1. Islamic Letters of Credit
  2. Automatic Processes
  3. Batch Process
  4. Generating Tracers

13.3.1 Generating Tracers

For an Islamic LC, the following types of tracers are generated:
  • The acknowledgment tracer (sent to the advising bank when an import Islamic LC is issued and an acknowledgment is sought)
  • The charge-commission tracer (sent to the party who has to bear the commission or charges for an Islamic LC that has been processed, pending the payment of the charge or commission)
  • The confirmation tracer (sent to the confirming bank, seeking a letter of confirmation).
  • Guarantee claim Tracers (Sent to the party mapped in the tracers till the Claim is in Lodged status)

These tracers are generated at a frequency, specified for the Islamic LC. On the day they have to be generated, the EOD processing: Tracer generation function will generate them. This function should be run after the End of Financial Input (EOFI) has been marked for the day.

Parent topic: Batch Process