8 Bill Settlement
This topic provides the systematic instructions to settle the Bills.
Once the goods are shipped and the Importer receives the trade documents, the Exporter draws out the Bills to be paid by the Importer. With the introduction of the ‘Settlement of Bill’ transaction, the Importer can now liquidate the Bills he has received under his Import LC, i.e. he can instruct the bank to pay the Bills he has received, from one of his accounts. The user can also use one of his booked forward deals while settling the Bill.
The user can settle either multiple bills from his account, with or without a forex deal, or apply for a loan to settle the bills. The user can link the FX deals
- User must have a valid corporate party Id and login credentials in place
- At least a single Import Bill should exist for the party ID and party must having view rights for it
- From the Dashboard, click Menu, then click Trade Finance, and then
click Letter of Credit. Under Letter of Credit, click Import Letter of
Credit and then click Settlement of Import LC Bill.The Bill Settlement screen appears.
Figure 8-1 Bill Settlement
Description of the illustration bill-settlement.pngThis topic contains following sub-topics:
- Bill Settlement – Single Bill – Settlement Details
This topic provides the systematic instructions to settle single Import Bills in the application. - Bill Settlement – Single Bill – Forex Deals
This topic provides the systematic instructions to view and link the forex deals in Bill Settlement in the application. - Bill Settlement - Single - Charges and Taxes
This topic provides the systematic instructions to view the Charges and Taxes details in the application. - Bill Settlement -Single Bill - Attachments
This topic provides the systematic instructions to capture the Attachments details in the application. - Bill Settlement – Multiple Bill – Detailed Settlement Instruction
This topic provides the systematic instructions to settle multiple Import Bills in the application.