Inward Collections - Amendments

The Web Channel user with access to Trade Finance have capabilities to view and create an Amendment to manage the Inward Collections documentary. The bank user must able to have a visual representation of the Inward collections transaction which are logged by the bank.

Navigation path: Web Channel > Side Menu > Trade Finance > Inward Collections > Amendments.

UX Overview

Inward Collections - Amendments Overview

This section displays the summary of all the Inward Collections - Amendments that are available for the user. The user can do any of the following:

• View, filter, and search for an Inward Collection Amendment.
• Provide Drawee consent for the Amendment.
• Download or print the individual Inward Collection Amendment.
• View details of individual records. The user has to click on View Details.
• Expand the record to see the summary of Inward Collections Amendments.

Inward Collections - Amendments

This section displays all the records created by the bank user. The default pagination is 10 records per page.

• Search: Use the keywords like Drawer and Document numberto search for the records.
• Filtering: Use the values displayed in the filter to narrow down the search.
  
  Filtering Options:

  • Tenor Type
    • Usance
    • Sight
  • Status
    • New: The record is created by the bank user.
    • Submitted to Bank: The record is submitted to the bank.
    • Processing with Bank: The record is processing with the bank.
    • Returned by Bank: The record is not approved and sent back for more changes.
    • Approved: The record is approved by the bank.
    • Rejected: The record is rejected by the bank.
  • Time Period
    • Today: Considers the records created on the same day.
    • Last One Month: Considers the records created from the last 30 days.
    • Last Six Months: Considers the records created from the last 180 days.
    • Last One Year: Considers the records created from the last 365 days.
    • YTD: Considers the records created from start day of the calendar year.
• Drawer: Specifies the name of the exporter.
• Amendment No: The sequential number of the amendment made for the Inward Collection.
• Tenor Type: Specifies the type of collection. Usance or Sight.
• Received on: The date on which record is created by the exporter bank.
• Amount: The total amount of the collection.
• Status: Current status of the record.
• Actions: Available actions for the user. View Details as per the record level and Print and Download when record is expanded.

Inward Collection Amendments - Record Expanded

The Inward Collection Amendments - record expanded displays the additional details for the particular record.

• Transactional Reference: The unique reference number.
• Maturity Date: The expiry date of the collection. This is displayed when tenor type is Usance.
• Days left to pay: Specifies the days left to pay the exporter.
• Remitting Bank: The name of the exporter bank.

Download and Print options help the user to download or print the LC.

Inward Collection Amendment - View Details

The Amendment View Details page summarizes the Inward Collection Amendment. The user can perform any of the following actions:

• View the Inward Collection Amendment details.
• View details of the Inward Collection.
• Print and Download the Inward Collection Amendment.
• Go back to the Inward Collection Dashboard.

• Collection Summary

  

  • Drawer Details: The name of the exporter.
  • Transaction Reference: The reference number for this transaction.
  • Amount: The total amount for the collection.
  • Tenor Type: The type of inward collection. Usance or Sight.
  • Maturity Date: The expiry date for the collections. The time icon has different colors based on the days left.
    • Green - The difference between current date and maturity date more than four days.
    • Amber - The difference between current date and maturity date is either four or three days.
    • Red - The difference between current date and maturity date is less than three days.
  • Remitting Bank Details: The exporter bank details
• Amendment Overview

  

  • Status: Current status of the amendment.
  • Received On: The date of creating the current amendment.
  • Amendment No: The sequential number of the amendment requested for the Inward Collection.
  • Amendment Reference: The unique amendment reference number.
• Amendment Requested

  

  This section displays the changes requested in the current amendment for the Inward Collection.

  • Amount: The total amount for the collection.
  • Maturity Date: The expiry date for the collections. The time icon has different colors based on the days left.
    • Green - The difference between current date and maturity date more than four days.
    • Amber - The difference between current date and maturity date is either four or three days.
    • Red - The difference between current date and maturity date is less than three days.
  • Tenor Type: The type of inward collection.
  • Remitting Bank Details: The exporter bank details
  • Documents: The list of documents for the current collection
  • Message from Bank: The specific message from the bank.
• Drawee Consent - Accept

  

  • Message from Bank: The specific message from the bank. This is an optional field.
• Drawee Consent - Reject

  

  • Reason For Rejection: Enter the reasons for rejection. This is a mandatory field.
  • Message from Bank: The specific message from the bank. This is an optional field.

View Details of Inward Collection - Amendment

The Amendment details of the inward collections can be viewed in two different ways. One is to view only single amendment and the other way to see all the amendments for a Inward Collection.

View Detailed Amendment

Following are the steps to see the detailed view of Amendment for collection.

1. In the Search bar use Drawer, Transaction Reference and for further filter options to narrow the Amendments.
   
2. On the desired Amendment record, click View Details. This will navigate to Amendments records page viewing the details.
   

