A Letter of Credit is an undertaking by the bank issuing it to pay the beneficiary of the credit provided stipulated documents are presented and other terms and conditions of the LC are complied with.

The Issuing (opening) bank receives the document presentation under an Import L/C from the Presenter. At that time the Issuing Bank will register the received documents for record purposes. 

For each document presentation under an Import L/C, a subordinate contract is created under that letter of credit. This sub-contract has its own reference number. Transactions for processing document sets are handled under the subordinate sector Document Sets under an Import L/C ('BR').

The user can register the documents in the following ways through the checkbox 'Enter Docs, Discrep., Instr. and Shipping Details', 

• The received documents is registered in the system without entering further details. The other details like document list, potential discrepancies, or instructions are specified in the subsequent transactions.
• All details are specified after the receipt of the documents is registered in the system. The user can specify the additional details of the document set through the checkbox Enter Docs, Discrep., Instr. and Shipping Details.
• To send the documents on approval basis to the Applicant, the checkbox 'Documents sent on Approval Basis' has to be selected.

To register the Import document presentation, transaction LITDCK is used.

Select it from the menu item[Import Products -> Import L/C -> Main -> Receive Documents].

(Users can directly start this transaction by clicking the  (Launch transaction ) available in the Panel headline without having to select the relevant menu ) 

When you have made your changes, click on the ( )  Save function to save all the the data entered in the transaction to the database.