5 September 2001, Singapore - CommerceTrust Limited today announced the launch of its ConsumerTrust Global Reliability Programme at the e-Global Conference organised by CommerceNet Singapore (CNSG). This newly launched programme comes in timely when the inherently international nature of today's marketplace requires a global approach to consumer protection.

The ConsumerTrust mark is a symbol of trust that identifies trustworthy merchants and accords them with worldwide recognition. This is also a mark to distinguish reliable and trusted merchants and to ensure an equitable level of protection for consumers across national boundaries. Such protections are indispensable in building consumer confidence and establishing a more balanced relationship between businesses and consumers in commercial transactions.

Specifically, the programme focuses on issues such as disclosure of relevant information about goods or services offered, truthful and accurate advertising, complaint handling procedures as well as security and privacy of business transactions. It also pays special attention to help parents protect their children from potentially harmful materials on the internet.

"The ConsumerTrust Code of Practice is based on internationally accepted standards such as the OECD Guidelines. It is an international benchmark for consumers and businesses about what constitutes acceptable behaviour and aims to create a level-playing field for all parties." said Associate Professor Toh See Kiat, Chairman of CommerceTrust and MP for Aljunied GRC. "Commercetrust has in place an Alternative Dispute Resolution (ADR) mechanism that provides a fair and impartial view by treating consumers and businesses as equal partners and not adversaries in a commercial transaction. Its ADR mechanism is designed for application on a global level and will greatly facilitate the proper functioning of global business and enhancement of consumer confidence." added Professor Toh, who is also a member of the ISO COPOLCO Working Group on Consumer Complaint Handling in the Global Market.

"Juzclickcar.com.sg is proud to be part of the ConsumerTrust Global Reliability Programme," said Mr Goh Lik Kok, CEO of Juzclickcar.com.sg and Vice President of the ST Kinetics Commercial Group. "The ConsumerTrust trustmark bears testimony to Juzclickcar.com.sg's high quality standard of business practice, and its commitment to providing customers with a secure, fair and transparent environment for efficient online buying and selling of used cars."

"We subscribe to this mark because it helps to provide trust in using our escrow payment services" said Mr Oon Tik Lee, Chief Operating Officer of Safe-EX Global Pte Ltd, an escrow service provider that has recently adopted the ConsumerTrust mark. "This mark assures consumers that we are part of the Global Reliability Programme and have adopted a stringent code of practice in safeguarding their interest."

"Trust is the foundation of commerce. It is difficult to build but easy to lose. ConsumerTrust helps merchants to establish confidence in business relationships." said Ms Ann Koh, Deputy Chief Executive Officer of CommerceTrust. "Businesses would no longer be differentiated by the size of their operations but by the level of commitment to international best practices."

ConsumerTrust also has a merchant rating system that helps businesses to evaluate their current business practices against international standards. Such a service would help to bring local businesses on par with international best practices. At a time when our national leaders are calling on Singapore service providers to upgrade their service standards, this service of ConsumerTrust is a stitch in time.

About CommerceTrust Limited

CommerceTrust Limited is formed with the primary objective to accelerate the development and promotion of trust in both the physical and internet business environment by providing a benchmarking framework for trust. Its mission is to be a global leader in building trust and confidence by providing trustmarks that facilitate business transactions.

CommerceTrust's Global Reliability Programme is customised to meet the different requirements of specific industries or categories of businesses. Each programme has a representative trustmark that is distinctive and easily recognisable. Currently, three distinctive trustmarks are issued: ConsumerTrust, PrivacyTrust and BusinessTrust.

CommerceTrust Limited is initiated by CommerceNet Singapore (CNSG), a not-for-profit industry association for companies that engage in electronic commerce and e-business. CNSG is part of a global consortium of business partners spread over 20 countries. Its mission is to make electronic commerce easy, trusted and ubiquitous.

About PrivacyTrust

PrivacyTrust is a Global Reliability Programme that aims to meet international practices in personal data protection. The PrivacyTrust Code of Practice is based on the standards embodied in the National Internet Advisory Committee (NIAC) E-Commerce Code for the Protection of Personal Information and Communications of Consumers of Internet Commerce, the OECD's Guidelines Governing the Protection of Privacy and Transborder Flows of Personal Data (1980), the EU-US Safe Harbour Agreement as well as the EU Data Protection Directive 95/46.

The PrivacyTrust Global Reliability Programme serves to provide assurance to consumers that their privacy rights would be respected. The PrivacyTrust mark is not only a symbol of trust that provides consumers with a privacy-friendly environment, it is also a mark that signifies a reliable and consistent method by which businesses can demonstrate their conformity to international data protection standards and enhance their ability to thrive in the markets of the developed world.

Issued by CommerceTrust Ltd
For Further information, please contact:

CommerceTrust Limited
35, Selegie Road,
#09-25, Parklane,
Singapore 188307
Tel: 65 - 6337 2368   Fax: 65 - 6337 7108
Email:commercetrust@cnsg.com.sg