| # Letter of Credit (tcgtc0150m000) Use this session to create a Letter Of Credit. Document Number The Letter of Credit document number. Infor LN defaults this value with the first free numbers specified in the Global Trade Compliance Parameters (tcgtc0100m000) session, based on the value selected in the L/C Type field. LC Document Number The documentary credit number, assigned by the sender(exporter). This document number is used by the issuing bank to receive and manage the documents sent by the exporter. Business Partner The code of the business partner, linked to the L/C, for an international trade deal. Note The business partner is an applicant if the L/C Type field is set to Import. The business partner is a beneficiary if the L/C Type field is set to Export. Description The description or name of the code. Version The version. Infor LN increments this field by 1 if a modification is made to the Letter of Credit. Status The status of the L/C. Allowed values Letter of Credit Status Note The status values differ based on the L/C Type. Irrevocable If this check box is selected, the LC can be cancelled only with the approval of all the stakeholders involved. Transferable If this check box is selected, the LC can be transferred. Standby If this check box is selected, the LC can be put on standby or on hold. Trade License Reference The license number issued by the Government to carry out the business trade, for which the L/C is created. Exclude Advances If this check box is selected, the advance amount is excluded from the order line amount when compared with the LC amount. Note This field is enabled, only if: The L/C Type is set to Domestic Sales and Export. LC is not linked to an order. If the order amount after excluding the advances is more than the LC amount, LN blocks the sales order line. Exclude Installments If this check box is selected, the installment amount is excluded from the order line amount when compared with the LC amount. Note This field is enabled, only if: The L/C Type is set to Domestic Sales and Export. LC is not linked to an order. If the order amount after excluding the installments is more than the LC amount, LN blocks the sales order line. Address The address of the Advising Bank 1. Id The identification number of the Advising Bank 2. Confirming Bank The code of the confirming bank. Name The name of the confirming bank. Address The address of the confirming bank. Id The identification number of the confirming bank. Transferring Bank The code of the transferring bank. Name The name of the transferring bank. License Expiry Date The date on which the L/C license expires. Address The address of the transferring bank. Id The identification number of the transferring bank. Transferee Bank The code of the transferee bank. Name The name of the transferee bank. Address The address of the transferee bank. Id The identification number of the transferee bank. Applicant The code of the applicant. Name The name of the applicant. L/C Type The type of Letter of Credit. Allowed values Export / Import Note Infor LN sets this field to: Export, if the Letter of Credit - Export check box is selected in the Global Trade Compliance Parameters (tcgtc0100m000) session. Import, if the Letter of Credit - Import check box is selected in the Global Trade Compliance Parameters (tcgtc0100m000) session. Domestic Sales, if the Letter of Credit - Domestic Sales check box is selected in the Global Trade Compliance Parameters (tcgtc0100m000) session. Domestic Procurement, if the Letter of Credit - Domestic Procurement check box is selected in the Global Trade Compliance Parameters (tcgtc0100m000) session. Address The address of the applicant. Beneficiary The code of the beneficiary. Name The name of the beneficiary. Address The address of the beneficiary. Consignee The code of the consignee. Name The name of the consignee. Address The address of the consignee. Document Number The Letter of Credit document number. Infor LN defaults this value with the first free number specified in the Global Trade Compliance Parameters (tcgtc0100m000) session based on the value selected in the L/C Type field. Notify Party 1 The code of the notify party 1. Name The name of the notify party. Address The address of the notify party. Notify Party 2 The name of the notify party 2. Name The address of the notify party. Address The address of the notify party. Insurance Company The code of the insurance company, linked to the LC. Name The name of the insurance company. Version The version. Infor LN increments this field by 1 when a modification is made to the Letter of Credit. Address The address of the insurance company. Drawee The code of the drawee. Name The name of the drawee. Address The address of the drawee. Partial Shipment Allowed If this check box is selected, partial shipments are covered in the L/C contract. Trans-Shipment Allowed If this check box is selected, trans-shipment is covered in the L/C contract. Shipment Days The number of shipment days. This value is used to calculate the Latest Shipment Date. Note The Latest Shipment Date is updated based on the value specified in this field. Additional Shipment Details The text related to additional shipment details. Company Set The code of the financial company set. From The location from which the good are shipped. Final Place Delivery The location to which the goods are shipped. Delivery Terms The delivery terms (International Commercial Terms) defined for a L/C contract. The trade terms and the source of the trade terms, must be specified on the invoice. The following are the allowed values: Ex Works (place) Free Carrier (place) Free Alongside Ship (port of shipment) Free On Board (port of shipment) Cost and Freight (port of destination) Cost Insurance Freight (port of destination) Carriage Paid to (port of destination) Cost Insurance Paid (place of destination) Deliver Ex Ship (port of destination) Delivered Ex Quay (port of destination) Delivered Duty Unpaid (place of destination) Delivered Duty Paid (place) Delivery Terms The description of the INCO terms. Partial Shipment Details The text related to partial shipments. Note This field is enabled only if the Partial Shipment Allowed check box is selected. Trans-Shipment Details The text related to trans-shipment. Note This field is enabled only if the Trans-Shipment Allowed check box is selected. Shipment Period From The date from which the goods are loaded on board, or dispatched, or received. Note This field is disabled if the Latest Shipment Date is specified. Shipment Period To The date up to which the goods are loaded on board, or dispatched, or received. Note This field is disabled if the Latest Shipment Date is specified. Latest Shipment Date The last date by which the consignment must be loaded or dispatched. This value is calculated based on the Effective Date and the Shipment Days fields.
