USA: CIT To Finance Transactions On Textrade.com Textile Marketplace
CIT Commercial Services has announced an alliance with Textrade.com - one of the world's first and largest Internet-based international textile trading, communications and information marketplaces - to provide credit protection and financing services to textile buyers and sellers via the Internet. CIT will issue lines of credit to textile buyers to purchase goods on the Textrade.com site and, at the same time, provide credit protection to the sellers. Under this financing program, CIT will assume the buyer's financial ability to pay its debts on all approved orders through Textrade.com. "This arrangement allows CIT to utilize the Internet to facilitate business-to-business e-commerce transactions and expand our support of the textiles industry as it develops new distribution channels," said John F. Daly, president of CIT Commercial Services. "Our strategy is to provide financing services via the key vertical and horizontal Internet marketplaces in the industries we serve and Textrade.com is an important player in textiles e-commerce." "Our alliance with CIT gives Textrade.com member companies even more power to expand their sourcing and selling relationships and grow their business around the world with confidence and convenience, " said Rob Cox, CEO of Textrade.com. The Textrade.com Web site, an overhauled and expanded successor to the company's Global Textile Network (GTN) Internet service which launched in 1996, is expected to debut in August 2000.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
Help test our new apparel sourcing tool.
- Digitalisation and data to disrupt supply chains
- EU eyes mandatory due diligence for apparel supply
- 3D CAD comes of age
- Unlocks for the future fashion sourcing landscape
- What TTIP might mean for US, EU textiles & apparel
- Li & Fung forms supply chain partnership with PVH
- Big data to help US firms improve clothing fit
- Levi Strauss and ILO probe Cambodia factory death
- US Q4 in brief – G-III Apparel, Finish Line
- Labour rights risk Bangladesh EU trade benefits?
- Central and East Europe Report Package
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Outdoor performance apparel 2016: A broader perspective
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack