4.3.1 Description of the Islamic LC Contract Details Screen
The Islamic LC Contract Details screen consists of a header and footer that contains fields specific to the contract being entered. Besides these, you will also notice six tabs and a horizontal array of icons along the lines of which you can enter details of the contract. Contract details are grouped into the various screens according to the similarities they share.
The Islamic LC Contract Screen contains six tabs along the lines of which you can enter details of the contract.
Table 4-2 Tab Details
| Field | Description |
|---|---|
| Main | Click this tab to enter the essential terms of the Islamic LC. This screen along with its fields has been detailed under the head Entering Main Contract Details. |
| Preference | Click this tab to set the preferences |
| Parties | In the screen that corresponds to this tab, you can enter the details of all parties involved in the Islamic LC. This screen along with its fields has been detailed under the head Entering Party Details. |
| Parties Limit | Click this tab to capture parties limit details |
| Shipment | In the screen that corresponds to this tab you can enter details
of the documents required under an Islamic LC and the clauses that
should accompany the documents.
Besides, you can also specify a description of the merchandise traded under the Islamic LC and shipping instructions for the transportation of the merchandise. |
| Goods | Click this tab to capture the goods details |
| Documents | Click this tab to capture the document details |
| Tracers | Click on this tab to enter details of the tracers that should be generated for an Islamic LC. |
| Advices | In the screen corresponding to this tab you can view, suppress and prioritize the advices that are to be generated for a contract. This screen along with its fields has been detailed under the head Specifying Advises for an Islamic LC. |
Table 4-3 Additional Details
| Field | Description |
|---|---|
| Drafts | Click Drafts to capture the details of draft drawn for the LC. You can specify the name of the insurance company that is covering the goods traded under the LC. |
| Commission | On invoking this Commission details of the contract are displayed |
| Charges | On invoking this function you is presented with a screen where the ICCF rate, amount, currency and the waive charge parameter is specified. The Processing Charges and Fees manual, details the procedure for maintaining charge rules. It also deals with the linking of a charge rules to a product and the application of the rule on an Islamic LC. The Processing Commissions manual, details the procedure for maintaining commission rules. It also deals with the linking of a commission rule to a product and the application of the rule on an Islamic LC. |
| Settlement | Based on the details that you enter in the settlement screens the Islamic LC is settled. The details of these screens have been discussed in the Settlements manual. |
| Tax | The Processing Tax manual details the procedure for maintaining tax rules and schemes. It also deals with the linking of a tax scheme to a product and the application of the scheme on an Islamic LC. |
| Collateral | In the screen that corresponds to this icon, you can specify details of the cash that you collect as collateral form a customer for the Islamic LC that you process. The details of this screen are discussed under the head Specifying Collateral details for an Islamic LC. |
| Events | Select this option to view the details of the events and accounting entries that a contract involves. |
| Linkage Details | In this screen, you can link an Islamic LC to a deposit or account, and indicate the funds that you would like to block. |
| Fields | Click Fields, to view the user-defined fields linked to the product. |
| MIS | Click MIS, to define MIS details for the Islamic LC. |
| Transfer Details | If the LC is transferred to a new party then a transaction is populated here. You can only view the details. IB Linkages choose this option to specify IB linkages |
| Split Settlement | Specify split settlement details |
| Finance Preference | Click Finance Preference to view the ‘Finance Preference Screen’. You can enter the details of the finance. |
| Brokerage | Use this option to capture brokerage details for the Islamic LC contract and set your preferences for sharing the brokerage amount among multiple brokers. |
| All Messages | View all messages associated to contract. |
| Documents | Capture the customer related documents in central content management repository. |
| Deferred Profit Component | View the components which are transferable to BC in Oracle Banking Trade Finance |
| Remarks | Choose this option to view ‘History of Remarks’ screen. |
| Change Log | Choose this option to view the changes made to a particular version of an Islamic LC contract. |
| Transferred Components | Choose this option to view the deferred components details screen. |
| Insurance | Choose this option to capture insurance details for the LC. |
| Common Message Group | Choose this option to view the common group message screen. |
| Enter valid inputs into all the
mandatory fields or you will not be able to save the contract. After
making the mandatory entries for the Islamic LC, save the contract
by either clicking Save in the tool bar.
A contract that you have entered should be authorized by a user bearing a different Login ID, before the EOD is run Note: You have the option to amend all the unauthorized entries made for an Islamic LC. However, after authorization, certain fields cannot be amended.Click Exit to go back to the Application Browser. |
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| Hold Support during Islamic LC
Issuance [LIDTRONL] Click HOLD to support a New operation during Islamic LC Issuance from LIDTRONL. The system is
enhanced to support Hold during LC amendment.
However, authorization is not supported for Contracts put on Hold. |
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Parent topic: Islamic LC Contract Details Screen Description