Bolero for Export L/Cs is a multi-banking service that enables Corporates to interactively manage, view, print and download their Export L/C Advices on the same platform, in the same format, regardless of the identity of the Advising Bank. It also addresses the amendments process and caters for all types of L/C’s, including Standby’s.

That means that Bolero helps to bring all the information together relative to Export L/C’s which in turn enables Corporates to establish the overall picture of outstanding L/C’s, in a way that reflects the business hierarchy or organizational structure.

All Export L/C information is readily available on the Export L/C Dashboard which can be configured for specific customer need and is the basis for all user and bank activity related to these L/Cs.

As with all Bolero Trade Finance applications, Bolero provides an elegant solution to the traditional issues related to the tracking of amendments. Because Bolero provides electronic communication with all advising banks, and uses structured message formats, the Dashboard automatically traps amendments and manages these as discrete amendments to a given L/C. The status of individual amendments is fully visible with the ability to view the current “operative instrument” (the latest agreed amended view of the L/C) at the click of a button.

Bolero now also provides a configurable Document Preparation capability. This solution helps with the preparation of the documentation that will need to be presented during the negotiation of the L/C. The Document Preparation solution not only facilitates the creation of internal documents (e.g., invoice, shipping instruction), it also enables the creation of external documents in a collaborative process with relevant parties (e.g., Bill of Lading, Inspection Certificates).

Like all Bolero applications, the Export L/C capabilities are designed to be fully interoperable and compliant with the ICC’s UCP and eUCP and with SWIFT’s Category 7 Standards.

During 2010, Bolero will fully release its Presentation Dashboard for Export L/Cs, closing the loop for the Exporter from receipt of a pre-Advice, or L/C Advise through presentation of documents to the bank through to confirmation of payment. The Presentation Dashboard provides a single workstation for the management of all presentations, together with the related process flows between Exporter and bank. This also includes the ability to present documents electronically using the unique security, non-repudiation and legally certainty guaranteed by use of the Bolero messaging channel (Bolero Open4Trade). Because Bolero has been designed to transport as originals all trade documents including documents of title this means that even the Bill of Lading can be included fully in an electronic presentation. For details of the Bolero Bill of Lading and the power of the Bolero Title Registry please go to Core Technology Overview or download the white paper “Legal Aspects of a Bolero Bill of Lading”. Bolero fully supports eUCP.

For more details of the options supported by the Bolero Electronic Presentation facility, download the white paper “Electronic Document Presentation”