Letter of credit issuance and drawings

Step by step

1. Review credit instrument Credit Officer

   Credit Officer submits the instrument with applicant, limit and expiry under the approved application. Credit Approver approves it once evidence is verified and the issuing bank has acknowledged it.

   • Instrument Approved or Rejected
   • Updates Credit instruments, Review decisions
   ApprovalA person approves before the work moves on.

2. Issue letter of credit Trade Operations Officer

   Trade Operations Officer records the letter of credit from the bank's issuance receipt, with bank reference, limit and expiry.

   • Credit Issued
   • Updates Letters of credit

3. Amend if needed Trade Operations Officer

   Trade Operations Officer records amendments the bank confirms, and the credit shows Amended.

   • Credit Amended
   • Updates Letters of credit

4. Settle drawings Trade Operations Officer

   Trade Operations Officer records each presentation with its document set, amount and date, then the bank's decision and settlement date. Drawings never exceed the limit.

   • Drawing settled
   • Updates Credit drawings, Letters of credit

5. Close Trade Operations Officer

   The credit is Closed when fully drawn or Expired at its expiry date, and the instrument is Completed.

   • Credit Closed or Expired, instrument Completed
   • Updates Letters of credit, Credit instruments

Credit Officer

, Credit Approver, Trade Operations Officer.