Support : User Guide
Operations : Letter of Credit
Letter of Credit

To add a new Letter of Credit, go to Operations and then to the Credit tab.

Letters of Credit can be added into the system. The LC added will be used for Credit Exposure calculations. LCs can also be referenced in transactions from the Operations module.

Add New Letter of Credit

Operations Letter of Credit

1. Click on New Button to create a new line.

2. In Issuance Date, select the applicable issuance date of Letter of Credit(LC).

3. In LC Ref., enter the applicable LC reference number.

4. In Book Name, select the applicable book name for the Letter of Credit(LC).

5. In Booking Entity Name, select the applicable booking entity name for the Letter of Credit(LC).

6. In Instrument Type, select the applicable instrument type.

*Contact CoreTRM Support if you wish to add more instrument types*

7. In Import/Export, select Import or Export.

8. In Counterparty, select the applicable counterparty of the Letter of Credit(LC).

9. In Issuing Bank, select the applicable issuing bank of the Letter of Credit(LC).

*Issuing banks are setup in Credit -> Companies.*

10. In Beneficiary Bank, select the applicable beneficiary bank of the Letter of Credit(LC).

11. In Instrument Amount, enter the LC amount.

12. In Amount Ccy, select currency for the LC amount.

13. In Expiry Date, select the applicable date of the LC.

14. In Lastest Shipment Date, select the applicable latest shipment date of the LC.

15. In Uncashable?, check the box if the LC is uncashable.

16. In Comments, enter applicable comments for the LC.

17. Click Save Button to confirm creation.

18. To edit LC details after creation, Click Edit Button

Once transactions has attached an LC, it will appear in the transaction view/grid like below.

Operations Letter of Credit Transactions