Union Bank of India Union TReDS: Streamline Trade Receivables with Ease

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Union-TReDS

Union TReDS

Trade Receivables Discounting System (TReDS) is a digital platform for MSMEs to auction their trade receivables at competitive rates through online bidding by Financiers i.e Banks. It is a source for lower cost of financing as financing is based on buyer’s credit profile.
Union Bank of India signed the Master Agreement for participation on TReDS platform of RXIL, A.TREDS LIMITED (invoicemart.com) and Mynd Solutions (M1xchange.com).
For on boarding and operating, all the participants (Buyer i.e Corporates/Seller i.e MSME) need to register on the TReDS platform.
For MSMEs, this online trading platform provides hassle free process to get financing at best rates. The improved liquidity will result in efficient working capital management with low administrative / operational costs involved.
For Corporates they can better manage their Working capital cycle and make timely payment to MSME in compliance with MSMED Act.