Manikandan Narayanan
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Articles
Recent activity by Manikandan Narayanan-
Settling Funds(Settle Usance Docs at Maturity) under Transfer L/C
A Usance or a Deferred Transfer Letter of Credit is also called as Term Transfer Letter of Credit. The Transfer Letter of credit that is payable at a predetermined or future point following the c...
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What is Rebooking?
The Rebooking transactions (All XXXFEE Settling Charges transactions) support the definition of a Rebooking process. To activate this option, select the 'Rebooking' checkbox on the main panel. Aft...
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Reimbursement Claim under a Transfer L/C
In the Letter of Credit arrangements, the reimbursing bank is the bank that serves as a source of funds payment to the beneficiary. Upon presentation of credit conforming documents nominated bank w...
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Settling Charges in Transfer L/C
The system allows the user to manually settle fees and charges independently outside the transaction and the Rebooking is made during the Settlement of Fees. To Settle charges for an existing se...
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Forward/Sending Documents under Transfer L/C
When the document set is received from the Presenter [Second beneficiary/Any presenting Party] under the Transfer L/C, that is not refused and returned, the system allows to send the received docu...
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Send, Accept and Settle Documents in Transfer L/C
When the document sets are received under the Transfer L/C, further handling is done in the below ways, To only send the documents without settling that have been presented and checked. To send an...
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Transferring the Issuing Bank under a Transfer L/C
'Transferring the Issuing Bank' refers to the obligation that is been transferred from one party to another party. The Liability is booked out of the account of the Old party and will be booked in ...
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Liability Adjustment in Transferable L/C
The 'Liability Adjustment' is to adjust the internal entries on the Liability Panel for the Transfer L/C contracts. The Booking amount field changes the Liability amount without creation of new Am...
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Correct Drawing in Transferable L/C
There is a possibility that the First or Second Beneficiary submits the document sets which becomes discrepant on first presentation and later with the corrected documents. Reasons for a correction...
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Processing Discrepant Documents in Transferable L/C
The Transferable Letters of credits often do not work out as planned, and this is usually because the documents provided in support of a claim under the Transferable letter of credit do not meet th...