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SmartTrade Finance

SmartTrade is an advanced, on-line, real time and integrated trade finance system, which handles the bank’s entire range of trade finance transactions according to ICC regulations.

The SmartTrade System consists of seven fully integrated modules as follows:

  • Import Letter of Credit (ILC)
  • Export Letter of Credit (ELC)
  • Outward Stand by Letter of Credit (OSB)
  • Inward Stand by Letter of Credit (ISB)
  • Letter of guarantee (LG)
  • Outward Documentary Bills for Collection (OBC)
  • Inward Documentary Bills for Collection (IBC)

SmartTrade, with its highly sophisticated design, provides a full set of trade finance business functionalities that can be easily tuned to meet the bank’s future development:

  • Simplifies trade finance transaction processing
  • Automates most of the trade finance operations, which reduces the risk associated with manual intervention
  • Reduces the paper work
  • Improves the staff efficiency and productivity
  • Precise and quick management information reporting
  • Better customer service

SmartTrade provides full automation for all L/C operations with high control and security measures. All Types of L/C and all payment methods are supported.

For each of the following events, advises, accounting entries, and Swift messages are generated:

  • Issuing
  • Amendment
  • Cancellation
  • Revolving
  • Bills booking Advance / Acceptance with or without Trust Receipt
  • Bills booking Advance / Acceptance against shipping guarantee
  • Advance / Acceptance bill settlement
  • Shipping Guarantee issuance; cancellation / settlement
  • Trust receipt issuance and settlement (partial or full)
  • Reduction/Increase
  • Claims
  • Down payment


Transaction processing Controls

Dual or triple control is applied on each transaction:

  • Data entry level
  • Verification level (might be one or two stages )
  • Manager (no sufficient fund authorization )
  • Real time balance inquiry from bank's host computer


Risk management

Limits for customers are maintained and all limit excesses are reported


Queries and reports

  • Wide range of reports to serve various users and purposes
  • Customers communication reports are optionally produced with local language
  • Add hoc report writer


Liability / Margin Calculation

  • The user defines the formula of liability / Margin calculation as a parameter using easy and powerful script language
  • This formula is used to calculate liability / Margin
  • Liability / Margin is kept in local or foreign currency
  • Shipping guarantee liability may optionally deducted from L/C liability


Commission / Charges Calculation

  • The user defines formula using the script language and enter it as a parameter in order to calculate complicated and multi tears commissions / charges
  • Facility to add any new commission / charges as new accounting entry


Copying from old transaction

  • User may formulate a new L/C by selection of old L/C transaction and charging a specific information such as customer, beneficiary, amount ...etc; while the rest of information kept unchanged


Printed Document Generator

  • Dictionary of more than 1000 variables to be used in designing documents and advises
  • Document designer to allow user to design and draw his own document templates
  • Pre-created templates are provided as default
  • Pre-defined set of documents for every transaction stage
  • Facility to add a new document to a transaction stage


Standard clauses

  • Facility to add unlimited number of clauses to an L/C
  • To facilitate transaction entry; user selects the clause code then the system displays the text and replaces the variables with its appropriate values and the user may alter the clause
  • Facility to add on-fly variables values to the clause text
  • Built-in word processor


Swift/Telex message generation

  • The system has built-in facilities to communicate with various types of Swift CBT
  • Auto generation of Swift/Telex messages
  • Sending the generated messages to Swift CBT or Telex under dual control


Report writer / Scheduler

  • Using graphical built-in Report Writer; users can produce new reports with no programming effort
  • Facility to schedule standard or new reports to be printed on specific date / time


Other Features

  • The system is based on the Client/Server and works with various RDBMS such as Sybase, Oracle, Informix, DB2 or MS SQL
  • Provides Host communication with wide range of Host machines
  • The system generates accounting entries and reports it to either dual or multi currency accounting system
  • Transaction log histories
  • Audit trail reports
  • System events log
  • Queues Status display for general control