@GlobalTrade Systems

Case Studies

Export Documentary Credit

@GlobalTrade Export Documentary Credit (ELC) System enables the corporate treasury to receive documentary credits electronically from their banks, share LC details with business units globally, prepare compliant documents, and collaborate on these documents with logistics providers. Corporates can also use the system to send documents electronically to their banks for pre-checking before they are presented and thereafter submit a fully electronic or a mixed paper and electronic presentation as per eUCP. Banks can access the system through the internet or can communicate via the SWIFT network.

Benefits for Corporates

• Global electronic Export Documentary Credit database
• Discrepancy-free documents
• Ability to turn receivables into cash quicker (DSO savings of 3 to 10 days)
• Improved efficiency in Export Documentary Credit handling
• Customized Export Documentary Credit approval process
• Improved monitoring and control
• Reduced operational risk

Benefits of SWIFT Interface

• @GlobalTrade Export 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. The system also receives confirmations of LC and amendment issuance from SWIFT.
• Opportunity to increase the number of LCs advised
• 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 of LC data from advice receipt and allocation to business units to document generation and presentation.