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Advising / Confirming
Transaction LETOPN
This transaction is used to advise the beneficiary of an export letter of credit. If the letter of credit has already been pre-advised or registered, at first the assigned reference number has to be searched or selected. All information stored in the pre-advise or registration can be adapted and updated except for the currency of the contract.
The field “Confirmation Instruct. Received” displays the confirmation instructions received from the issuing bank or from the 1st advising bank. The field “Confirmed by us” shows the current status of the confirmation, whereupon the internal bookings are carried out. It displays, whether a confirmation is present or not. If there is a silent confirmation is available (which is not to be communicated outwards), this status will also be displayed here.
(Details see under “Confirmations”).
The field “Confirmation from 1st Adv. Bank” shows, whether the 1st advising bank has already given its confirmation for the L/C. This field has to be filled only if a 1st advising bank is specified in the contract.
The checkbox “Incoming Transfer” is checked, when an L/C was received via a transfer. It is used for message management. If the receipt was advised via SWIFT message MT 720, the checkbox will be checked automatically.
Assignments
Assignments can be processed on the panel “Assignment of Proceeds”. Further information about this topic can be found under the transaction “Assignment”.
Syndications
Furthermore, syndications can be handled on the homonymous panel. Detailed information about syndications can be found under “Participations Sold (Syndications)”.
Auto-Extension
Standby LCs can be issued for a limited period if banks are concerned about issuing contracts for longer terms. The Auto-Extension functionality provides the ability to automatically extend the expiry date of the contract. The checkbox “Auto-Extension” can be set for a standby LC, which makes the “Auto-Extension” panel visible and allows the user to enter the details of the auto-extension schedule. The Auto-Extension process can be initiated when issuing or amending the contract (such as Advising / Confirming, Advise an Amendment or Internal Amendment). Diary entries are generated or updated in these transactions in order to inform the account officer/relationship manager or applicant of the upcoming Auto-Extension and to process the Auto-Extension itself. The Auto-Extension Advice is sent to the account officer/relationship manager or applicant by processing of the diary in transaction Common Messages. The Auto-Extension is done by processing of the diary in transaction Internal Amendment.
Until timely notice of Non-Extension is given by the account officer/relationship manager or applicant, the standby LC/guarantee will automatically be extended for an additional period as per defined “Extension Period” until the “Final Expiry Date” is reached or cancellation is agreed to by the beneficiary (please refer to Internal Amendment).
Requirements
This transaction creates a new Export L/C contract.
If an existing Export L/C contract is used, it may not be advised or closed.
Incoming Messages
| Channel | Description | MT | Description | Comment |
|---|---|---|---|---|
| S | SWIFT | 700 | Issue of Documentary Credit | |
| S | SWIFT | 710 | Advice of a Third Bank's or a Non-Bank's Documentary Credit | |
| S | SWIFT | 720 | Transfer of Documentary Credit |
For incoming allNETT / RIVO messages see Overview of Incoming messages - allNETT / RIVO.
Transaction Control
Fees
| Fee Code | Set as Default | Units | from | until | Comment |
|---|---|---|---|---|---|
| LEFADV | Yes | 1 | today | Expiry Date |
Commissions
Results of this Transaction
Diaries
For more information see TRNDIA Diaries.
| Action | Description | Diary | Follow-up Transaction | Comment |
|---|---|---|---|---|
| Replace | Export LC Expired | “Expiring on” + 5 Working Days | Closing | If 'Expiring on' filled. |
| Replace | Advice Letter to the Customer | On the “Advice Date”, if filled | Common Messages | The Advice Date can be set on the “Auto-Extension” Panel when checkbox “Auto-Extension” is checked. |
| Replace | Auto-Extension of the Standby | On the “Non-Extension Date”, if filled | Internal Amendment | The Non-Extension Date can be set on the “Auto-Extension” Panel when checkbox “Auto-Extension” is checked. |
| Completed | Diaries that have been generated in transaction “Pre-Advising / Notifying an Export L/C” (LETNOT) will be deleted, if the transaction has been executed as follow-up transaction of the diaries |
Updating/Storing of Amounts (CBS)
The nominal amount of the Export L/C and the maximum amount (including an upwards tolerance) are saved.
Liability (LIA)
The liability is posted depending on the status of the confirmation.
Outgoing Correspondence
Details on creation of messages can be found under DOCEOT Messages. For outgoing allNETT / RIVO messages see Overview of Outgoing messages - allNETT / RIVO.
Assignment Messages and messages concerning Participations Sold (Syndications) will be created.
Reimbursement Claim messages are created under certain conditions.
| Name of Message | Receiver | Message ID | SWIFT | SWIFT Score | TCO | TCX | DTA/DTE | Bolero | Comment |
|---|---|---|---|---|---|---|---|---|---|
| Advice of a Documentary Credit | Beneficiary | LETBEN1 | 774/700, 780/710, 782/720 | T10 or 700*, 710*, 720* | T10 or 700*, 710*, 720* | DTAEA 700, 710, 720 | 461 | ||
| Acknowledgment of Receipt | Applicants Bank or Advising Bank or Issuing Bank | LETISS1 | 730 | ||||||
| Advice of Third Banks LC (MT710) | 2nd Advising Bank | LETA2B1 | 710 | ||||||
| Advice of a Documentary Credit | Beneficiary's Bank | LETBEB1 | 710 | If the 2nd Advising Bank is empty. |
* The TradeConnect message can be created in DTA format alternatively, if activated.
Release
Signature required
Transaction Panels
Overview
Additional Amount
Details
Parties
Goods
Documents
Add. Conditions
Special Paymt Cond. Beneficiary
Special Paymt Cond. Bank only
Further Bank Instructions
Revolving Details
Transfers and Back-to-Back L/C
Assignment
Participation Sold
Liability
Settlement Details
Settlement
Bookings
MT 742 Reimbursement Claim
Cash Cover
DTAEA Fields
DTALC Fields
Completion
Incoming Tag 72/79
Messages
Compliance
Attachments
Fee Conditions
Auto-Extension
DTAG Fields
Overview
Datafields
| Datafield | Description |
|---|---|
| Own Reference | cf Appendix A, Table LED field OWNREF |
| Form of Documentary Credit | cf Appendix A, Table LED field LCRTYP |
| Direct rejection | cf Appendix A, Table LED field REJFLG |
| Responsible User | cf Appendix A, Table LED field OWNUSR |
| Reserved Contract | cf Appendix A, Table LED field RESFLG |
| Currency | cf Appendix A, Table CBB field CUR |
| Nominal L/C Amount | This field contains the nominal amount of the letter of credit cf Appendix A, Table CBB field AMT |
| Additional Amount | If this box is checked, additional amounts are available under the contract and an additional panel is available to enter details. |
| Amount Tolerance - Positive | cf Appendix A, Table LED field NOMTOP |
| Amount Tolerance - Negative | cf Appendix A, Table LED field NOMTON |
| Collateralized L/C | cf Appendix A, Table LED field COLLFLG |
| Amount Specification | cf Appendix A, Table LED field NOMSPC |
| Incoming Transfer | cf Appendix A, Table LED field INCTRF |
| Currency | cf Appendix A, Table CBB field CUR |
| Maximum L/C Amount | This field contains the amount which can be utilzed maximal under the letter of credit and is calculated by using the face amount of the letter of credit plus any positive tolerances. Utilzations are deducted from this amount. Any additional amounts are not taken into account. cf Appendix A, Table CBB field AMT |
| Opening Date | cf Appendix A, Table LED field OPNDAT |
| Date Pre-advised | cf Appendix A, Table LED field PREADVDT |
| Shipment Date | cf Appendix A, Table LED field SHPDAT |
| Date Released on | The date is set when the transaction is saved, when the L/C has been advised to the beneficiary. cf Appendix A, Table LED field ADVDAT |
| Date of Expiry | cf Appendix A, Table LED field EXPDAT |
| Maximum Tenor | cf Appendix A, Table LED field TENMAXDAY |
| Place of Expiry | cf Appendix A, Table LED field EXPPLC |
| Confirmation Instructions from Iss.Bank | cf Appendix A, Table LED field CNFDET |
| Confirmation Status / Confirmed by us | cf Appendix A, Table LED field CNFSTA |
| Confirmation Date | cf Appendix A, Table LED field CNFDAT |
| Currency | cf Appendix A, Table CBB field CUR |
| Amount | cf Appendix A, Table CBB field AMT |
| Partial Confirmation | cf Appendix A, Table LED field PARTCON |
| Applicable Rules | cf Appendix A, Table LED field APPRUL |
| Other Applicable Rules | cf Appendix A, Table LED field APPRULTXT |
| Partial Shipment | cf Appendix A, Table LED field SHPPAR |
| Partial Shipment | cf Appendix A, Table LED field SHPPARS18 |
| Transshipment | cf Appendix A, Table LED field SHPTRS |
| Transhipment | cf Appendix A, Table LED field SHPTRSS18 |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Reference for Address (Optional) | The Beneficiary is the exporter of the good's. cf Appendix A, Table PTS field REF |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
| Revolving Flag | cf Appendix A, Table LED field REVFLG |
| Non-Bank Issuer | cf Appendix A, Table LED field NONBAN |
| Assignment of Proceeds | cf Appendix A, Table LED field AOPFLG |
| Auto-Extension | cf Appendix A, Table LED field AUTRNWFLG |
