2.2.3 Trade - Common Feature

  1. SWIFT 2026 changes
    The system has been enhanced to support SWIFT 2026 changes across LC, Guarantees, and BC modules.
    • LC screens have been enhanced to capture party details, INCOTERMS, and HS codes.
    • Guarantee and SBLC screens have been enhanced to capture party details, HS codes, governing law and charges claimed.
    • BC screens have been enhanced to capture party details and HS codes.
    • LC, BC and Guarantee messages will be generated in accordance with SWIFT 2026 standards.
    • Islamic LC, Islamic Guarantees and SBLCs, and Islamic Bills have been enhanced to support these changes.
    • Simulation and handoff APIs enhanced accordingly.
  2. Vessel Tracking
    The system has been enhanced to support vessel tracking.
    • LC and BC screens have been enhanced to capture vessel-tracking details.
    • Additional vessel-tracking and voyage details received from OBTFPM will be persisted in OBTF and included in the response.
  3. Corporate Cancellation
    The system has been enhanced to generate Notification of Cancellation/Refusal messages, MT741, for B2C transactions.
    • A new event, BRRC – Bank Reject Response for Cancellation has been introduced.
    • A new API receives cancellation details and generates MT741 as part of the BRRC event.
    • Applicable charges and taxes may be collected.
  4. Reimbursement Undertaking
    OBTF has been enhanced to capture reimbursement-undertaking details received from the issuing bank during LC/LI initiation, simulation, and amendment processing.
    • Users can manually enter the undertaking amount and expiry date during initiation or internal amendment when these details were not captured initially.
    • New fields capture reimbursement-undertaking details and indicate whether claiming-bank confirmation is required for amendments affecting an existing undertaking.
    • The following new events have been introduced:
      • RMNV – Reimbursement Undertaking Amendment Initiation
      • RCON – Reimbursement Undertaking Amendment Confirmation
      • RREJ – Reimbursement Undertaking Amendment Rejection
    • Reimbursement claim registration has been enhanced to process claims received through STP MT742 messages or entered manually by the reimbursing bank through the Bills Contract Input screen.
    • Additional fields support reimbursement claim notifications and capture MT742 tag values through STP processing or manual input.
  5. Trade Loans
    1. Pre-shipment Loans
      • OBTF now displays pre-shipment loan details availed against an Export LC. Validations ensure the linked loan is considered throughout the LC transaction lifecycle.
      • The system populates pre-shipment/packing-credit loan details linked to the underlying Export LC during Export LC drawing.
      • It also supports repayment of loans linked through Export LC drawing or Export Collection
    2. Trust Receipt Loans
      • OBTF has been enhanced to capture Trust Receipt details and process loans against Trust receipt for Liquidation of Import Collection bills.

Parent topic: Release Enhancements