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.