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Letter of credit management

Letters of credit, planned on the date that matters

Most LC problems start with a missed date. Expodite plans each credit on its latest shipment date, tells you when documents must reach the bank, and records every presentation, discrepancy and amendment.

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  • Planned on the latest shipment date, not only expiry
  • Presentation deadline shown for every shipment
  • Late presentation caught and recorded
Every creditwatched on shipment date and expiry
Every presentationwith its deadline and discrepancies on record
Every amendmentaccepted or rejected in full, as UCP 600 requires

How it works

  1. Step 1

    Record the credit

    Enter the credit's details once. Expodite keeps it on record from start to close.

  2. Step 2

    Link orders and shipments

    Link the credit to the buyer's orders and shipments. Expodite shows how much of the credit is used.

  3. Step 3

    Lodge each presentation

    Record each presentation to the bank. Expodite shows whether it is on time before you save, and keeps any bank discrepancies with it.

The right clock

Plan on the latest shipment date, not just expiry

An LC that has not expired can still be lost if the goods ship late. Expodite leads with the latest shipment date. The register shows dates coming up, presentations due and credits that have lapsed, so your team knows which credit needs action this week.

  • Shipment date and expiry both watched
  • Upcoming dates and lapsed credits at a glance
  • Open credit value and amount negotiated this year at the top
Presentations and discrepancies

Late presentation caught before the bank does

Expodite knows when documents must reach the bank for each shipment. A late presentation is recorded as a discrepancy, so it is never missed. Bank discrepancies are kept on each presentation, so you can see patterns across credits and banks.

  • Deadline shown before you save
  • Late presentation recorded automatically
  • Discrepant presentations counted in the register
Amendments and utilisation

Amendments and over-commitment, on record

Record each amendment from the bank, with its charge, and accept or reject it in full. If you link more orders than the credit covers, Expodite warns you.

  • Each amendment accepted or rejected in full
  • How much of each credit is used, at a glance
  • Warning when linked orders exceed the credit
Alerts

Told in time, not after the date has passed

Expodite alerts your team before key LC dates, when documents are due at the bank, and when a discrepancy or amendment is waiting for action.

  • Shipment date and expiry alerts
  • Presentation due and overdue alerts
  • Open discrepancy and amendment alerts
“With Expodite's export management software, we configured our complex engineering order workflows in just a few days.”
DirectorAn engineering equipment exporter

Works with

Shipment workflow

Every stage of the shipment, with the right form at each step.

Learn more Payments and receiptsLearn more

Questions

Which dates does Expodite watch on a letter of credit?

The latest shipment date, the expiry date and the deadline for each presentation. The latest shipment date comes first, because it is the date most often missed.

How do we know when documents must reach the bank?

Expodite works it out for each shipment from the terms of the credit and shows it before you record the presentation.

What happens if we present late?

Expodite records the late presentation as a discrepancy, so it is never missed in your records or your discrepancy count.

Can we accept only part of an amendment?

UCP 600 does not allow partial acceptance, so Expodite records each amendment as accepted or rejected in full.

Can one letter of credit cover several orders?

Yes. Link as many orders and shipments as needed. You are warned if they go above what the credit covers.

Free up your time. Grow your exports.

A free 30-minute demo, online.

Book a free demoOr write to info@expodite.in

+91-8858857369 info@expodite.in

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