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The Issue Transfer Export Letter of Credit page allows you to enter information for an Export Letter of Credit issue transfer transaction.
Different action buttons appear on the page (Attach a Document, Save, Save & Close, Verify Data, and so on), depending on the transaction's status and/or whether the transaction is in edit mode or read-only mode. This page appears in read-only mode if you have view only security rights to instruments, if the transaction has any status other than "Started", or if the instrument was not created by your organisation (if your organisation has subsidiaries). Click here to read about the actions available on transactions for each status in edit mode and read-only mode.
The Issue Transfer Export Letter of Credit page includes the following sections:
Rejected Reasons (displays conditionally)
The Rejected Reasons section of the Issue Transfer Export Letter of Credit page contains the rejection reasons listed by the bank for this transaction. The rejection reasons will be displayed until the transaction has been successfully authorized and resubmitted to the bank.
The General section of the Issue Transfer Export Letter of Credit page contains basic information about the Export Letter of Credit issue transfer transaction. The fields and controls contained in the General section are described below.
| Field/Control | Description |
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*Related Instrument ID |
The ID of the Export Letter of Credit you want to transfer. To complete this field, press Search Instruments. An entry in this field is required. This field can contain up to 35 characters. |
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Search Instruments |
Pressing this button displays the Instrument Search page, where you can select the Export Letter of Credit you want to transfer. After you select the instrument on the Instrument Search page, the transaction page redisplays with the Related Instrument ID field loaded with the selected instrument's ID. |
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Transferee |
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Search for a Transferee |
Pressing this button displays the Party Search page, where you can select the party to whom you are transferring the Export Letter of Credit from a list of non-bank parties. After you choose a party from the Party Search page, the transaction page redisplays with the Transferee fields loaded with the party's information. To complete each Transferee fields, you can either search for a party by pressing the Search for a Transferee button, or you can type the entry directly into each field. If the party you select in the Party Search page has a designated bank, the bank's information is loaded into the Transferee's Bank area. This bank information can be overridden, if necessary. |
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*Transferee Name |
The name of the Transferee for the instrument. To complete this field, you can either search for a party by pressing the Search for a Transferee button, or you can type the Transferee's name directly into this field. This field can contain up to 35 characters and is a required field. |
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*Address (Line 1) |
The first address line of the Transferee for the instrument. To complete this field, you can either search for a party by pressing the Search for a Transferee button, or you can type the Transferee's address directly into this field. This field can contain up to 35 characters and is a required field. |
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Address (Line 2) |
The second address line of the Transferee for the instrument. To complete this field, you can either search for a party by pressing the Search for a Transferee button, or you can type the Transferee's address directly into this field. This field can contain up to 35 characters. |
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*City |
The city of the Transferee for the instrument. To complete this field, you can either search for a party by pressing the Search for a Transferee button, or you can type the Transferee's city directly into this field. This field can contain up to 16 characters and is a required field. |
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Province/State |
The province or state of the Transferee for the instrument. To complete this field, you can either search for a party by pressing the Search for a Transferee button, or you can type the Transferee's province or state directly into this field. This field can contain up to 8 characters. |
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*Country |
The country of the Transferee for the instrument. To complete this field, you can either search for a party by pressing the Search for a Transferee button, or you can type the Transferee's country directly into this field. A country selection is required. |
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Postal Code |
The postal code of the Transferee for the instrument. To complete this field, you can either search for a party by pressing the Search for a Transferee button, or you can type the Transferee's postal code directly into this field. This field can contain up to 8 characters. |
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Contact Name |
The Transferee contact name. To specify, enter the contact's name in the text box. This field can contain up to 35 characters. |
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Phone Number |
The phone number of the Transferee for the instrument. To complete this field, you can either search for a party by pressing the Search for a Transferee button, or you can type the Transferee's phone number directly into this field. This field can contain up to 35 characters. |
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Transferee's Bank |
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Search for Transferee's Bank |
Pressing this button displays the Party Search, where you can select the Transferee's Bank for the instrument from a list of bank parties. After you choose a party from the Party Search page, the transaction page redisplays with the Transferee's Bank text area loaded with the party's information in read-only form. If the party you select in the Transferee area has a designated bank, the bank's information is loaded into the Transferee's Bank area. This bank information can be changed, if necessary, by changing the Transferee's bank information here. To change the Transferee's bank information, press Clear Transferee's Bank. You can then press Search for Transferee's Bank again to select a new party. |
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Clear Transferee's Bank |
Pressing this button clears the Transferee's bank information from the Transferee's Bank text area. You can then press Search for Transferee's Bank again to select a new party. |
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Your Reference Number |
The reference number for the instrument. This field can contain up to 30 characters. |
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*Currency |
The currency for the instrument. To enter the currency, select one from this drop-down list. A currency selection is required. |
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*Amount of Transfer |
The amount of the transaction. This field can contain up to 22 characters and is a required field. |
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Amount Tolerance |
The amount tolerance of the transaction. This is the percentage amount that the instrument can be over- or underdrawn. You can type up to 3 characters into each percentage field (+ and -). |
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*Expiry Date |
The date that the instrument expires. To enter the expiry date, select a day, month, and year from the appropriate drop-down lists. An expiry date selection is required. |
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Latest Shipment Date |
The latest date that the goods can be shipped for the instrument. To enter the latest shipment date, select a day, month, and year from the appropriate drop-down lists. |
The Other Conditions section of the Issue Transfer Export Letter of Credit page contains information about other terms, conditions, or details for the Export Letter of Credit issue transfer transaction. The fields and controls contained in the Other Conditions section are described below.
| Field/Control | Description |
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[Goods Description changes text] |
The goods description changes text for the transaction. To enter text, you can either type directly into the text area, or add a phrase from the drop-down list to the text area. The text area can contain up to 1000 characters. |
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[Other Conditions text] |
The other conditions text for the transaction. To enter text, you can either type directly into the text area, or add a phrase from the drop-down list to the text area. The text area can contain up to 1000 characters. |
The Instructions to Bank section of the Issue Transfer Export Letter of Credit page contains instructions to your bank for the Export Letter of Credit issue transfer transaction, such as account numbers for transfer commissions and charges. The fields and controls contained in the Instructions to Bank section are described below.
| Field/Control | Description |
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[Special Instructions text] |
The special instructions text for the transaction. To enter text, you can either type directly into the text area, or add a phrase from the drop-down list to the text area. The text area can contain up to 1000 characters. |
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Transfer Commissions & Charges |
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Branch Code |
The bank branch code for settlement. To specify, enter a bank code into the text box. This field can contain up to 30 characters. |
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Debit - Our Account Number |
The debit account number for commissions and charges. To specify, enter an account number into the text box. This field can contain up to 30 characters. |
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Debit - Foreign Ccy Account Number |
The foreign currency debit account number for commissions and charges. To specify, enter an account number into the text box. This field can contain up to 30 characters. |
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Ccy of Account |
The currency of the commissions and charges foreign currency account. To specify, make a selection from the drop-down list. |
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[additional text for Transfer Commissions & Charges] |
The additional text describing transfer commissions and charges for the instrument. To enter text, you can either type directly into the text area, or add a phrase from the drop-down list to the text area. The text area can contain up to 1000 characters. |
Working with Instruments and Transactions