3.4 Back to Back LC

This topic provides the systematic instructions to initiate Back to Back Import Letter of Credit (LC) in the application.

This option allows the user to initiate a Back to Back LC. User can search or lookup an Export LC under which Back to Back LC has to be initiated.

To search Back to Back LC:

  1. On the Initiate a Letter of Credit screen, click Back to Back LC tab.
  2. Perform one of the following actions:
    • Specify the the Reference number/Applicant Name/ Beneficiary Name/Amount/Status in the Filter field.
    • Click filter criteria to specify the filter criteria. The Filter overlay screen appears. Based on the defined criteria you can view transactions.

    Figure 3-8 Back to Back LC - Filter


    Description of Figure 3-8 follows
    Description of "Figure 3-8 Back to Back LC - Filter"

    For more information refer to the field description table below:

    Table 3-7 Back to Back LC - Filter - Field Description

    Field Name Description
    Reference number Specify the LC reference number of the LC for which back to back LC is to be initiated.
    Applicant Name Specify the applicant name against whom LC is to be created.
    Currency Specify the currency to filter the record.
    Amount From- Amount To Specify the amount range for the Letter of Credit along with the currency under which the LC issued.
    Application Date From- To Specify the application date range for the Letter of Credit.
    Expiry Date From- To Specify the expiry date range of the LC to filter the record.
  3. Click Apply.
    The searched results are displayed based on the parameters provided.

    Figure 3-9 Back to Back LC


    Description of Figure 3-9 follows
    Description of "Figure 3-9 Back to Back LC"

    For more information refer to the field description table below:

    Table 3-8 Back to Back LC - Field Description

    Field Name Description
    Related Party Specify the Related Party name to filter the LC by Party Name.
    Filter Specify the the Reference number/Applicant Name /Beneficiary Name/Amount/Status as a filter criteria.
    Filter Results This section displays the filter results.
    Reference No. Displays the LC reference number of the LC.
    Applicant Name Displays the applicant name.
    Beneficiary Name Displays the beneficiary’s name of the back to back LC.
    Amount Displays the amount for the back to back along with the currency.

    The application amount of Back to back should not be more than parent export LC.
    Application Date Displays the application date of Back to back Letter of Credit.
    Expiry Date Displays the expiry date of the of Back to back LC.

    The Back to Back LC should not have expiry date greater than that in parent LC.
    Status Displays the status of the Back to Back LC.

    The status can be:

    • Active
    • Hold
    • Cancelled
    • Reversed
    • Closed
  4. Perform one of the following actions:
    • Click on the desired Reference No. link to view the LC details. The Initiate Letter of Credit - LC Details screen appears.
    • Click the download icon to download the records in CSV & PDF format.
    • Click the manage columns icon to setup a column preference by rearranging or removing columns.
    • Click Create LC to create new LC.

Parent topic: Initiate a Letter of Credit