    Latest Shipment Date= Effective Date + Shipment Days
Note This date cannot be after than the Expiry Date. This field is disabled if the Shipment Period From and Shipment Period To fields are specified. Description The description or name of the code. Port of Discharge The code of the destination port to which the specified goods are shipped. Note The details related to the port of discharge or the destination airport must be specified on the transport document. Description The description or name of the code. Port of Loading The code of the destination port from which the specified goods are shipped. Note The details related to the port of loading or the departure airport must be specified on the transport document. Description The description or name of the code. Telephone The telephone number of the insurance company. Irrevocable If this check box is selected, the LC can be cancelled only with the approval of all the stakeholders involved. Fax Number The fax number of the insurance company. Policy Reference The policy reference number of the goods covered as a part of the L/C contract, issued by the insurance company. Total Assured Amount The total amount assured by the insurance company, for the goods covered as a part of the L/C contract. Utilized Amount The insurance amount utilized from the total assured amount. Available Amount The amount available after the utilized amount is deducted from the total assured amount.
    Available Amount= Total Assured Amount - Utilized Amount
Note If the Policy Reference is used as insurance for other LC contracts, this value is adjusted with the amount utilized. Policy Voyage Clause The shipment details that are covered by the specified insurance policy. Risks Covered The risk coverage details covered for the goods specified as a part of the specified insurance policy. Transferable If this check box is selected, the L/C can be transferred. Policy Effective Date The date from which the insurance policy is effective. Policy Cover Date The date from which the insurance policy coverage is effective. Policy Expiry Date The date on which the insurance policy expires. Policy Location Clause The location to which the goods can be shipped for the specified insurance policy. Additional Remarks The text related to the insurance policy. Amendment Number The amendment number of the L/C. Sender's Reference The sender's reference number linked to the amendment. Receiver's Reference The receiver's reference number linked to the amendment. Issuing Bank's Reference The issuing bank's reference number linked to the amendment. Additional Remarks The text related to the amendment. Standby If this check box is selected, the L/C is put on standby L/C or hold. Modified Date The date on which the L/C contract is modified. Modified By The user who modifies the L/C contract. Business Partner The code of the business partner. Note This is the buy-from business partner for an import L/C. This is the sold-to business partner for an export L/C. Description The description or name of the code. Trade License Reference The trade license, issued by the Government. Note This field is enabled based on the Status of the L/C. Goods Description The text related to goods and services linked to the L/C contract. LC Document Number The documentary credit number, assigned by the sender(exporter). This field is used by the issuing bank to receive and manage the documents sent by the exporter. Approved If this check box is selected, the L/c contract is of the type Approved. Revolving If this check box is selected, the L/c contract is of the type Revolving. License Expiry Date The date on which the trad license expires. Status The status of the L/C contract. Allowed values Letter of Credit Status Contract Amount The total amount of the contract inclusive of the charges and commissions. Currency The currency in which the contract amount is expressed. Maximum Amount The maximum amount that is availed for the L/C contract. This is a display field. Note This amount must not be less than the amount specified for the sales/purchase/shipment/receipt order line. Remaining Amount The unutilized or the remaining amount of the L/C contract.
