1. Letter of Credit User Guide
  2. LC Maintenance
  3. Goods Details

2.3 Goods Details

This topic provides the systematic instruction to maintain, specify and perform operations related to goods details.

An LC is an instrument used for trade payments, it therefore involves merchandise. There are certain standard goods or commodities, the trading of which is done, with LC cover. Instead of specifying the details of merchandise each time they are traded under an LC, you can maintain the details of the standard goods in the Bills and Collections Commodity Code Maintenance screen.

The advantage of maintaining goods details is that at the time of entering the details of an LC, you only need to specify the code assigned to the goods. The description maintained for the goods code will be automatically picked up. Typically, the statutory body controlling international and domestic trade in a country assigns these codes.

This topic contains the following sections:

  • Maintain Goods Details
  • Specify UDF values
  • Operations on Goods Maintenance Record
Specify the User ID and Password, and login to Homepage.
  1. On the Homepage, type BCDCOMCD in the text box, and click next arrow.

    The Bills Commodity Code Maintenance screen is displayed.

    Figure 2-5 Bills Commodity Code Maintenance


    Description of Figure 2-5 follows
    Description of "Figure 2-5 Bills Commodity Code Maintenance"

    For more information on the fields, refer to the Field Description table given below:

    Table 2-3 Bills Commodity Code Maintenance - Field Description

    Field Description
    Goods Code Type the goods code.

    In Oracle Banking Trade Finance goods are identified by a twelve-character code called the goods code. You can follow your own convention for devising the code. However, at least one of the characters of the goods code should be a letter of the English alphabet.

    The code that you assign to a commodity should be unique as it is used identify the goods. While processing an LC where you need to specify the goods transacted, you need to only specify the code assigned to the goods. The goods description will automatically be picked up and defaulted.

    This field is mandatory.
    Language Code Select the required Language Code from the option list.

    The language used in the document which you bank receives from the customer.

    This field is mandatory.
    Goods Short Description

    Give a brief description of the goods.
    This field is mandatory.

    Goods Description Type the goods description in the text box.

    Note:

    After assigning a code to the goods, you can proceed to maintain a detailed description of the goods. The goods description can contain a maximum of thirty two thousand characters. While specifying the details of the goods transacted under an LC, you can edit the description that is defaulted, to suit the requirements of the LC you are processing. Specifications such as the quality and quantity of the merchandise can also be entered.

    This field is mandatory.
    Goods Classification Select the type of the goods from the option list. The options displayed include:
    • General
    • Licensed
    • Prohibited
    This field is mandatory.
  2. On the Bills Commodity Code Maintenance screen, click New.
    The Bills Commodity Code Maintenance screen is displayed without any details. You can maintain details for the goods or commodity for the first time.
  3. Click Save to save the details.
  4. On an existing Goods Maintenance record, you can perform of the following operations (if any icon is disabled in the application toolbar, it means that the function is not allowed for the record):
    1. Amend the details of a record
    2. Authorize a record
    3. Copy the details of a commodity, on to a new record
    4. Close a record
    5. Reopen a closed record
    6. Print the details of a record
    7. Delete a record
    You can Amend/Authorize/Copy/Close/Reopen/Print/Delete a record.

    Note:

    Please refer to the manual on Common Procedures for details of these operations.

Parent topic: LC Maintenance