NR Capital and Chinsay partner to digitise commodity trade contracts
Chinsay expands their offering into trade finance and fintech ecosystems by supporting NR Capital and their counterparties in digitalising fundamental supply chain processes
SINGAPORE, 12th November 2018 | Press Release
NR Capital, a leading and innovative digital trade finance company, has selected Chinsay, the market leader in contract and document management software, to implement Chinsay’s Contract Management Platform, a single cloud-based SaaS solution for end-to-end contract management and counter-party collaboration, to enhance their client offering.
NR Capital identified Chinsay’s Contract Management Platform as the leading solution to digitalise the process of drafting, issuing and validating commodity contracts. NR Capital’s technology framework digitises fundamental supply chain processes including sales and purchase contracts, electronic bills of lading and letters of credit.
Tom James, CEO and CIO of NR Capital, stated, “Chinsay’s technology is aligned with our focus on the digitisation of all operational processes in our ecosystem. This partnership enhances our offering to our customer counterparts, enabling them to more effectively communicate their transaction information with us and approve the format of the legal agreements prior to our approval and legal sign off. We look forward to using Chinsay to provide our clients even more transaction security, operational efficiency and cost reductions for users.“
“We are delighted to partner with NR Capital in their mission to bring efficiency to commodity and finance markets through the application of technology,” said Colin Hayward, CEO of Chinsay. He continued, “NR Capital represents a unique customer segment for Chinsay outside of our traditional freight and bulk commodity markets. This partnership validates our extension into the Fintech and Trade Finance ecosystems. We will support NR Capital and our clients as an important enabler for further digitalisation of trade processes within our traditional markets and beyond.”
About NR Capital
NR Capital, headquartered in Singapore, is an innovative Digital Trade Finance (Fin+Tech) company, which offers an alternative to traditional balance sheet lending to SME’s in the bulk commodity market sector. The company specialises in supporting firms whose transactions are typically between US$1m to US$10m.
NR Capital leverages market leading technology to provide a scalable solution that enhances transaction security, increases operational efficiency, and reduces costs for users. NR Capital uses a technology framework, which digitises fundamental supply chain processes including sales & purchase contracts, electronic Bills of Lading and Letters of Credit.
The company operates the “NR Capital Trade Flow Fund SP” a regulated fund for investors, which gives them access to the diversification benefits and strong risk adjusted returns of the emerging Trade Finance Asset Class.
For more information, visit http://www.nr.capital
Chinsay’s platforms for freight and commodities enable global businesses to collaboratively create, review and manage their trade contracts. Chinsay’s digital workflow unlocks efficiencies and mitigates the risk of contractual errors while ensuring that internal and external compliance is automatically enforced. By using digital contracts on Chinsay, contractual data is easily visualised and analysed which enables faster and better decision making. Chinsay is fully independent and has a +10 year track record of supporting multinational corporations, brokers, and commodity traders in over 40 countries.
For more information, visit http://www.chinsay.com