2 Drawing Under Transfer LC

This process illustrates the Drawing Under Transfer LC handled in Oracle Banking Trade Finance Process Management.

Transfer LC is used when the beneficiary under LC transfers part or full value under the LC to one or multiple second beneficiaries.

The Life Cycle of Transfer LC:
  1. Advise Export LC to the First Beneficiary
  2. First Beneficiary requests for Transfer of LC
  3. Issue Transfer LC
  4. Advise Transfer LC
  5. Second Beneficiary submits the document under
  6. Transfer LC Transferee Bank submits the documents to transfer or bank
  7. Create drawing under Transfer LC and notify First Beneficiary
  8. Receive Export Document from First Beneficiary (including substituted document if any)
  9. Forward Export Document to Issuing Bank
  10. Receive Settlement under Export LC
  11. Liquidate Drawing under Transfer LC
  12. Credit balance amount to First Beneficiary

This topic contains following subtopics:

  • Registration
    This topic provides the systematic instructions to initiate the Registration stage of Drawing under transferred LC request.
  • Scrutiny
    This topic provides the systematic instructions to initiate the Scrutiny stage of Drawings under Transferred LC request.
  • Data Enrichment
    This topic provides the systematic instructions to initiate the Data Enrichment stage of Drawings Under Transferred LC request.
  • Exceptions
    This topic helps you quickly get acquainted with the Exceptions process.
  • Multi Level Approval
    This topic helps you quickly get acquainted with the Multi Level Approval process.
  • Reject Approval
    This topic helps you quickly get acquainted with the Reject Approval process.