BFSOFT SmartTrade System

a Trade Finance System

Product Specification
 

General

SmartTrade system supports

  • Import letters of credits Module

  • Export Letters of Credits Module

  • Outward Standby letter of Credit Module

  • Inward Standby letter of Credit Module

  • Outward/Inward Letter of Guarantee

  • Outward/Inward Documentary Collection

 
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

 

 
 

Copyright© To B&F Soft Inc.