| Domestic L/C | cf Appendix A, Table LED field DOMFLG |
Details
Datafields
| Datafield | Description |
|---|---|
| Available with | cf Appendix A, Table LED field AVBWTH |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Available in | cf Appendix A, Table LET field AVBWTHTXT |
| Available by | cf Appendix A, Table LED field AVBBY |
| Deferred Payment Details | cf Appendix A, Table LET field DEFDET |
| Drafts at | cf Appendix A, Table LET field DFTAT |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Shipment from | cf Appendix A, Table LED field SHPFRO |
| Port of Loading | cf Appendix A, Table LED field PORLOA |
| Port of Discharge | cf Appendix A, Table LED field PORDIS |
| For Transportation to | cf Appendix A, Table LED field SHPTO |
| Shipment Period | cf Appendix A, Table LET field SHPPER |
| Mixed Payment Details | cf Appendix A, Table LET field MIXDET |
| Presentation Period | cf Appendix A, Table LET field PREPER |
| Days of presentation period | cf Appendix A, Table LED field PREPERS18 |
| Presentation period text | cf Appendix A, Table LED field PREPERTXTS18 |
| Additional Details to Charges Condition | cf Appendix A, Table LET field FEETXT |
| Fee settlement - our fee to be debited to | cf Appendix A, Table LED field CHATO |
| Country Code (for Statistics) | cf Appendix A, Table LED field STACTY |
Parties
Datafields
| Datafield | Description |
|---|---|
| Confirmation Status of 1st Advising Bank | cf Appendix A, Table LED field CNFSND |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
| Confirmation Instructions to 2nd Advising Bank | cf Appendix A, Table LED field CNFINS |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Name | cf Appendix A, Table PTS field NAM |
| Send Directly to Applicant's Bank | cf Appendix A, Table LED field APLBNKDIRSND |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Name | cf Appendix A, Table PTS field NAM |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
Goods
Datafields
| Datafield | Description |
|---|---|
| Description of Goods | cf Appendix A, Table LET field LCRGOD |
| Goods Code (for Statistics) | cf Appendix A, Table LED field STAGOD |
Documents
Datafields
Add. Conditions
Datafields
| Datafield | Description |
|---|---|
| Additional Conditions | cf Appendix A, Table LET field ADLCND |
| Special payment conditions for beneficiary exists | cf Appendix A, Table LED field SPCBENFLG |
| Special Payment Conditions for specified Bank only | cf Appendix A, Table LED field SPCRCBFLG |
| Red/Green Clause | cf Appendix A, Table LED field REDCLSFLG |
| Red/Green Clause Currency | cf Appendix A, Table LED field REDCLSCUR |
| Red/Green Clause Amount | cf Appendix A, Table LED field REDCLSAMT |
| Red/Green Clause Percentage | cf Appendix A, Table LED field REDCLSPRC |
| ALADI Checkbox | cf Appendix A, Table LED field ALADIFLG |
| ALADI Reimb. Code | cf Appendix A, Table LED field ALADICOD |
| Instructions to Paying/Accepting/Negotiating Bank | cf Appendix A, Table LET field INSBNK |
Special Paymt Cond. Beneficiary
Datafields
| Datafield | Description |
|---|---|
| Special Payment Conditions for Beneficiary | cf Appendix A, Table LET field SPCBEN |
Special Paymt Cond. Bank only
Datafields
| Datafield | Description |
|---|---|
| Special Payment Conditions for Bank Only | cf Appendix A, Table LET field SPCRCB |
Further Bank Instructions
Datafields
Revolving Details
Datafields
| Datafield | Description |
|---|---|
| Revolving Type | cf Appendix A, Table LED field REVTYP |
| Credit is Marked as Cumulative | cf Appendix A, Table LED field REVCUM |
| Allowed Revolving Times | cf Appendix A, Table LED field REVTIMES |
| Number of Revolvings under L/C | cf Appendix A, Table LED field REVNBR |
| Revolving Date | cf Appendix A, Table LED field REVDAT |
| Revolving Clause | cf Appendix A, Table LET field REVCLS |
| Notes to Beneficiary | cf Appendix A, Table LET field REVNOTES |
Transfers and Back-to-Back L/C
Datafields
MT 742 Reimbursement Claim
Datafields
| Datafield | Description |
|---|---|
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
Compliance
Auto-Extension
Datafields
| Datafield | Description |
|---|---|
| Count of Advised Subcontracts without Documents | cf Appendix A, Table LED field ADVNBR |
| Notify Period | cf Appendix A, Table LED field NOTNBR |
| Extension Period | cf Appendix A, Table LED field RNWNBR |
| Final Expiry Date | cf Appendix A, Table LED field EXPDATFIN |
| Notification Information | cf Appendix A, Table LET field NOTTXT |
DTAG Fields
