New Processes Released

The following are the new processes released as a part of 14.8.0.0.0 Release:
  • Introduction of Transfer LC Cancellation Process (Conventional and Islamic)

    A new ‘Transfer LC Cancel’ process is introduced.

    Functionality:

    Transfer LC can be cancelled if:

    1. No further drawings are expected/required.
    2. A Parent Export LC cancellation request is received, requiring all issued Transfer LCs to be cancelled first.
  • Introduction of Transfer LC Closure (Conventional and Islamic)

    A new ‘Transfer LC Closure’ process is introduced.

    Functionality:

    • ‘Transfer LC Closure’ option added under Export Documentary Credit in the OBTFPM menu.
    • Additional validations included in the Parent Export LC closure process.
    • Available balance in Transfer LC will be reinstated to the Parent LC.
    • Goods quantity in Parent LC will be reinstated based on available units in Transfer LC.
    • If an outstanding bill exists under Transfer LC, system will restrict closure with an error message.
    • Once closed, Transfer LC cannot be reopened or reversed.

Parent topic: Enhancements