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Import Documentary Credit
 @GlobalTrade Import Documentary Credit System enables corporates to improve Import Documentary Credit management across all their divisions and multiple banks, and simplifies the allocation and monitoring of credit facilities. The system standardizes the ILC application process, speeds up applications for amendments and shipping guarantees. The system can handle the complete transaction lifecycle including drawings. Import Documentary Credit messages can be exchanged with the issuing bank via SWIFT, DTA, or specific XML formats, facilitating straight-through and error-free processing.
Benefits for Corporates
- Real-time monitoring of bank, country, project, and counter-party exposure
- Faster Import Documentary Credit issuance and amendment process
- Real-time visibility into the company’s global Import Documentary Credit data base
- Ability to react faster to changing market conditions due to electronic access to information
- Quicker access to information due to the on-line availability of applications, issued LC, amendments, drawings, and shipping guarantees
- Reduced operational and financial risk.
Benefits of SWIFT Interface
- @GlobalTrade Import Documentary Credit System can connect the corporate treasury and all business units to multiple banks through the SWIFT network. @GT SWIFT Connector submits LC applications directly to the issuing bank using the SWIFT MT798 Messages.
- Connectivity costs are low due to sharing of the SWIFT channel with other treasury areas: payments, securities, FX, E&I, bank accounts, and additional trade finance messages (Guarantees/Standbys, Import Documentary Credits)
- Enables true straight-through processing from application to credit issuance, amendments, and drawings
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