3.4 Initiate Islamic Letter of Credit - Back to Back LC

This topic provides the systematic instructions to initiate Back to Back Islamic Import Letter of Credit (LC) in the application.

This option allows the user to initiate a Back to Back LC. User can search or lookup an LC under which Back to Back LC has to be initiated.

To search Back to Back LC:

1. On the Initiate Islamic Letter of Credit screen, click Back to Back LC tab.
2. Perform one of the following actions:
   • Specify the the Reference number/Applicant Name/ Beneficiary Name/Amount/Status in the Filter field.
   • Click to specify the filter criteria. The Filter overlay screen appears. Based on the defined criteria you can view transactions.

   Figure 3-8 Initiate Islamic Letter of Credit - Back To Back LC - Filter
   
   Description of the illustration initiate-islamic-letter-credit-back-back-lc-filter.png
   

   For more information refer to the field description table below:

   Table 3-7 Initiate Islamic Letter of Credit - Back to Back LC - Filter - Field Description

   Field Name	Description
   Reference number	Specify the LC reference number of the Islamic LC for which back to back LC is to be initiated.
   Applicant Name	Specify the applicant name against whom Islamic LC is to be created.
   Currency	Specify the currency to filter the record.
   Amount From- Amount To	Specify the amount range for the Letter of Credit along with the currency under which the LC issued.
   Application Date From- To	Specify the application date range for the Islamic Letter of Credit.
   Expiry Date From- To	Specify the expiry date range of the Islamic LC to filter the record.

3. Click Apply.
   The searched results are displayed based on the parameters provided.

   Figure 3-9 Initiate Islamic Letter of Credit - Back to Back LC
   
   Description of the illustration initiate-islamic-letter-credit-back-back-lc.png
   

   For more information refer to the field description table below:

   Table 3-8 Back to Back LC - Field Description

   Field Name	Description
   Related Party	Specify the Related Party name to filter the LC by Party Name.
   Filter	Specify the the Reference number/Applicant Name /Beneficiary Name/Amount/Status as a filter criteria.
   Filter Results	This section displays the filter results.
   Reference No.	Displays the LC reference number of the LC.
   Applicant Name	Displays the applicant name.
   Beneficiary Name	Displays the beneficiary’s name of the back to back LC.
   Amount	Displays the amount for the back to back along with the currency. The application amount of Back to back should not be more than parent export LC.
   Application Date	Displays the application date of Back to back Islamic Letter of Credit.
   Expiry Date	Displays the expiry date of the of Back to back LC. The Back to Back LC should not have expiry date greater than that in parent LC.
   Status	Displays the status of the Back to Back Islamic LC. The status can be: Active Hold Cancelled Reversed Closed

4. Perform one of the following actions:
   • Click on the desired Reference No. link to view the LC details. The Initiate Islamic Letter of Credit - LC Details screen appears.
   • Click the icon to download the records in CSV & PDF format.
   • Click the icon to setup a column preference by rearranging or removing columns.
   • Click Initiate LC to create new LC.