1. Import LC Issuance User Guide
  2. Import LC Issuance

2 Import LC Issuance

As part of Import LC Issuance the applicant (importer or customer) approaches a bank and requests the bank to issue a Letter of Credit on their behalf to the beneficiary (exporter).

The Letter of Credit stipulates the required documents and the conditions to be met by the beneficiary while shipping under the said LC. On receipt of credit compliant documents, the issuing bank is obliged to make payment under the LC. The various stages involved for issuance of an Import Letter of Credit are:
  • Receive and verify documents (Non Online Channel)- Registration stage
  • Input application details Upload of related mandatory and non mandatory documents
  • Verify documents and capture details (Online/Non Online Channels)- Scrutiny stage
  • Input/Modify details of LC - Data Enrichment stage
  • Check for limit availability
  • Check balance availability for amount block Check for sanctions & KYC status
  • Earmark limits/Create amount block for cash margin/charges
  • Capture remarks for other users to check and act
  • Generate acknowledgements and draft LC copies
  • Notify customer on any negative statuses in any of the stages to the applicant
  • Hand off request to back office.

This topic contains following subtopics:

  • Common Initiation Stage
    This topic provides the systematic instructions to initiate the new import LC issuance request.
  • Registration
    This topic provides the systematic instructions to initiate the Registration stage of import LC Issuance request.
  • OBTFPM- OBDX Bidirectional flow
    This topic provides the systematic instructions to initiate the OBTFPM- OBDX Bidirectional flow.
  • Scrutiny
    This topic provides the systematic instructions to initiate the Scrutiny stage of import LC issuance request.
  • Data Enrichment
    This topic provides the systematic instructions to initiate the Data Enrichment stage of import lc issuance request.
  • Customer Response - Draft Confirmation
    This topic helps you quickly get acquainted with the Customer Response - Draft Confirmation process.
  • Exceptions
    This topic helps you quickly get acquainted with the Exceptions process.
  • Multi Level Approval
    This topic helps you quickly get acquainted with the Multi Level Approval process.
  • Customer - Acknowledgement
    This topic helps you quickly get acquainted with the Customer Acknowledgement process.
  • Customer - Reject Advice
    This topic helps you quickly get acquainted with the Customer - Reject Advice.