38.5 Transfer Letter of Credit - Instructions

This topic provides the systematic instructions to capture the Instructions details in the application.

This tab includes the miscellaneous information such as Advising Bank SWIFT ID, Charges Borne By, and Instructions to the bank (not forming part of LC).

  1. Specify the Instruction details.

    Figure 38-9 Transfer Letter of Credit - Instructions
    Description of transfer-letter-credit-instructions.png follows
    Description of the illustration transfer-letter-credit-instructions.png

    Note:

    The fields which are marked as Required are manadatory.

    For more information refer to the field description table below:

    Table 38-8 Transfer Letter of Credit - Instructions - Field Description

    Field Name Description
    Advising Bank The option to select the mode of advising bank. It is captured by Bank’s SWIFT code.

    The options are:

    • SWIFT Code
    • Name and Address
    SWIFT Code Specify the SWIFT code of the advising bank, available in the application. Or

    Click the Lookup SWIFT Code link to search and select the link.

    The user can specify the SWIFT Code, City and Bank Name as search criteria.

    This field is enabled if the SWIFT Code option is selected in the Advising Bank field.

    Name Specify the name of banks.

    This field is enabled if the Name and Address option is selected in the Advising Bank field.

    Address Specify the complete address of the bank.

    This field is enabled if the Name and Address option is selected in the Advising Bank field.

    Advise Through Bank The option to select the details of advise through bank.

    The options are:

    • SWIFT Code
    • Name and Address
    SWIFT Code Specify the SWIFT code of the advising bank, available in the application. Or

    Click the Lookup SWIFT Code link to search and select the link.

    The user can specify the SWIFT Code, City and Bank Name as search criteria.

    This field is enabled if the SWIFT Code option is selected in the Advise Through Bank field.

    Name Specify the name of banks.

    This field is enabled if the Name and Address option is selected in the Advise Through Bank field.

    Address Specify the complete address of the bank.

    This field is enabled if the Name and Address option is selected in the Advise Through Bank field.

    Special Payment Conditions for Beneficiary Specify the special payment conditions applicable to the beneficiary, for example, post financing request/ conditions.
    Special Payment Conditions for Bank Only Specify the special payment conditions applicable to bank without disclosure to the beneficiary, for example, post-financing request /conditions.
    Confirmation Instructions The option to select the confirmation instructions for the requested confirmation party.

    The options are:

    • Confirm - The requested confirmation party is requested to confirm the credit
    • May Add - The requested confirmation party may add its confirmation to the credit
    • Without - No confirmation is requested
    Requested Confirmation Party Select the bank which is requested to add its confirmation or may add its confirmation.

    The options are:

    • Advising Bank
    • Advise Through Bank
    • Confirming Bank
    This field is enabled if the May Confirm or Confirm option is selected in the Confirmation Instruction list.
    Confirming Bank The option to confirming party is the Confirming bank.

    The options are:

    • SWIFT Code
    • Bank Address
    SWIFT Code Specify the SWIFT code of the confirming bank or Advise through Bank. Or

    Click the Lookup SWIFT Code link to search and select the link.

    The user can specify the SWIFT Code, City and Bank Name as search criteria.

    This field is enabled if the SWIFT Code option is selected.

    Name Specify the name of banks.

    This field is enabled if the Name and Address option is selected.

    Address Specify the complete address of the bank.

    This field is enabled if the Name and Address option is selected in the Advising Bank field.

    Sender to Receiver Information Specify the additional information for the receiver.
    Instructions to Intermediary Bank Specify the instructions that needs to be given to the intermediary bank.
  2. In the Advising Bank field, if you select SWIFT Code option:
    1. In the SWIFT Code field, specify the SWIFT code or select it from the look-up.
    2. Click Verify to fetch bank details based on Bank Code (BIC).
  3. If you select Name and Address option:
    1. In the Name field, enter the name of the advising bank.
    2. In the Address (1-3) field, enter the address of the advising bank.
  4. In the Advising Through Bank field, select the appropriate option and specify the fields accordingly.
  5. In the Sender to Receiver Information field, specify the additional information for the receiver.
  6. In the Instructions to Intermediary Bank field, specify the instructions that needs to be given to the intermediary bank.
  7. Perform any one of the following actions:
    • Click Next to save the entered details and proceed to the next level.

      The Charges, Commissions and Taxes tab appears in the Transfer Letter of Credit screen.

    • Click Cancel to cancel the transaction.

      The Dashboard appears.

    • Click Back to go back to previous screen.

Parent topic: Transfer Letter of Credit