1. Trade Finance - Automated End of Day User Guide
  2. Annexure A - List of End of Cycle Functions
  3. EOD and BOD Batch Jobs
  4. LC Automatic Status Update Batch

3.2.25 LC Automatic Status Update Batch

During EOD operations, the status update batch automatically processes status changes of LC contracts. The batch examines the contracts for the status of the check box Auto Status Change. If this box is checked, the batch processes status update and derives the new status based on the defined rules. The field Derived Status on the contract screen is updated with the new status.

Once the LC status is updated, the system posts the entries related to status processing as part of LCEOD batch. If the status processing basis is set as Branch or CIF at the branch level, the entries are posted as part of Group Level Status Change batch.

If status processing basis is set as ‘Contract’ at the branch level, the system performs one of the following actions:
  • If the computed status is worse than the user defined status, a forward status change is triggered.
  • If the computed status is better than the user defined status, a backward status change is triggered.

For the current status, if the options Forward and Reverse are not checked in the preferences, then status change does not take place.

Parent topic: EOD and BOD Batch Jobs