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Standby LC/Guarantee Issuance
| Our @GlobalTrade Standby LC/Guarantee (LG) Issuance system allows corporates to improve the transparency of LG management across all their divisions and multiple banks, and simplifies the allocation and monitoring of credit lines. It also structures the application-approval process, provides consistency in documentation, verifies calculation of charges, and reduces discrepancies. |
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Authorized banks can access the system to receive authenticated instructions to issue a new LG or amend an existing LG and communicate with the corporate on reductions and any other matter concerning the transaction.
Benefits for corporates
- Availability of real-time information on utilization of credit lines across all banks
- Faster LG application processing
- Internal cost savings
- Reduction of errors
- Ability to monitor daily exchange-rate fluctuations
- On-line access to the guarantee application and the operative guarantees issued by banks
- Easy creation of reports
- Notifications and alerts
Benefits for banks offering @GlobalTrade Standby LC/Guarantee system
- Closer long-term relationships with clients
- Opportunity to increase:
- number of guarantees issued
- number of credit syndications where the bank is a lead arranger
- Reduced operational costs
- Technology to provide outsourcing services
- Chance to offer additional value-added trade services
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