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 closes the loop for Export L/Cs through the use of its unique electronic document presentation solution (ePresentation), enabling full electronic presentation of documents to the negotiating bank and if required through to the issuing bank and end customer.
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.