3.3 Initiate a Letter of Credit - By Drafts

This topic provides the systematic instructions to initiate an Import Letter of Credit (LC) in the application by using saved LC draft.

User can save LC application as a Draft so that it can be used if required in future. User can search the saved LC draft using Draft Name.

The summary of all the Initiated LC draft of a corporate are listed with basic information of each LC in a card form. User can choose to check the complete details of a specific draft template by clicking on a card. User can click the tabular icon to view the draft in tabular form.

Note:

LC Application saved as Draft can be used only once for LC Application initiation.

To search the LC draft:

  1. On the Initiate a Letter of Credit screen, click the By Drafts tab.
    The Initiate a Letter of Credit - By Drafts screen appears.

    Figure 3-6 Initiate a Letter of Credit - By Drafts


    Description of Figure 3-6 follows
    Description of "Figure 3-6 Initiate a Letter of Credit - By Drafts"

  2. Specify the name of the specific Letter of Credit Draft Name in the Search field whose details you want to view. The specific Letter of Credit - By Drafts screen based on search criteria appears.

    For more information refer to the field description table below:

    Table 3-5 Field Description

    Field Name Description
    Search Specify the name of the LC draft template to search and view its details.

    Partial search is allowed.
    Search Results - Summarized View card form This section displays the search results in Summarized View in card form.
    Initiate Letter of Credit Draft Card The Initiate Letter of Credit draft card displays the name of the Initiated Letter of Credit draft name along with the other details like date of update, name of the beneficiary, type of LC, LC amount and draft at.
    Initiate Letter of Credit Draft Card Details Following details are present on each Letter of Credit Template card.
    Draft Name Displays the name using which draft template is stored and can be used to initiate a LC application.
    Beneficiary Name Displays the beneficiary’s name against whom LC is to be created.
    Type Displays the corresponding LC product type and as supported by Host.
    LC Amount Displays the amount of LC.
    Draft At Displays the LC draft type i.e. 'Sight' or 'Usance'.
  3. Specify the draft name of the specific Letter of Credit Template in the Search field whose details you want to view.
    The saved LC draft appears based on search criteria.
  4. Select and click the Letter of Credit draft card whose details you want to view.
  5. Click Summarized View or Tabular to view the Draft LC template as Summarized or Tabular view.
  6. Click Delete to delete the Draft LC template card.
    Initiate Letter of Credit - By Drafts - Tabular View

    The Initiating LC Draft - Tabular View allows the corporate user to view the LC Draft in table format.

    To view the Initiate Letter of Credit - By Drafts in tabular form:

  7. In the Initiate Letter of Credit - By Drafts Summary page, click Tabular to view the initiate LC Draft template as Tabular view. The Initiate Letter of Credit - By Drafts tabular view page appears.

    Figure 3-7 Initiate Letter of Credit - By Drafts - tabular view


    Description of Figure 3-7 follows
    Description of "Figure 3-7 Initiate Letter of Credit - By Drafts - tabular view"

    For more information refer to the field description table below:

    Table 3-6 Field Description

    Field Name Description
    Search Specify the name of the LC draft template to search and view its details.

    Partial search is allowed.
    Search Results This section displays the search results in Summarized View in table form.
    Name Displays the name using which draft template is stored.
    Beneficiary Name Displays the beneficiary’s name against whom LC is to be created.
    Updated Date Displays the latest updated date of the draft template.
    LC Amount Displays the amount of LC.
    Draft At Displays the LC draft type i.e. 'Sight' or 'Usance'.
    Type Displays the corresponding LC product type and as supported by Host.
    Actions Click Delete to delete the Draft LC template.
  8. Click the Name link to view and initiate the letter of Credit using a draft.
    The Initiate Letter of Credit - LC Details screen appears.

Parent topic: Initiate a Letter of Credit