1. Islamic Letters of Credit
  2. Islamic Letters of Credit - Maintenance
  3. Documents and Clauses Details
  4. Maintain Documents and Clauses

2.1.1 Maintain Documents and Clauses

This topic describes the systematic instruction to maintain documents and clauses.

There are certain standard documents that are required under a documentary Islamic LC. As these documents are standard and common in most countries, their details need not be specified every time you need to use it for an Islamic LC. Instead, you can maintain its details in the ‘Bills & Collection Document Code Maintenance’ screen and attach it to the Islamic LC you process.

The advantage of maintaining document details is that at the time of creating a product or at the time of entering the details of an Islamic LC, you only need to specify the code assigned to the document. All the details maintained for the document will be automatically picked up. This helps reduce repetitive work, as you do not need to enter the contents of the document each time you use it.

  1. Specify User Id and Password, and login to Homescreen.
    Bills and Collection Document Code Maintenance screen is displayed.

    Figure 2-1 Bills and Collection Document Code Maintenance

    Description of Figure 2-1 follows
    Description of "Figure 2-1 Bills and Collection Document Code Maintenance"
  2. On Bills and Collection Document Code Maintenance screen, specify the details.
    For more information on fields, refer to the field description table below:

    Table 2-1 Bills and Collection Document Code Maintenance - Field Description

    Field Description
    Document Code In Oracle Banking Trade Finance, each document maintained is identified by a twelve-character code, called a Document Code. You can follow your own convention for devising this code. However, one of the characters of the code should necessarily be a letter of the English alphabet.

    The code assigned to should be unique as it is used to identify the document. While creating a product or at the time of entering the details of an Islamic LC, you only need to specify the code assigned to the document. The document details will be automatically picked up and defaulted.
    Language Code Specify the language code using which all the correspondences with the party should be carried out. Click the option list icon to view the list of available language codes.
    Document Type Select the document type from the drop-down list. The available options are Transport, Insurance, Invoice, and Others.
    Document Short Description The documents for an Islamic LC are at times large and hence difficult to identify. Therefore, you can specify a short description or a title that will enable you to identify the document quickly.

    The short description that you specify is for information purposes only and will not be printed on any customer correspondence.
    Document Long Description Specify the complete description of the document.
    Validate Shipping Guarantee Check this option to indicate that a shipping guarantee should be validated.
    Bill of Landing Check this box to validate the reference number used in the bill against the shipping guarantee Bill of lading reference number.
    Clause Details A clause is a statement that accompanies a document required under an Islamic LC. Instead of specifying the details of a clause every time, you can maintain a list of the standard clauses, which can accompany the documents, required for an Islamic LC, in the Clause Maintenance screen.

    The advantage of maintaining clause details is that at the time of creating a product or at the time of entering an Islamic LC, you only need to specify the code assigned to the clause. All the details maintained for the clause will be automatically picked up.

    In this section specify the following details:
    Clause Code Each clause that you maintain is identified by a twelve-character code called a Clause code. You can follow your own convention for devising the code. However, at least one of the characters of the clause code should be a letter of the English alphabet.

    This code should be unique as it is used to identify the clause. While creating a product or at the time of entering details of an Islamic LC where you need to specify the clauses that should accompany a document, you only need to specify the code assigned to the clause. The clause details will be automatically picked up and defaulted.
    Clause Description After specifying a code for the clause, you can proceed to maintain a detailed description of the clause.

    The description carries the contents of the clause, which will be printed on the customer correspondence that accompany an Islamic LC. The clause description can contain a maximum of two thousand characters.

Parent topic: Documents and Clauses Details