Jenith Kumar
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Recent activity by Jenith Kumar-
Messages panel and its Functionalities?
Output of any transaction is seen in Messages panel. Every message, regardless of the medium used to create and send, is listed here. You cannot edit the messages themselves but you can decide whet...
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How to and where to add additional Parties ?
In addition to the main parties of the contract you have already captured, the Parties panel allows you to register any other parties involved in the contract. Other parties can be entered using th...
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How to add a Temporary party?
In Export Letters of Credit scenario, Unlike the beneficiary, who is usually a corporate customer known to your bank, and the issuer, who is normally a bank identified as such in your system, the ...
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What is Domestic LC and how to enable it?
Domestic L/C The domestic L/C refers to a kind of LC with which the L/C-opening bank, at the request of the customer, issues the LC commitment to the seller and pay to the seller upon receipt of...
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What is Participation Sold ?
Participations Sold are a type of financing utilized above all in international large-scale lending when the order amount or business volume is too high for an individual institution or if this cou...
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What is Assignment of proceeds and How to Enable it in Import LC Transaction?
An assignment is an arrangement under an L/C in terms of which the payee assigns or transfers part of the L/C amount to a third party. Assignment to one or several third parties in a contract is...
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Roles of Reimbursement bank and how to enable it in DOKA?
The reimbursing bank is one of the correspondence banks of the issuing bank with direct account relationship. Usually, the issuing bank keeps accounts with the reimbursing bank in foreign currencie...
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Auto-Extending the term of a Standby LC
Standby LCs can be issued for a limited period if banks are concerned about issuing contracts for longer terms. The Auto-Extension functionality provides the ability to automatically extend the e...
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What is Revolving LC and how to issue Revolving LC?
Revolving Letters of Credit typically support business contracts with a large number of regular shipments. Whilst the business can be supported with standard L/C's, an importer may insist on a rev...
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How to Open an Import Letter of Credit
Import Letters of credit can be issued using Import L/C >> Open (LITOPN Transaction) 'Form of LC' Field specifies the type of L/C. According to UCP, the L/C has to indicate whether it is irrevocabl...