Thanks for your readymade instant LC+. We are using this package since last two years ,it is very helpful to exporters and importers like us.
We made a lot of improvements in export documentation and some of these points are mentioned below:
| 1 |
Drastically we have brought down the charges outside India with the help of this instrument. |
| 2 |
Thanks to ‘instantLC+’, we could quote the relevant provisions of UCPDC and resolve various issues. Some of such cases are quoted below:
- One of Issuing bank, held our document due to “In insurance policy description of product is not as per LC”. We protested the discrepancy and replied the FB (through our bank): We had quoted article 14 .e of UCP ‘documents other than Commercial Invoice, the description of the goods may be in general terms not conflicting with their description in the credit’.
- Some of our buyer’s bank at Middle East noted a discrepancy for difference in the beneficiary address in the LC and Commercial Invoice; we referred to them to Article 14.j of UCP.
|
| 3 |
Presently we instructed our entire overseas buyer to send the draft copy of the LC before transmitting, to avoid the amendment and advising charges. |
| 4 |
Now every thing is under our control with the help of ‘instant LC+’. |
| 5 |
One interesting thing is that: some Foreign Banks are not replying to our message on discrepancy, but they never repeat such invalid discrepancies. |
Once again thanks a lot.
Regards
Shivaji Shetty
International Business Division
Rallis India Ltd
A TATA Enterprise
- ‘InstantLC+’ is unique for its rich information, instant availability of required info, and its overall coverage.
- Helps us a lot during day to day L/C transactions.
- Really appreciate on the veracity of this software.
Best regards,
Irappa Batgeri
Forbes Marshall Pvt. Ltd., Pune
'InstantLC+' is a unique software which provides comprehensive information in a format which makes accessibility of information easy through better presentation. Further, its applicability to different parties to documentary credits like exporters, importers, bankers and even students makes it an excellent package in terms of value, knowledge and as a ready reference material on your desktop. The user friendly graphical presentations, the sample document specimens and the case studies with required explanations makes the subject more interesting and is easy to understand. In my opinion 'InstantLC+' is the best tool for your Documentary credit know-how.
Mr. P.T Srinivasa
VP & Head-Trade Finance &
Treasury Back Office-Operations,
Development Credit Bank Ltd.
‘InstantLC+’ is a well laid out, sequentially arranged and easy to navigate software. 'Everything about something in one page' and it provides users an 'All in One' solution. It has fewer links that eliminates unnecessary tours and complications. A welcome feature is the collection of Case Studies and the Check Lists which are real time savers. Great effort must have gone in, to bring out such an excellent presentation. Rather a must for the serious exporters/ importers/bankers and students as well.
Mr. V Kumaraswamy
Chief Financial Officer,
J.K Papers Ltd.
The "InstantLC+" package released by Paramshree Infotech Services is very useful to all those who deal with Letter of Credits. What is striking about this package is that it encompasses every important aspect of Letter of Credit, in a seamlessly smooth manner, without any complication. It is, infact, made in such a manner even a novice can master himself/herself by following the step by step approaches. This LC+ package is a boon to the Industry since it readily reflects, someone's vast, varied and rich experience in handling the complicated issues related to LC+.
Besides providing "Check-lists" for Exporters and Importers with which one can be almost sure of his/her LC+, it also provides a Check-list for Bankers, with whom we always face problems. Another note-worthy aspect is that apart from covering all aspects of LC+, this package also covers the Inco terms, terms & conditions of Commercial Contracts, aptly so, as any lack of understanding on these areas, can lead to defeating the purpose of LC+ for which it is established.
Our Organization deals with Letter of Credit vastly, for the export of our Products, for domestic & International Projects (which has multidimensional issues) and for Imports. We find "InstantLC+" software package has a great utility value.
Indeed, it is a handy tool and by using "InstantLC+" package, one can avoid nightmares.
Mr. K. Ram Bharati
Senior Manager-Commercial,
Thermax Limited.
|
