Replacing an Outdated System
Trust assurance is essential to trade — assurance that the seller delivers as agreed and the buyer pays.
Banks provide that assurance through Letters of Credit (LCs) and centralized fund movement through the SWIFT and CIPS networks.
That legacy trust-assurance stack is slow, opaque, and expensive, and in the case of SWIFT, error-prone.
Latitude replaces both.
• Smart contracts guarantee payment on agreed terms — replacing the LC.
• Stablecoins move funds instantly and securely — replacing SWIFT/CIPS.
We convert your Commercial Contract into a self-executing Smart Contract which assures performance.
You retain control – the code ensures execution as agreed.
Settlement Stages
✅ Trade Terms Agreed
Buyer and seller agree Commercial Terms (product, spec, quantity, Incoterm, price, laycan) via normal channels. Smart Contract mirrors those terms.
✅ Security & Setup
Unique Secure IDs, Multi-Sig wallets, MFA, and encryption are established. Parties independently enter agreed terms; system verifies match.
✅ Execution
Buyer posts USDT Trade Guarantee. Seller arranges logistics. Smart Contract records and verifies milestones — survey, insurance, NOR, B/Ls — and signals readiness.
✅ Settlement
Seller receives settlement price minus fees. Buyer refunded excess guarantee. Funds settle instantly in stablecoins; seller converts to fiat.
Irrevocable Once Funded
Similar to the irrevocability of an LC, the trade becomes irrevocable once the buyer posts Trade Guarantee funds.
Settlement proceeds automatically unless clearly defined exceptions occur.
Cancellation Only by Performance Failure or Mutual Consent
The trade cannot be unilaterally cancelled. Cancellation is permitted only under standard commercial contract provisions for documented failure to perform, or by mutual agreement of the parties.
Automated, Transparent, Updates
The smart contract enforces milestones, verifies documentation, and updates progress in real time — reducing delays and eliminating ambiguity.
(Optional) Provisions for Trade Delegation to:
Insurance — validated and logged alongside progress.
Arbitration — per standard industry practice.
