DNEX Hallmark shall have no liability for any Loss that the Subscriber may suffer or incur arising from any loss or theft of any Payment Instrument or Security Code. 6.3 DNEX Hallmark is not liable for any Loss of any nature which the Subscriber may suffer or incur in relation to the Service that DNEX Hallmark provides, save for any direct Loss attributable to DNEX Hallmark s gross negligence or wilful misconduct. The Subscriber agrees that unless otherwise expressly provided, DNEX Hallmark will provide the Service as independent contractor, not as agent and the Subscriber agrees that the Service which DNEX Hallmark provides to the Subscriber will not give rise to any fiduciary or trustee duties on its part. 6.4 Failure by DNEX Hallmark to demand performance of any terms herein shall not be deemed a waiver of any of DNEX Hallmark's
9 DNEX Hallmark e-commerce Sdn Bhd Terms and Conditions mytrade2cash Price List *Buyer checking fee: USD100 per check Online payment charge: RM2.00 per transaction *Auto-renewal fee for buyer checking applies.