1. Oracle Banking Trade Finance Adapter for Blockchain Interface
  2. Oracle Banking Trade Finance Blockchain Adapter
  3. Integration Process
  4. Detailed Use Case for Buyer’s Credit Solution using Blockchain
  5. Liquidating Buyer’s Credit Bill Contract

2.4.2.5 Liquidating Buyer’s Credit Bill Contract

System will send a reminder to the importer for repayment of Buyer's Credit loan two days before the due date.
  • On the due date for liquidation, user will have to liquidate the Buyer's Credit import bill
  • On authorization of the Import Bill system will update the Smart Contract in blockchain to indicate that the Importer has remitted funds for repayment of Buyer's Credit loan.
  • Blockchain will trigger a notification to Lending Bank regarding the repayment of the loan by the Borrowing Bank.

Parent topic: Detailed Use Case for Buyer’s Credit Solution using Blockchain