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

 

Standby LC/Guarantee Receipt System

@GlobalTrade Standby LC/Guarantee (LG) Receipt system enables treasury to monitor all LGs received and allocate them to respective divisions, subsidiaries, and/or business units. The system tracks LG utilization, validity, margins and renewal periods. Electronic instruction can be quickly given to banks, such as extend or pay requests. The system provides a structured approval process based on user-configured authorization levels. Banks can access the system to send and receive authenticated messages and communicate with the corporate on reductions, amendments and any other matters concerning the transaction. Alternately communication can be done via SWIFT or email.

Benefits For Corporates And Government

  • Improved control of risks having a global electronic database of all received LGs
  • Notifications and alerts based on user defined criteria
  • Ability to monitor daily exchange-rate fluctuations
  • Easy monitoring & inquiry of statuses of all LGs received
  • Ability to electronically prepare and quickly present claims to banks
  • Cost reduction thanks to automation, better monitoring and control
  • Quicker access to information due to on-line availability of received guarantees, amendments, reductions, and underlying contract documentation

Benefits of SWIFT Interface

  • @GlobalTrade Standby LC/Guarantee Receipt System can connect the corporate treasury and all business units to multiple banks through the SWIFT network. @GT SWIFT Connector can receive LG advice, amendment and reduction/release information or submit exted or pay requests using 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 (Import and Export Documentary Credits)
  • Enables true straight-through processing of LG data from receipt of LG, to reduction and closure of the transaction.

Standby LC/Guarantee Receipt


When are Guarantees Received?

When a bank issues a bond or guarantee on its clients behalf to their suppliers, the suppliers can trade with the client safe in the knowledge that they can meet their financial commitments. Bonds and Guarantees give international suppliers more reassurance, as long as they meet the terms of the sales contract. In some parts of the world, including the USA, standby letters of credit are legally required in place of bonds and guarantees; Standby letters of credit can be arranged by an importer, in favour of overseas suppliers and other counterparties.
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