Import Documentary Credits:

  • Issue Import Documentary Credit ╸ supports transmission of MT 700/701 as also posting financial entries into the Core Banking system.
  • Amendment of Import Documentary Credit ╸ facilitates amendments to the Documentary Credit along with Swift messages and financial entries.
  • Maintain Import Documentary Credit ╸ enables Acknowledgement, Acceptance, Closure, Cancellation as well as Revival of expired Documentary Credit.
  • Receipt of documents ╸ facilitates receiving and recording the documents from the beneficiary through the beneficiary bank and acknowledgement thereof.
  • Payment of Import documents received ╸ enables making payment to beneficiary for the value of documents received.
  • Periodical fee realizations for Documentary Credits issued for long term.
  • Amortization of income received under the Documentary Credits.

Import Collections:

  • Receipt of Collection documents ╸ enables receiving and recording details of collections received either from the Drawer directly or through Drawer’s bank.
  • Amendments ╸ amendment of Collections pending payment.
  • Payment ╸ for payment of proceeds to the Drawer.

Export Documentary Credits:

  • Advising Export Documentary Credit ╸ enables the bank to download MT700 and to advise the same to the beneficiary.
  • Amendment ╸ enables the bank to download MT707 and to advise the same to the beneficiary.
  • Register Collection ╸ enables the bank to register documents received from the beneficiary.
  • Negotiation ╸ for negotiation of proceeds and payment thereof to the beneficiary.
  • Realization ╸ realization of export proceeds and reversing negotiated amount as well as recovery of shortfall if any in realizations.

Export Collections:

  • Facilitates registering details of export documents received and transmission of the same to the drawee of the bill or his banker.
  • Facilitates Amendment of bill already registered in the system in terms of amount, maturity date or any other basic details.
  • Realization ╸ realization of proceeds and crediting account of the exporter.

Guarantees:

  • Issue of Guarantee on behalf of the customer in favour of the beneficiary.
  • Amendment ╸ certain valid amendments can be advised to the beneficiary.
  • Claim ╸ lodging claim received from beneficiary and settlement thereof.
  • Suspension of Claim ╸ withholding settlement of Claims received as a result of orders received from Court of Law.
  • Closure of guarantee either on accomplishment of purpose or cancellation as requested by parties.
  • Periodical fee realizations for guarantees issued for long term.
  • Amortization of income received under the Guarantees.

Pre-shipment Finance:

  • Provide pre-shipment Finance to the exporter against Documentary Credit or Purchase Order.
  • Appropriate export proceeds for liquidation of Pre-shipment finance by negotiation of Export bills.

Factoring/Forfaiting:

  • Process invoices received for realization.
  • Negotiation and affording credits to beneficiary.
  • Appropriation of payments received.
  • Status reports.

Workflow management:

  • A flexible workflow and queuing system for all Trade Finance transactions which enables routing transactions between Maker, Verifier and Approver. The transaction can be assigned to specific individual users or user groups.
  • Notifying assigned users through email.
  • Time-stamping, defining SLAs and monitoring efficiency as well as delays through effective Reporting system.

Document Management:

  • Uploading documents.
  • Storing in designated area.
  • Retrieving and viewing uploaded documents.
  • Facility to add/delete documents.
  • Documents are maintained record-wise.