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Release of Goods
Transaction LITROG
This transaction is used to meet the requirements to release goods without making any reference to an existing Import L/C or to the receipt of documents.
The application offers two ways of dealing with the release of goods:
- Releasing goods that have been addressed directly to the bank (e.g. release under an air waybill, CMR or FCR)
- Shipping guarantee
Goods are often addressed to the bank of the importer. In order for these shipments to be delivered to the importer/buyer, the bank accordingly releases them to the forwarder/carrier.
A shipping guarantee is issued by the bank in favor of the carrier, if the goods shipped by sea arrive at the destination point prior to the document set.
Releasing the goods saves the importer demurrage and storage costs, while obliging the importer to accept the documents as soon as they are presented.
Process of Releasing Goods:
- The importer applies to the bank for the release of the goods and pledges to accept the documents whether or not there are discrepancies.
- The bank issues a release letter/shipping guarantee to the carrier.
- Once the original document set is received, the document amount is debited to the importer's account. If a shipping guarantee has been issued, it will be substituted for the original bill of lading.
- Upon receipt of the original, the bank reduces the liability booking accordingly an closes the shipping guarantee.
If the goods are to be released after the documents are accepted and a liability booked, relevant messages can be created and sent to the carriers and the customer using the “Common Messages” (BRTFRE) transaction.
Here, the liability is not booked any further.
Requirements
An existing Import L/C contract which is open and not closed.
The numbers of advised and of received document sets must be less than 999.
This transaction creates a new Import L/C Document Set contract.
If an existing document set is selected, it must not be closed and the goods must not be released yet.
For incoming allNETT / RIVO messages see Overview of Incoming messages - allNETT / RIVO.
Transaction Control
Fees
None
Commissions
Results of this Transaction
Diaries
For more information see TRNDIA Diaries.
| Action | Description | Diary | Follow-up Transaction | Comment |
|---|---|---|---|---|
| Create | Documents received? | Today + 5 Working Days | Common Messages | |
| Create | Shipping Guarantee expired | Expiry Date + 10 Working Days | Common Messages | if “Expiry Date” filled and “Release Type”='Release under Shipping Guarantee'. |
Updating/Storing of Amounts (CBS)
Liability (LIA)
Liability for release of goods is booked on Applicant for the shipment amount.
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.
| Name of Message | Receiver | Message ID | SWIFT | TCO | DTA/DTE | Comment |
|---|---|---|---|---|---|---|
| Advice of Release | Bank des Auftraggebers/ Auftraggeber | LITAPL1 | 799 | |||
| Reply Letter of Undertaking | Applicant's Bank/ Applicant | LITAPL3 | 799 | |||
| Release of Goods | Carrier | LITROG1 | If 'Release Type'=Release under AWB/ FCR/ CMR or B/L Endorsement | |||
| Shipping Guarantee | Carrier | LITROG2 | If 'Release Type'=Release under Shipping Guarantee |
Release
Signature required
Transaction Panels
Release Goods
Overview
Discr./Instr.
Shipping Details
allNETT Fields
Advice of Discrepancy
Advice of Payment
Liability
Settlement Details
Settlement
Bookings
Cash Cover
DTAEA Fields
DTALC Fields
Completion
Incoming Tag 72/79
Messages
Compliance
Attachments
Advice Details
Fee Conditions
DTAG Fields
Release Goods
Datafields
| Datafield | Description |
|---|---|
| Own Reference | cf Appendix A, Table LID field OWNREF |
| 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. |
| Currency | cf Appendix A, Table CBB field CUR |
| Open Amount | This field contains the amount available under the letter of credit. cf Appendix A, Table CBB field AMT |
| Revolving Flag | cf Appendix A, Table LID field REVFLG |
| Authorized to Pay, Accept, Negotiate | This field indicates the bank authorized to pay, accept, negotiate or incur a deferred payment for the L/C. |
| Available by | cf Appendix A, Table LID field AVBBY |
| Red/Green Clause | cf Appendix A, Table LID field REDCLSFLG |
| Opening Date | cf Appendix A, Table LID field OPNDAT |
| Shipment Date | cf Appendix A, Table LID field SHPDAT |
| Date of Expiry | cf Appendix A, Table LID field EXPDAT |
| Place of Expiry | cf Appendix A, Table LID field EXPPLC |
| Form of Documentary Credit | cf Appendix A, Table LID field LCRTYP |
| Name | cf Appendix A, Table PTS field NAM |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
| Name | cf Appendix A, Table PTS field NAM |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
| Name | cf Appendix A, Table PTS field NAM |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
| Own Reference | This field contains the reference number of the subcontract created for the respective set of documents presented under the letter of credit. cf Appendix A, Table BRD field OWNREF |
| Currency | cf Appendix A, Table CBB field CUR |
| Maximum Amount | cf Appendix A, Table CBB field AMT |
| Currency | cf Appendix A, Table CBB field CUR |
| Additional Amount | cf Appendix A, Table CBB field AMT |
| Role Presenting Party | This field contains the role of the party which has presented documents under the L/C. If this field is open for selection, the available parties are all contracting parties on the beneficiary side (e.g. beneficiary, advising bank, 2nd advising bank). If the documents are presented by another party, it is possible to select “presenting bank”, which will then open an address field for input. cf Appendix A, Table BRD field DOCPRBROL |
| Sticker Bank | cf Appendix A, Table BRD field STBFLG |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
Overview
Datafields
| Datafield | Description |
|---|---|
| Currency | cf Appendix A, Table CBB field CUR |
| Open Document Amount | This field contains the amount available under the letter of credit. cf Appendix A, Table CBB field AMT |
| Date of Receipt of Documents | cf Appendix A, Table BRD field RCVDAT |
| Date of Advice of Payment | cf Appendix A, Table BRD field ADVDAT |
| Usance, Sight or Mixed | cf Appendix A, Table BRD field DOCFLG |
| Document Set Status | cf Appendix A, Table BRD field DOCSTA |
Discr./Instr.
