This robust module maximizes the productivity by automating all types of existing letters of credit, such as: operations at sight, term, Stand-by, Back to Back, transferable, assignment of proceeds, revolving, reimbursements, confirmed, unconfirmed, red clause, green clause, by acceptance, by payment, by negotiation, etc.
The module facilitates all the relevant functionalities of the transaction, such as the issuance, amendment (and corrections), negotiation (including the documents examination), acceptance, payment, deferred payment, mixed payment, forfaiting, financing or Loan, the collection of deferred commissions, the accrual of interest and commissions, etc.
Letters of Credit module is available for the export and import operations both, and related letters of credit with respective financing & loans, and steamship and air release guarantees, if any.
Automatically generates and receives all messages from the family 700 SWIFT (mt7xx). The message is automatically overlaid in the operation and is available for review at any point.
Our module allows the bank to send the SWIFT messages that it wants to share with their client automatically, as well as the confirmation advices, notifications, commissions and liquidations charges and, of course, the debits / credits for principal amounts or payments.
The documentary letters of credit module provides all the necessary functionalities and operative validations, reduces mistakes across internal controls, increases productivity and provides all the managerial information needed by means of reports and inquiries online.
This module (and in general all the products of Mercury – TFS®) considerably facilitates the operation by means of:
- Mercury Workflow® allows the banks to define their own internal workflows for the control of their operations of import and export with all their clients. It have a task manager that will optimize processes, maintaining all the information adjusted to the need for the type of user of the bank, and may distribute workloads based on various automatic or manual parameters.
With this module, total control is had on each of the dates and important events, which warns in the desired time and gives access to the operation to perform.
- Mercury Document Manager® is the ultimate tool for managing both the negotiation of LC and any document that the bank want to include in it, associating each one of them with the corresponding event (issue, amendment, negotiating, payment, etc.) and at the same time having global visibility from the origin of the LC.
It also allows associating and or consulting the documents you want, while maintaining the global vision from inquiry of the operation or event of the entire documentary archive.
This service, of high added value, allows the bank to offer an excellent and exclusive service that keeps its clients faithful and to charge additional for it.
- Mercury Business Intelligence® It is the definitive generator of “reports and inquiries” for management of the documentary credits originated by their clients. The generation of statistical information and the distribution for business areas, turns out to be simple with this module: from simple inquiries of easy access up to managerial and executive reports.
- Mercury Messenger® permits a safe and continuous dialogue between the bank and the client that is associated to any documentary credit event, thus speeding up the entire resolution of the operations. This way, the bank is offering a completely agile and distinguishing service to their clients. In every moment of the dialog can include documents across the interconnection with Mercury Document Manager®.