Secured Cloud Based Platform For - Digital Trade Documents Creation - Electronic Transmission - eUCP 600 complied presentation
User Cases, Standard & Users User Case
Standard
Users
Digital communication channel between banks and trade clients
SWIFT MT 798, SWIFT FIN
Banks, Importer, Exporter
Digital platform for creating electronic documents
Industry Standard
Importer, Exporter
Digital platform for sending and receiving electronic documents
SWIFT FileAct
Banks, Importer, Exporter
eUCP 600 complied trade documents presentation for inland LCs
SWIFT FileAct
Banks
How it will add value in trade processing? Improve Compliance Standard
Automated workflow and control
Paperless Operation
Electronic communication
Straight through processing 3
SWIFT FIN FEATURES Closed User Group control Message validation Non-repudiation
SWIFT FileAct
FEATURES SWIFTNet PKI security Closed user group control Advanced transfer management Support for any file format Enhanced header USE Facilitates the exchange of electronic copies of documents between banks and corporates Any document type in any format: Draft guarantee text Export L/Cs: Commercial documents
Technology we will use
USE Facilitates the exchange of structured MT 798 messages between banks and corporates Enables higher level of automation and backoffice integration Specifications are instrument-specific (LCs, Standby LCs, Demand Guarantees) and define the vendor labeling criteria.
1. LC Application submitted to bank by importer 2. LC transmission bank to bank
2 10
3. Notification of to lC issuance bank to importer 4. Advising of LC
13
5. Submission of Export documents to bank by exporter
7
6
6. Presentation of export documents to Importer’s bank by exporter’s bank
Bank Portal
11
Bank Portal
8. notification of receiving export documents/ discrepancy to importer.
12
3
1
8
16
14
9
15
Corporate portal
7. notification of receiving export documents from importer’s bank to exporter’s bank
4 5
Corporate portal
9. Discrepancy acceptance / refusal by importer to importer’s bank ̶̶ Advise . of discrepancy to exporter’s bank-by importer’s bank 10. 11. Re submission of export documents by exporter’s bank to importer’s bank 12. Notification of Acceptance of export documents from importer bank to exporter bank 13. Issuance of acceptance/ making payment 14. Notification to importer regarding acceptance of documents/ payment release by importer’s bank 15. Release of import documents to importer 16. Notification to exporter regarding acceptance of documents/ receiving payments