Managing your Export Letters of Credit is all about the details. Reducing opportunities for error, paying attention to deadlines, and reconciling against existing Letters of Credit are all top priorities that require diligent attention.
With TradeBeam, we’ve developed features that take the heavy lifting out of the process, while ensuring you don’t make costly mistakes.
- Document Preparation
- Letter of Credit Reconciliation
- Third-Party Collaboration
- UCP600 and eUCP compliance
- Audit Trails
Here’s what TradeBeam can do for you
Streamline & Manage the Process
Our solution centralizes Letter of Credit document preparation and distribution in a secure location. The system generates most necessary documents based on the originating Letter of Credit terms, avoiding inconsistencies.
Online Letter of Credit Presentation
Track your Letter of Credit payments and manage maturity dates and payment dates, amounts, currency, fees deducted, and accounts credited.
Set alerts to notify you of significant Letter of Credit events, such as new Letters of Credit, amendments, approvals, maturities, payments, delays, holds, expirations, latest shipment dates, and other exception events.
UCP600 & eUCP Compliance
UCP600, the Uniform Customs and Practice for Documentary Credits (UCP), is a set of rules on the issuance and use of Letters of Credit. All TradeBeam-produced documents are UCP600 and eUCP compliant.
Create an Audit Trail
TradeBeam’s process automatically creates an auditable transaction record that minimizes the administrative time you spend pulling records for review from multiple sources.
Reconcile your Letter of Credit data against critical supporting documents, including transport documents, invoices, packing lists, and others, to ensure low discrepancy rates at presentation.
Collaborate With Third Parties
Our collaborative platform allows your partners to share data, scan document images, upload files, and transmit information electronically.
Integrate Bank System Information
Upload your Letter of Credit data from select bank systems using Microsoft Excel, with no integration work, or automatically receive Letters of Credit from any bank system as MT700 and MT707 electronic messages.
Detailed online reporting is available through customizable Export Letter of Credit reports. Your reports can also be printed or downloaded to spreadsheet applications.