Datafields
| Datafield | Description |
|---|---|
| Discrepancies | cf Appendix A, Table BRT field DOCDIS |
| Discrepancies Modified | cf Appendix A, Table BRT field DOCDISFLG |
| Ignore Discrepancies | cf Appendix A, Table BRD field IGNDISFLG |
| Comments and Conclusions | cf Appendix A, Table BRT field COMCON |
| Settlement Instructions BR | cf Appendix A, Table BRT field SETINSBR |
| Copies in 1st Mail | This field contains the number of documents in figures to be sent with the first mail. If documents are to be sent with one mail only, insert the total number of each document in this column. |
| Copies in 2nd Mail | This field contains the number of documents to be sent by second mail (if any) |
| Document Description | This field contains the kind of document to be mentioned in the document specification. Either select a document from the selection list or enter the document manually. |
| 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 |
| Type of Advice Received | cf Appendix A, Table BRD field ADVTYP |
| Date to be Paid | cf Appendix A, Table BRD field TOTDAT |
| Date of Discrepancy Advice | cf Appendix A, Table BRD field DISDAT |
| Documents on Approval Basis | cf Appendix A, Table BRD field APPROVCOD |
Shipping Details
Datafields
| Datafield | Description |
|---|---|
| Release of Goods | cf Appendix A, Table BRD field RELGODFLG |
| Release Type | cf Appendix A, Table BRD field RELTYP |
| Request Date for Release of Goods | cf Appendix A, Table BRD field RELGODDAT |
| Expiry Date of Shipping Guarantee | cf Appendix A, Table BRD field EXPDAT |
| Transport Document Type | cf Appendix A, Table BRD field TRPDOCTYP |
| Transport Document Number | cf Appendix A, Table BRD field TRPDOCNUM |
| Date of Transport Document | cf Appendix A, Table BRD field TRADAT |
| Mode of Transport | cf Appendix A, Table BRD field TRAMOD |
| Vessel Name | cf Appendix A, Table BRT field VESNAM |
| Identification of Goods | cf Appendix A, Table BRT field ROGGOD |
| Place of Delivery | cf Appendix A, Table BRT field DELPLC |
| Port of Discharge | cf Appendix A, Table BRT field PORDIS |
| 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 |
| Release Goods to Applicant? | cf Appendix A, Table BRD field RTOAPLFLG |
| Release to Address | cf Appendix A, Table BRT field RELSTOADR |
allNETT Fields
Datafields
| Datafield | Description |
|---|---|
| Date of Transport Document | cf Appendix A, Table BRT field INC22032 |
| Shipping Route | cf Appendix A, Table BRT field INC22033 |
Advice of Discrepancy
Datafields
| Datafield | Description |
|---|---|
| Currency | cf Appendix A, Table CBB field CUR |
| Charges Deducted | cf Appendix A, Table BRT field CHADED |
| Charges Added | cf Appendix A, Table BRT field CHAADD |
| Currency of Total Amount to be Paid | cf Appendix A, Table BRD field TOTCUR |
| Total Amount to be Paid | cf Appendix A, Table BRD field TOTAMT |
| 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 |
Advice of Payment
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 |
| Narrative (TAG 77A of MT754) | cf Appendix A, Table BRT field NARTXT77A |
| 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
Advice Details
DTAG Fields
