| # Steps in Letter of Credit Process Master Data Setup In the Global Trade Compliance Parameters (tcgtc0100m000) session, select the Letter of Credit - Import and Letter of Credit - Export check boxes. In the Letter of Credit - Import, Letter of Credit - Export, Letter of Credit - Domestic Sales, and the Letter of Credit - Domestic Procurement tabs, specify the values for: Series Latest Shipment Date Exceeded, Maximum Amount Exceeded, and the Shipment Period Exceeded fields. In the User Profiles (tcgtc0103m000) session, create a new user for a specified L/C Type. Users with a specified authorization limit are entitled to approve the L/C and change L/C statuses. In the Letter of Credit (tcgtc0150m000) session: Create a new Letter of Credit contract. Specify the L/C Type. The L/C Type field must be set to Export, if the L/C contract is linked to a Sales Order. The L/C Type field must be set to Import, if the L/C contract is linked to a Purchase Order. Specify the required/corresponding data such as payment and bank details, contract amount, shipment and insurance. Click Approve. Note You can modify the L/C contract details in the Ammendments tab. The version of the L/C Document number is incremented for an amendment For a specified purchase order or a sales order, you must link the L/C contract of the corresponding L/C Type. To link the L/C contract either: Click Link in the Letter of Credit (tcgtc0150m000) session. Select the Letter of Credit Required check box and specify the Letter of Credit Number field in the Purchase Orders (tdpur4100m000) or the Sales Orders (tdsls4100m000) sessions. Note: If a L/C contract is specified for a purchase order/sales order, the order lines linked to the order are also associated to the same contract. In the Letter of Credit Linking (tcgtc2545m000) session, you must link the documents that must be presented to the bank. In the Charges and Commissions (tcgtc0152m000) session, you can add charges such as freight, logistics that are not a part of the L/C contract amount to the L/C. For a shipment order/receipt order linked to sales order line/purchase order line with an associated L/C contract, you can view the contract amount consumption details in the Letter of Credit Consumptions (tcgtc2546m000) session. |