To create an FI Letter of Credit Issuance

Creating an FI Letter of Credit Issuance allows you to issue a Letter of Credit to Citibank, which is often the Advising Bank named in the Letter of Credit.  Information about the Letter of Credit is entered on nine tabs.  Each tab is used to enter a specific type of data.  Click the name of the tabs below for a description of the fields on those tabs.  A red asterisk ( * ) indicates a required field.

1. Click the Main Tab to enter information about banks and amounts.

   The following fields appear on this form.  Where possible, use the Library Look Up button and drop-down arrows to fill in fields.  A red asterisk ( * )indicates required fields.

   • Transaction Initiator

   • Transaction Status

   • LC Reference Number

   • Applicant  Reference

   • Output Method

   • LC Type

   • Issue Date

   • Applicant Name/Address

   • Applicant Account Number

   • Issuing Bank Name/Address

   • Issuing Bank Account Number

   • Beneficiary Name/Address

   • Beneficiary Account Number

   • Advising Bank Name/Address

   • Advising Bank Account Number

   • CCY/Amount

   • Tolerance +/-

   • Confirmation Instructions

   • Maximum Credit Amount

   • Additional Amounts Covered

   • Expiry Place

   • Expiry Date

2. Click the Main2 Tab to enter additional Letter of Credit Details.

   The following fields appear on this form.  Where possible, use the Library Look Up button and drop-down arrows to fill in fields.  A red asterisk ( * )indicates required fields.

   • Advise Thru Bank Name/Address

   • Advise Thru Bank Account Number

   • Available With Bank Name/Address

   • Available With Bank Account Number

   • Payment Method

   • Days

   • Tenor Terms

   • Drawn On

   • Payment Details

   • Period for Presentation

3. Click the Conditions Tab to enter the terms and conditions of the transaction.  In the Conditions field, you may manually enter the conditions of the transaction; or click the Library Look-Up button and select condition text from the Clause Text Library.

4. Click the Documents Tab to identify documents required to pay the Letter of Credit.  In the Documents field, manually enter details about required documents, or click the Library Look-Up button and select document text from the Clause Text Library.

5. Click the Shipment Tab to enter details about how goods will be shipped.

   The following fields appear on this form.  Where possible, use the Library Look Up button and drop-down arrows to fill in fields.  A red asterisk ( * )indicates required fields.

   • Partial Shipment

   • Transhipment

   • Ship From

   • Ship To

   • Sales Terms

   • Latest Shipment Date

   • Shipment Period

6. Click the Instructions Tab to enter instructions for the Paying/Accepting/Negotiating bank.  In the Instructions to Paying/Accepting/Negotiating Bank field, you may manually enter instructions; or click the Library Look-Up button and select instructions from the Clause Text Library.

7. Click the Goods Tab to enter a description of the goods involved in the transaction.  In the Goods field, manually enter details about the goods; or click the Library Look Up button and select the goods text from the Clause Text Library.

8. Click the Other Tab to enter information about charges and additional bank to bank information.

   The following fields appear on this form.  Where possible, use the Library Look Up button and drop-down arrows to fill in fields.  A red asterisk ( * )indicates required fields.

   • Pre-Format Code

   • Charges

   • Bank to bank Information

9. Click the Reimbursement Tab to enter details about how the Letter of Credit is to be reimbursed.

   The following fields appear on this form.  Where possible, use the Library Look Up button and drop-down arrows to fill in fields.  A red asterisk ( * )indicates required fields.

   • Send Reimbursement Authorization

   • Reimbursement Output Method

   • Reimbursement Bank

   • Reimbursement Bank Charges

   • Reimbursement Bank Account Number

   • Reimbursement Bank Information

10. Once all the necessary information is completed on all tabs, click Submit.  The Submit Dialog box appears.  To submit the transaction without adding any library information, click OK.  The transaction proceeds to the next step as defined by your Flow Control  requirements.

–OR–

To submit the current transaction and save it as a Pre Format, select the Save as Preformat check box and enter a Preformat Code and Description in the appropriate fields.  Selecting this check box creates a new Preformat Library profile that can be retrieved in the future to create a new transaction.  You can also select the Add Counter Party to FI Counter Party Library and/or the Add Bank Information to FI Trade Bank Library check boxes to add the counter party and trade bank information that you have entered into their respective libraries.  Once all selections have been made click OK.  The library profiles proceed to the next step as defined by your flow control requirements for each library and the transaction is subject to flow controls for transactions.

–OR–

Click Save to save all the entered information, whether complete or not, and return to the Input/Modify Tab.  A saved transaction can be viewed from the Input/Modify Tab, and it carries an "Input" status.

Notes:

• To clear all of the fields on any of the tabs, click Clear.

• To return to the summary form at any time, click Return to Summary.