We are excited to share that the American World Trade Chamber of Commerce (AWTCC) has entered into a strategic partnership with 360tf, a digital trade finance platform designed to support exporters with smarter, faster access to financing options. As a part of this collaboration AWTCC members and members of associated chambers will receive a 10% annual discount. 360tf can help exporters identify the most cost effective option for their letters of credit and can help minimize risk involved in exporting to new clients. The specifics of the partnership were agreed to in a joint memorandum of understanding available below.
This partnership comes from a shared goal: to make cross-border trade easier and more efficient for U.S. businesses. Through 360tf, exporters can connect with a global network of banks and financial institutions to explore funding solutions backed by export receivables, Letters of Credit (LCs), and open account transactions. The platform also offers tools like automated document checks and operational support that can help reduce delays, improve turnaround time, and free up working capital, something especially valuable in today’s fast-moving trade environment.
A changing ecosystem
AWTCC expects letter of credit shipments to increase in prevalence. In a more unstable and dynamic trade environment, using a letter of credit can be a tool for stability. Further, we expect US based exporters to explore new countries and new opportunities which will more often come with a letter of credit.
360tf helps exporters navigate this, through their connections with banks internationally. Further, they have avenues to ensure exporters receive payment.
In our review, many US exporters have not explored pricing options around letters of credit which means these companies are likely paying more than they should be. The collaboration here will seek to address this issue.
What comes next
The goal for the collaboration here is to ensure that US based companies are able to expand their global export footprint. The banking connections established by 360tf we expect to be a vital feature in this journey.
“This collaboration brings together the strengths of both organizations,” said Brian Smith, Director at AWTCC. “With 360tf’s innovative platform and our on-the-ground support for U.S. exporters, we are confident our members will benefit from easier access to trade finance opportunities globally.”
CA Pankaj Mundra, Co-founder of 360tf, added: “We are truly aligned in our mission to support exporters and simplify trade finance. It is great to work with a partner like AWTCC that understands the real challenges businesses face on the ground.”
For information on the program feel free to contact VP of Partnerships Alex Sonifrank at asonifrank@awtcc.org
