Global trade management solutions

With hundreds of countries, thousands of rules, and a million details—all of which are changing—refining and petrochemical companies and their equipment and service suppliers doing business around the world need to keep up with it all, but until now, that has been difficult at best. Now, however, VerticalNet, Inc., Hydrocarbon Online's parent company, the Internet's leading business-to-business e-commerce enabler, and NextLinx Corporation, the leading global trade management solutions provider, have formed an alliance in which NextLinx will be integrated into VerticalNet's technology platforms to offer customers a comprehensive trading solution that will streamline and accelerate business processes regardless of geographic locations.

Powered by the most comprehensive source of global trade content in the world, NextLinx's Global Knowledge, customers will have the ability to classify products, screen shipments and orders for denied parties, calculate landed costs prior to purchase, and most importantly ensure compliance with involved government regulations.

"There's a great need for simpler and more efficient international trade facilitation tools. After extensive consideration of the industry players offering similar global trade management solutions, we selected NextLinx for its global content and scaleable product offering," said Dwayne Spradlin, senior vice president of corporate development for VerticalNet. "Both companies will work to ensure interoperability between VerticalNet's own solutions, including public and private marketplaces and strategic sourcing solutions, and NextLinx's global content and compliance products."

"In this highly competitive market, it is critical for businesses to create new opportunities and reach unsaturated markets. This integrated offering, in a single step, opens the door for business to grow globally, providing cutting edge technology to deliver results in a fast paced environment and increase top line revenue," said Lynde Richards, NextLinx's vice president of global business development and marketing. "In addition, we are privileged to work with an innovative company like VerticalNet and move another step closer to fulfilling our mission of touching every shipment as it crosses international borders." Global Knowledge's vast database contains vital information on everything you need to buy and sell products globally. It includes:

• Harmonized System (HS) Classifications—All chapters of the HS, averaging more than 19,000 HTS classification codes per country. These codes are required each time any product crosses a border during the import process.
  
• Non-HS export control classifications—All export control classification numbers for each country. These codes are required each time that any product crosses a border in the export process.
  
• Customs Duties—All Customs duty rates including all trade preferential programs. We determine the optimal duty rate based on all applicable programs.
  
• Governmental Charges—All governmental charges including value added taxes (VAT), excise taxes, merchandise processing fees, port charges, etc.
  
• Restrictions—Up-to-date information on denied and restricted parties as well as embargoed countries.
  
• Licenses—All the requirements for export and import licenses.
  
• Documentation—Extensive library of forms and requirements needed for complete compliance.

Soon to be accessible through Hydrocarbon Online, NextLinx has developed a reputation for technical leadership, reliability, and client satisfaction. Its prestigious list of customers includes: FedEx, UPS, Cisco Systems, Trimble Navigation, Honeywell, 3Com, Fairchild Semiconductor, Rockwell Automation, Sotheby's, ShipChem, Boeing, and many more.

Source: VerticalNet and NextLinx