API Console
Executive Summary
This Service Domain handles the pricing and issuance of letters of credit to its corporate customers in support of their international trading requirements
Examples of Use
A bank issues an LC to a corporate customer to enable them to make a large purchase from an overseas supplier
Role Definition
Orchestrate the pricing and issuance of Letters of Credit to bank customers guaranteeing their ability to pay sellers for goods that are to be delivered at some future date. Letters of Credit are mostly used to facilitate international trade. They can be single transaction or revolving and can also be transferable and so traded (this Service Domain only covers the issuance and processing of the LoC)
Related Business Scenarios
Core Business Object
Key Features
- Price and issue letters of credit for bank customers
- Evaluate seller claims and make payments against the letter of credit
- Evaluate buyer delivery completion prior to releasing funds
- Recover buyer collateral against redeemed letters of credit where applicable