Brief Summary

The e-L/C (electronic L/C) service, unlike the traditional paper-based L/C, is electronically managed. It electronically processes and systematically manages the entire processes from notice to negotiation.

Main Functions

• Circulation Management

  Notifying trading companies of e-L/C issuance and circulating the L/C stored in the e-Trade Document Repository to a third party including a purchasing bank that requests for the confirmation of the original copy.

  • Management of e-L/C incoming notice
  • Management of e-L/C transfer and negotiation request
  • Management of e-L/C history
• Balance Management

  Managing e-L/C balance, negotiation history, and statistics for both notifying and negotiating banks.

  • Management of e-L/C informing notice
  • Management of e-L/C transfer and negotiation request
  • Management of e-L/C history

Expected Benefits

• For Trading Companies
  • No need for paper L/C
  • Management cost saving through keeping the original L/C in electronic format
  • Prevention of loss and damage of L/Cs
  • Easier circulation of L/Cs to third parties
  • Convenient confirmation of the L/C process
• For Banks
  • Easier notification and negotiation of L/Cs
  • Prevention of falsification and alteration of L/Cs
  • Prompt check on the balance of L/Cs upon negotiation request
  • Management of detailed history including L/C opening, amendment, transfer, and negotiation