How to Issue Letter of Credit through ICICI Bank Trade Online

"#lc #letterofcredit #issuelc #issueletterofcredit #tradeonline #icicibank

ICICI Bank’s Trade Online portal empowers you to submit trade transaction requests online.
You can now issue and amend Letter of Credit and also issue a Limit Backed or 100% FD backed Letter of Credit online using the Trade Online portal. Watch this video, to learn more on how to issue Letter of Credit.

To access Trade Online:
- Login to ICICI Bank Corporate Internet Banking.
- And navigate to Trade and click on Trade Online.
- You will see the intuitive dashboard.
- To place the request for the new Letter of Credit, click on imports tab and select LC Issuance Requests option.
- The LC submission form opens up.
- You can issue a Limit Backed as well as Fixed Deposit Backed LC.
- Fill in the mandatory details highlighted in the red bar.
- Select the Advising Bank by clicking on search button.
- The details will be auto populated, you can notify beneficiary on transaction completion and click on Submit.
- In case you are requesting for 100% FD backed LC, you can create new FD online.
- You can also save a template.
- Now, you need to upload the soft copy of relevant document in Attachment.
- Click on I Agree.
- And submit.
- Once on the preview check the generated NNL – Non-Negative List Declaration.
- Once reviewed submit the transaction.
- A track reference number is generated.

The approver can see the request pending for approval on his dashboard upon login.
The customer can also track the status of the Letter of Credit request:
- Using LC Enquiry Option.
- Select the request from the list and approve.
- The request has now moved to the bank.

To know more on Letter of Credit:
https://www.icicibank.com/business-ba...

To know more about ICICI Corporate Internet Banking:
https://www.icicibank.com/corporate/c...

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