    Remaining Amount = Maximum Amount - Linked Amount of Transactions on LC
Note If this value is 0, yhe L/C contract can not be linked to a transaction. Reference to Pre-Advice The text related to the L/C contract which is pre-advised. Issue Date The date on which Issuing Bank (sender) considers the L/C. Expiry Date The date by which the L/C is presented to bank. Confirmation Instruction The instructions that must be confirmed by the receiver. The allowed values are: Confirm (Receiver is requested to confirm the credit). May Add (Receiver may add the confirmation to the credit). Without (Receiver is not requested to confirm the credit). Mixed Payment Details The details such as the payment dates, payment amounts, and method, that must be specified on the L/C for mixed payments Positive Tolerance % The tolerance percentage. The tolerance percentage is used to calculate the Maximum Amount, when certain components of the trade transaction such as freight, insurance are not covered as a part of the L/C amount.
    Maximum Amount= Contract Amount+Positive Tolerance % * Contract Amount
Note This field is disabled when the Maximum Amount value is specified. Additional Amount Covered The additional amount of a transaction such as freight, insurance that is covered as a part of the L/C contract. Instructions by Paying Bank The instructions to the Paying, Accepting or Negotiating bank. Remarks The text related to Instructions by Paying Bank. Available By The available method of credit. Note You can specify the methods such as By Acceptance, By Deferred Payment, By Mixed Payment in this field. Drafts At The tenure which is used to calculate maturity date of L/C. Note If this value is not specified, the value must be specified for the Mixed Payment Details or the Deferred Payment Details field. Effective Date The date from which the L/C contract is effective. Infor LN defaults the Issue Date in this field. Expiry Place The place where the documentary credit is presented to the bank. Applicable Rules The rules that are applicable to the L/C contract. The allowed values are: EUCP Latest Version EUCPURR Latest Version ISP Latest Version Other UCP Latest Version UCPURR Latest Version Deferred Payment Details The details of the payment dates, payment amounts, and method, that must be specified on the L/C for deferred payments. Negative Tolerance % The tolerance percentage. The tolerance percentage is used to calculate the Maximum Amount, when certain components of the trade transaction such as freight, insurance are not covered in the L/C amount.
    Maximum Amount= Contract Amount- Negative Tolerance % * Contract Amount
Note This field is disabled when the Maximum Amount value is specified. Sender to Receiver Notification The details of the notification from the sender. Additional Conditions The description of the conditions specified for the L/C contract. Period of Presentation The number of days, within which the documents must be presented to the bank. The time period must be set to a date after the shipment date. Text The text related to the L/C contract. Applicant Bank The code of the Applicant Bank. Name The name of the Applicant Bank. Address The address of the Applicant Bank. Identification Number The identification number of the Applicant Bank. Available with Bank The code of the Available with Bank. Name The name of the Available with Bank. Address The address of the Available with Bank. Identification Number The identification number of the Available with Bank. Reimbursing Bank The code of the Reimbursing Bank. Name The name of the Reimbursing Bank. Address The address of the Reimbursing Bank. Identification Number The identification number of the Reimbursing Bank. Advise Through Bank The code of the Advise through Bank. Name The name of the Advise through Bank. Address The address of the Advise through Bank. Identification Number The identification number of the Advise through Bank. Issuing Bank The code of the Issuing Bank. Name The name of the Issuing Bank. Address The address of the Issuing Bank. Identification Number The identification number of the Issuing Bank. Negotiating Bank The code of the Negotiating Bank. Name The name of the Negotiating Bank. Address The address of the Negotiating Bank. Identification Number The identification number of the Negotiating Bank. Advising Bank 1 The code of the Advising Bank 1. Name The name of the Advising Bank 1. Address The address of the Advising Bank 1. Identification Number The identification number of the Advising Bank 1. Advising Bank 2 The code of the Advising Bank 2. Note This is the local bank for an Export L/C. Name The name of the Advising Bank 2. Definitive Sets the status of the L/C to Definitive. Requested Sets the status of the L/C to Requested. Received Sets the status of the L/C to Received. Issued Sets the status of the L/C to Issued. Returned Sets the status of the L/C to Returned. Accepted Sets the status of the L/C to Accepted. Sent Sets the status of the L/C to Sent. Paid Sets the status of the L/C to Paid. Closed Sets the status of the L/C to Closed. Canceled Sets the status of the L/C to Cancelled. Approve Approves the L/C. Set Status To Sets the status of the L/C to either Definitve or Cancelled. All Versions Displays all the versions of a L/C. |