TradeXchange: Import Documentary Letter of Credit

Transcription

1 TradeXchange: Import Documentary Letter of Credit This guides takes you through the process of initiating and authorising an Import Documentary Letter of Credit in CommBiz TradeXchange. Before you start You must be registered for TradeXchange to use these functions. If you have not yet registered for TradeXchange, visit commbiz.com.au for information about registering. Logging in to TradeXchange 1. Open your internet browser and visit 2. When you login the following screen is displayed.

2 3. Click on TradeXchange in the Useful Links box at the right of the screen. 4. You will be logged into TradeXchange and the TradeXchange home page is displayed. 5. Click on Import Services, then Transactions. Page 2 of 5

3 Initiating an Import Documentary Letter of Credit 6. The Import Services Letter of Credit Workdesk screen is displayed. 7. From the New dropdown menu, select Trans Type ISSIMP (Issue Import Documentary Letter of Credit). 8. A new screen is displayed, providing a unique Client Reference Number. 9. You can choose from 3 options for the Issuance of the Documentary Letter of Credit: From Template: An empty form with no pre-filled data. Model: Allows you to use a previously saved model as the basis for a new application. This saves time re-keying when the information is largely consistent. Same As: Allows you to use a previously authorised application. Page 3 of 5

4 Completing each field Note: There are a number of dropdown menus in the application screen, explained below. If you have any difficulties completing the application, contact the Trade Solutions team on Issuing Bank Applicant Beneficiary Advising Bank Latest Shipment Date Presentation days Date and Place of Expiry Amount (currency) Other documents Goods Descriptions Additional Conditions There will be only one option here, Commonwealth Bank of Australia. This will show your company details. This will show a list of all beneficiaries you have entered into the database. This will contain the details you have entered into the database. This date must be in the dd-mmm-ccyy format (eg 05-Oct-2008). Cannot exceed 99 days. This date must be in the dd-mmm-ccyy format (eg 05-Oct-2008). Place of expiry is normally the country of the beneficiary. Select the currency from the dropdown menu and enter the amount (omitting commas and symbols). Saving the Letter of Credit 10. When you have completed the fields you require, select one of the options from the grey menu on the right of the screen: Save: This saves the transaction with Edit Checks. You are returned to the Transactions Desk, and the transaction is saved to ENTR status, pending approval. Save No Edit: This saves the transaction without Edit Checks. You are returned to the Transactions Desk, and the transaction is saved to PEND status. The transaction will be saved to the Workdesk ( Initiate Transactions ) in the appropriate status pending further editing before the transaction can be approved. Save Model: The application will be saved as a Model only rather than a transaction to be processed. You can use this model for future transactions involving this beneficiary where the information is largely the same. Update: The application will be saved as is, ie, complete or incomplete. If for any reason the system times out or your browser is closed, the information you have already entered will be saved and you will be able to come back and complete the application. Cancel: The Application will be deleted and you will be returned to the Letter of Credit Workdesk screen. Page 4 of 5

5 Authorising the Letter of Credit 11. Ask your authoriser to go to the Import Services Letter of Credit Workdesk window, shown below. They can access this page by following Steps 4 6 above. 12. They should then select the item by clicking on the checkbox to the left. Note: Only applications with a status of ENTR are eligible for authorisation. Multiple transactions can be selected. 13. Click the Approve button. Authorised transactions are then moved to History with a Done status. Note: Authorised transactions cannot be retrieved from the bank. 14. The Application will be processed by the Bank and an Advice of Establishment ( Advice ) will be forward to your company upon completion. Page 5 of 5