2.12.22 Bill of Exchange

This topic provides the information on Bill of Exchange.

The system allows to add collaterals of type Bill of Exchange in GCDCOLBE screen while creating customer collaterals.

Note:

The user can add any number of bill of exchange as collateral. While creating a collateral record, at least one bill of exchange must be available as child collateral.

In case, the bill of exchange currency is different from the collateral currency, the system converts the bill of exchange amount to collateral currency with the configured exchange rate.

Note:

The Collateral Value derived from the linked bill of exchange cannot be changed manually.

If multiple bill of exchange are added as collaterals, the collateral value is the sum of all the added bill of exchange amounts.

End date of the collateral is derived based on the farthest bill due date of the linked bills of exchange.

Note:

Collateral end date derived from the linked bills of exchange can be changed manually, but it cannot be less than the derived date.

1. On the Home screen, specify GCDCOLBE in the text box and click the icon.
   The Bill of Exchange Desc screen is displayed.

   Figure 2-89 Bill of Exchange Desc

   
   

   
   Description of "Figure 2-89 Bill of Exchange Desc"

   
   
2. On Bill of Exchange Desc screen , click the Bill of Exchange tab.
   The Bill of Exchange sub-screen is displayed.

   Figure 2-90 Bill of Exchange

   
   

   
   Description of "Figure 2-90 Bill of Exchange"

   
   

   For more information on fields, refer to the field description table.

   Table 2-104 Bill of Exchange - Field Description

   Field	Description
   Amount in Collateral Currency	Bill of Exchange amount converted to collateral currency, if the bill of exchange currency and the collateral currency are different.
   Bill type	Select the bill of exchange type from the drop-down list. The options available are: Demand Bill Usance Bill
   Reference Number	Specify the reference number of the bill of exchange.
   Drawer	Specify the name of the Entity issuing the bill of exchange.
   Drawee Name	Specify the name of the bank at which the bill of exchange issued by the entity is to be drawn.
   Payee	Specify th recipient or bearer of the bill of exchange.
   Currency	Click the icon and select the currency of the promissory note.
   Bill of Exchange Amount	Specify the amount mentioned in the Bill of exchange.
   Date of Bill	Specify the date on which the bill of exchange is issued.
   Date of Presentment	Specify the date of presentment for demand bill. This date is mandatory only if the Bill type is selected as Demand Bill.
   Usance period (Months)	Specify the usance period in months. This date is mandatory only if the Bill type is selected as Usance Bill.
   Bill due date	Due date of the bill of exchange. For Demand Bill : Bill due date = Date of Presentment For Usance Bill : Bill due date = Date of Bill + Usance period
   Bill Payable to	Bearer/order of payee of the bill of exchange issued by the entity.
   Place	Specify the place or address of execution of the bill of exchange.
   Status	Selecy the status of the bill of exchange. The options available are: Active - During new collateral creation process of bill of exchange, the Status will be selected as Active by default. Settled: After saving the collateral, the bill of exchange can be marked / updated as Settled either manually by user or through an automatic update process based on the date captured as settled at any point during the collateral life cycle. Note: Collateral value will get reduced based on the individual status update of associated / linked bill of exchange. If the status is set to Settled, it cannot be changed as Active again.
   Remarks	Specify the additional details of the bill of exchange, if any.

3. Click Save to save the record.