View All Amendments for Individual Inward Collections

There might be one or more than one Amendments for a Inward Collection. The user has option to view all Amendments for a single Collection. Following is the procedure to view all Amendments.

1. Click on View Details. This navigates the Inward Collection detailed view.
   
2. Click Amendments tab at the top. The page displays the latest Amendment at the top.
   

The user can click on View Consolidated to view the details of all Amendments current record. On click on View Consolidated navigates to Amendments - Consolidated View page.

The Amendments - Consolidated View have Overview section and Amendment section.

Collection Overview

The Collection Overview have the details of the current Inward Collection.

Amendment

The Amendment overview differs as per the amendment status.

Amendment status: New

This section displays Amendment overview and requested amendment. The user has and option to View and Respond to the amendment. On click of View and Respond, the page navigates to Inward Collections - Amendment page to provide consent.

Amendment status: Approved

This section displays Amendment overview, Drawee consent, and requested amendment.

Provide Drawee Consent for Amendment

The bank user having required permissions to view and provide consent to Inward Collections record can view the details of the collections and provide the consent( Approve/ Reject) for a record. Following are the steps to provide consent.

1. In the Amendment dashboard, click View Details on the desired record to provide consent. This navigates to Inward Collection - Amendment details page.
   
2. Verify the Collection Summary, Amendment Overview, and Amendment Requested.
   
3. In Drawee Consent, the user can select Accept or Reject and amendment based on the criteria.
   
   
   1. If user selects Accept then
      1. Enter the Message to Bank. This is an optional field.
   2. If user selects Reject then
      1. Enter the Reason for Rejection. This is a mandatory field.
      2. Enter the Message to Bank. This is an optional field.
4. Click Submit to provide your consent.
   
5. In the pop-up box, click Submit. This navigates to the Acknowledgment page.

Download or Print Inward Collection - Amendment

The user has two options to download Inward Collection- Amendment records. Either download the complete list displayed on the Collection dashboard page and download or print individual Inward Collection.

Download Inward Collection - Amendment list

Following are the steps to download Inward Collection - Amendment list into excel (.xlsx).

1. Click the Ellipses.
2. Select the option Export List. This downloads the list of Inward Collection records into an excel file.
   

There are two ways to download or print an Inward Collection Amendment. The first way is to expand the individual record(click the arrow) to see the action items Download and Print at the right of the record and second way is to download the Collection Amendment from the view details page.

Download or Print individual Inward Collection from Dashboard

1. Click the arrow to see the summary of the Inward Collection - Amendment record.
   
2. Click Download or Print to download or print Inward Collection - Amendment.
   The download options downloads Amendment in a PDF format. The print option opens a print dialogue box for printing the Amendment details.
   

Download or Print individual Inward Collection Amendment - from Amendment View Details page

1. Click View Details of the individual Inward Collection - Amendment.
2. Click Download or Print icon at the top right of the page to download or print Amendment details.
   

SWIFT MT 700

SWIFT is an acronym for Society for Worldwide Interbank Financial Telecommunication. SWIFT provides a secure, highly encrypted, and reliable messaging service to all financial institutions.

This is an additional feature provided to the Trade Finance Micro App to implement the SWIFT MT700 codes to the fields available in LCs. If there is no SWIFT code, then NA will display adjacent to the field. The same SWIFT MT700 codes will also display in the download and print LCs.

Enable the Spotlight configurations to display the SWIFT tags. Individual configurations are available for Web Channel, download, and print LCs.

Web Channel SWIFT MT700 codes:

Download and Print SWIFT MT700 codes:

Swift and Advices

The bank user with required permissions can see the Swift MT messages and Payment Advices for a particular record. The following is the procedure to view Swift and Advices for a particular record.

1. In the dashboard, search or filter for the record.
2. Click View Details on the record to view Swift and Advices. The navigates to the detailed page view.
   
3. Click SWIFT & Advices.
   
4. In the pop-up,
   • Select Payment Advices to view payment advices for a particular record.
     
   • Select SWIFT MT to view in advices in SWIFT MT mode.
     

SRMS Configuration

The SRMS configurations are shipped as a part of this feature. For more information, see SRMS Configurations.

Experience API

Following are the APIs for Inward Collection - Amendments.

Name	Description	Introduced In
createAmendment	This API is a mock service to create Inward Collections Amendments records.	2022.10
GetInwardCollectionsAmendments	This API retrieves list of Inward Collections Amendments.	2022.10
GetInwardCollectionsAmendmentById	This API retrieves Inward Collections Amendments record by record id.	2022.10
updateInwardCollectionAmendment	This API updates an Inward Collections Amendments record.	2022.10
generateAmendmentReport	This API downloads report for Inward Collections Amendments record.	2022.10
generateAmendmentsList	This API exports list of Inward Collections Amendments records.	2022.10
Object Data Model	This Object Data Model describes the parameter name and other attribute details for Trade Finance.