Under the business sector 'Advance' (BP) it is possible to advance money under sight and usance documents. Both types of document sets can be handled as a sub-sector of Export L/Cs Document Set (BE) and Export Collection (BO).

The purchase of document sets at sight or the discounting of usance documents are normally carried out following the submission of relevant instructions and after agreement with the exporter. The advance payment can be carried out up to the full amount of the value of the documents of a specific tenor and depend on the exporter's credit standing. Advance payments are then credited to a separate finance account with discount being deducted from the finance amount. As soon as the documentary value is received, it is necessary to process the purchase of documents first before then settling the documentary value.

The MyModelbank contains several contracts in different stages of processing to be able to provide examples of various situations. The relevant transactions have been completely processed to illustrate the nature of working with the application. The list of contracts and processed transactions can be found in the section 'Contracts and Transactions'. These examples have been written with the standard version of the application. Due to the fact that customer-specific adjustments may have been carried out, real results can vary from those provided by the MyModelbank.

The different ways of working with the individual transactions are described in the user documentation of the application.