Letter of Credit and Drawing

  • kda
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13 years 4 months ago #5892 by kda
Letter of Credit and Drawing was created by kda
Dear All,

Could you please explain me, What is the different of Letter of Credit and Drawing?
And Please tell me the flow of them, How are they created?

Thanks

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13 years 4 months ago #5898 by Dust
Replied by Dust on topic Re: Letter of Credit and Drawing
TF (trade finance) in T24 got 3 main applications, they are LC (letter of credit), LC.AMENDMENTS and DRAWINGS.
LC: Store, maintain, manage all information on LCs, and Collection.
LC.AMENDMENTS: for external amendments which requires Ben's consent only. After approving amendments, they will be updated into LC records, otherwise they will not.
DRAWINGS: used for payment of collection and/or for registering/refusal/acceptance/payment of LC documents. Drawings ID = LC ID + XX (where XX = sequence number), therefore Drawings transactions are only handled/processed with existing LC ID.

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13 years 4 months ago #5899 by kda
Replied by kda on topic Re: Letter of Credit and Drawing
Thank alots Dust.

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