Establish an Import Letter of Credit

Establish an Import Letter of Credit 01. From the Manage Import LCs screen with the Transactions tab selected: To establish an Import LC similar to a previous one or a template, click the radio button in front of the transaction, then click Create similar. To establish a new Import LC, click Create new. The Party information screen appears. 02. Type your LC reference number in the Our reference field and complete the Party information screen. 03. Click the Payments or Continue to Part 2 > link. The Payment information screen appears. Complete the Payment information section of the screen. 04. In the Payment terms section of the screen, select either Sight or Term. Complete this section and the Expiry terms section of the screen. 05. Click the Shipments or Continue to Part 3 > link. The Shipment information screen appears. Complete the Shipping information section of the screen. If required, click Shipment period details and add further shipping information. 06. Complete the Dispatch Details section of the screen using the drop down menus. Import Letters of Credit > Establish an Import Letter of Credit

Establish an Import Letter of Credit (cont d) 07. In the Additional Details section of the screen, add: Description of goods, Documents required, and Additional conditions (if required). 08. In the Details of charges section of the screen, change the defaults if required. Click Save when completed. 09. A message saying the transaction has been saved will appear. Click OK. If an error message appears, you will be required to fix prior to saving. 10. The transaction will appear on the Manage Import LCs screen with the status In process. 11. The transaction must now be approved before it will be sent to Westpac. Following is the approval process. 12. From the Manage Import LCs screen, click the Our reference link. The Party information screen appears. 13. Review this screen, then click the Payments or Continue to Part 2 > link. The 'Payment information' screen appears. Import Letters of Credit > Establish an Import Letter of Credit

Establish an Import Letter of Credit (cont d) 14. Review this screen, then click the Shipments or Continue to Part 3 > link. The Shipment information screen appears. 15. Review this screen, clicking buttons containing information to review it. 16. If the LC is satisfactory, click Approve. (If the LC is not satisfactory, click Cancel and edit accordingly.) The Approve window appears. 17. Enter your password using the screen keyboard, then click Submit. A message saying the transaction is approved appears. Click OK. 18. The transaction will appear on the Manage Import LCs screen and the status will change from Approved to Sent to bank. The transaction has been completed and sent to Westpac. Import Letters of Credit > Establish an Import Letter of Credit

Edit/Amend an Import Letter of Credit 01. Import LCs can be: Edited before they are sent to Westpac, or Amended after Westpac has released them. 02. From the Manage Import LCs screen, click the radio button in front of the LC, then click Edit/Amend. The Party information screen appears. 03. Make changes as required, then click the Payments or Continue to Part 2 > link. The Payment information screen appears. 04. Make changes as required, then click the Shipments or Continue to Part 3 > link. The Shipment information screen appears. 05. Make changes as required, then click Save. A message saying the transaction has been saved will appear. Click OK. 06. The transaction will appear on the Manage Import LCs screen with the status In process. 07. The transaction must now be approved before it will be sent to Westpac. Following is the approval process. Import Letters of Credit > Edit/Amend an Import Letter of Credit

Edit/Amend an Import Letter of Credit (cont d) 08. From the Manage Import LCs screen, click the Our reference link. The Party information screen appears. 09. Review the changes on this screen, then click the Payments or Continue to Part 2 > link. The Payment information screen appears. 10. Review the changes on this screen, then click the Shipments or Continue to Part 3 > link. The Shipment information screen appears. 11. Review the changes on this screen. If the changes are satisfactory, click Approve. (If the changes are not satisfactory, click Cancel and edit accordingly.) The Approve window appears. 12. Enter your password using the screen keyboard, then click 'Submit'. A message saying the transaction is approved appears. Click 'OK'. 13. The transaction will appear on the Manage Import LCs screen and the status will change from Approved to Sent to bank. The transaction has been completed and sent to Westpac. Import Letters of Credit > Edit/Amend an Import Letter of Credit

Pay an Import Letter of Credit 01. From the Manage Import LCs screen, click the radio button in front of the LC Payment In process, then click Edit/Amend. The Summary information screen appears. 02. Review this screen. Click the buttons containing information to review it. 03. Click the Acceptance or Continue to Part 2 > link. The 'Acceptance' screen appears. 04. Accept/reject discrepancies if applicable, and complete the details on this screen. If discrepancies are rejected, click the Payment or Continue to Part 3 > link, then click Save. Go to Step 15. 05. Click the Payment or Continue to Part 3 > link. The Payment instructions screen appears. 06. Click New below the List of accounts table. The Account details screen appears. 07. Select from the drop down list the account number for the money to be paid from and enter the amount in the relevant field. Note: The amount is in the currency of the account, not the transaction currency of the Import LC. 08. Click Save. The Payment instructions screen appears again. Import Letters of Credit > Pay an Import Letter of Credit

Pay an Import Letter of Credit (cont d) 09. Repeat Steps 6 to 8 for each account that money is to be paid from. 10. If currency conversion is required, click New below the List of foreign exchange instructions table. The Foreign exchange instruction details screen appears. Enter the foreign exchange details in this screen. 11. Click Save. The Payment instructions screen appears again. 12. Repeat Steps 10 and 11 for each foreign exchange instruction. 13. If required, click New below the List of Trade finance arrangements table. The Trade Finance request screen appears. Enter the loan details in this screen. 14. Click Save. The Payment instructions screen appears again. 15. A message saying the transaction has been saved will appear. Click OK. If an error message appears, you will be required to fix prior to saving. 16. The transaction will appear on the 'Manage Import LCs' screen with the status In process. 17. The transaction must now be approved before it will be sent to Westpac. Following is the approval process. Import Letters of Credit > Pay an Import Letter of Credit

Pay an Import Letter of Credit (cont d) 18. From the Manage Import LCs screen, click the Our reference link. The Summary information screen appears. 19. Review this screen, then click the Acceptance or Continue to Part 2 > link. The Acceptance screen appears. 20. Review this screen, then click the Payment or Continue to Part 3 > link. The Payment instructions screen appears. 21. Review this screen. If the payment is satisfactory, click Approve. (If the payment is not satisfactory, click Cancel and amend it.) The Approve window appears. 22. Enter your password using the screen keyboard, then click Submit. A message saying the transaction is approved appears. Click OK. 23. The transaction will appear on the Manage Import LCs screen and the status will change from Approved to Sent to bank. The payment has been completed. Import Letters of Credit > Pay an Import Letter of Credit