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Standby LC/Guarantee Receipt
| Our @GlobalTrade Standby LC/Guarantee (LG) Receipt system allows treasury to monitor all LGs received and allocate them to respective divisions, subsidiaries, and/or product units. LG utilization, validity, and renewal periods can easily be tracked and electronic instructions can quickly be given to trading partners. The system can be configured to monitor margins used in commodity credits. |
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Beneficiaries can send electronic messages through the system to their bankers, obtaining assistance in preparing drawing documents to be presented to the counter party’s financial institutions in order to obtain speedy payment.
Benefits For Corporates And Government
- Internal cost savings
- Visibility of all LGs received
- Ability to monitor daily exchange-rate fluctuations
- Ability to verify and approve bank charges
- Easy creation of reports
- Notifications and alerts
Benefits For Banks Offering @GlobalTrade Standby LC/Guarantee Receipt System
- Closer relationships with clients
- Opportunity to increase the number of LGs advised
- Customer service image
- Efficient custodian services
- Chance to offer additional value-added trade services
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