Banks issue letters of credit as a way to ensure sellers that they will get paid as long as they do what they’ve agreed to do.
Letters of credit are common in international trade because the bank acts as an uninterested party between buyer and seller. For example, importers and exporters might use letters of credit to protect themselves. In addition, communication can be difficult across thousands of miles and different time zones. A letter of credit spells out the details so that everybody’s on the same page.
Web based multi user system
All features in the current live system will be incorporated
All MIS and Regulatory Reports that are now generating from the Desktop Application
Customizable Entry Module for Data Entry and Amendment
Fully parameterized by the admin/manager role
Event Setting and Automatic Alert Notification
Integrated Letter/Certificate generation module
WYSIWYG Letter/Certificate designer
Dynamic Reports: Reports can be taken on dynamic filter and customizable fields as and when required
Reports in Microsoft Excel, Adobe PDF, Microsoft Word
Java Enterprise Edition based application backend
Active Directory authentication for login and access
Group policy standard security matrix with following Central Bank ICT guideline
Audit trail and user access log
Platform : Java Web based Solution/J2EE, SQL Server DB.
Clients : Hong Kong and Shanghai Banking Corporation Ltd.