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Trade Finance System

ALLProfits Trade Finance System operates in an economical client/server environment and handles import letters of credit (LCs), import bills, export letter of credit advising and export bills, for international financial services branches.

Letters of Credit (LC) Transactions

The banking software handles LC transactions, including issuance, amendment, reinstatement and cancellation of multiple LC formats - sight, usance, back-to-back, revolving, standby, evergreen and similar issuances.

Letters of Credit Functionality

  • LC history available for printing and regeneration in event of nonreceipt
  • Marginal deposits, covers import bills
  • LC cancellation and reinstatements
  • Centralized standard clauses, user-defined LC templates
  • Flexible interest, commission and fee calculation
  • Generation of documents in SWIFT, telex or mail: LCs, cover letters/messages, reimbursement letters, amendment letters, debit advice for charges and interest, accounting vouchers and reminder letters

Import Bills

Import bills are processed from receipt of documents, through dispatch for acceptance/payment/collection to maturity. Transactions handled include reimbursement under LC; deferred payment/acceptance; negotiation of documents under LC or other method, sight or usance; import collections; importing financing - trust receipts, loans against imported merchandise (supports partial retirement); and shipping guarantees.

Import Bills Functionality

  • Predocumented-arrival processing with acceptance/rejection notification
  • Automated LC write-offs
  • Interest collection, due-date adjustments
  • Document production:
    • Covering schedule for documents received, advice/letter for documents, financing, shipment, bills, settlement, negotiation, retirement and payment
    • Advice for transfer to trust receipt, retirement of trust receipts, debit/credit advice, accounting vouchers
    • Document rejection/acceptance advice
    • SWIFT interface for messages to correspondent or negotiating bank
    • Mail/telex documents