1. Bills and Collections User Guide
  2. Processing Bills
  3. Bills and Collections Contract Input Details
  4. Document and Goods tab
  5. Book Export Bill by Linking the Import Bill

4.2.3.3 Book Export Bill by Linking the Import Bill

Book, an export bill under the parent- transferred LC and link the import bill to create under transferred LC.
  • On default of LC contract reference number, bill amount will have defaulted as LC Available Amount + Bill

    Amount of the import bill created under the transferred LC of the parent export LC.

  • If the bill under transferred LC is linked to the export bill, then the bill amount should be greater than or equal to

    the total available amount under the bill under the transferred LC contract.

  • If the export bill is created under the export LC, without linking the import bill, then the bill amount cannot exceed the value, which is the difference between the total LC amount - Transferred portion.
  • You cannot reverse, cancel or close an export bill if import bill that is not liquidated are linked to the export bill.
  • On booking of the bill, availment triggered in the parent LC contract for an amount which is the difference between the BC amount and the total linked import BC amount.
  • On liquidation of BC contract, the system liquidates the import bill contract also if the import bill is linked.
  • If both beneficiaries belongs to different bank:
    • Once the documents are submitted by beneficiary 2 for the transferred LC, the export bill booked in beneficiary 2's bank for the transferred amount.
    • The documents from beneficiary 2's sent to beneficiary 1's bank.
    • An import bill booked for the transferred amount, and the document is sent to beneficiary 1 for substitution.
    • Beneficiary 1 will substitute the documents and will submit a consolidated bill. An export bill is booked for this by linking the import bill.
    • On liquidation of the export bill system will split the liquidation amount for export bill into two - one portion for the transferred amount and another for the un-transferred amount
    • The system liquidates the linked import bills contract if the also during BC contract liquidation.
    • If partial liquidation is done, then the amount to be liquidated is calculated using the proportion of amount for beneficiary1 and beneficiary 2 in the total bill amount.
  • If both beneficiaries belong to same bank:
    • When the second beneficiary submits the document for the transferred amount, an import bill is booked under the transferred LC.
    • The document is sent to the first beneficiary for substitution of documents.
    • The first beneficiary will submit the documents after substitution of documents. An export bill is booked for this under the parent LC by linking the import bill.
    • On liquidation of the export bill, the linked import bill is liquidated.

Parent topic: Document and Goods tab