Shaping the future of trade services


Products and Services

@GlobalTrade Systems

link_arrow Import Documentary Credit
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link_arrow Standby LC/Guarantee Issuance
link_arrow Standby LC/Guarantee Receipt
link_arrow Import Documentary Collection
link_arrow Export Documentary Collection
link_arrow Supply Chain Finance
link_arrow SWIFT To DTAEA Converter
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link_arrow Dynamic Message Converter
link_arrow Ucon
link_arrow MT798 Testing Services

 

Case Studies

link_arrow Automotive producer
link_arrow Airbus
link_arrow Siemens

 

@GlobalTrade Platform has been awarded with the SWIFTReady for Corporates Trade & Supply Chain Finance label

swift for corp

 

Import Documentary Credit System

@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

Import Documentary Credit



When are Import Documentary Credits used?

An Import Letter of Credit is a commitment given by the Importer’s Bank to pay the Exporter on the Importer’s behalf using a pre-agreed Credit Facility. Payment is only made if the Importer’s bank receives specified documents about the transaction from the Exporter. The Import Letter of Credit sets out the documents to be provided and the conditions to be met.
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