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متابعة

Who should approve trade finance transactions (trade finance itself, credit administration, credit dept. or others?

Approval of Trade Finance Transactions from the credit point of view to ensure sufficiency of funds, availability of limits and to be in line with facility approved terms and conditions with the required New Import LC Application

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تم إضافة السؤال من قبل Ahmed Sirag ElKilany , Trade Finance Manager , Abu Dhabi Commercial Bank
تاريخ النشر: 2013/09/14
Swarnendu Ganguly
من قبل Swarnendu Ganguly , Area Sales Manager (AVP) , Indusind Bank Ltd

Hi,

 

Its first the Sales team which if understands trade should satisfy self on all points and then give to trade finance. Credit Admin team is the one which finally gives a nod to the transaction when routed through the trade finance team.

dinesh palarapu
من قبل dinesh palarapu , ASSISTANT VICE PRESIDENT , AXIS BANK LTD

I consider the query posed after considering the pre requisites for LC. Hence the competent authority in business should approve

Ahmed Sirag ElKilany
من قبل Ahmed Sirag ElKilany , Trade Finance Manager , Abu Dhabi Commercial Bank

Question is : Who should clear the transaction for processing in Trade Finance Dept. for sufficency of funds, availability of related limit, Ensure that Benef. is not of related concern, Acceptability of purchase order against which LC to be issued, Goods are in line with trade license, etc and all related credit issues ?

Faisal Shahzad
من قبل Faisal Shahzad , Branch Operation Manager , Al Baraka Bank (Pakistan) Limited

As a banker i may say that there may be number of dept. involve in the whole procedure. First proposal is prepared by credit dept. then for further processing is made by the Head Office speciaiized staff. and then all the financial transactions concerning LC is posted by the concern branch staff (trade finance officer) as per approved limit.

Usama Ajaz
من قبل Usama Ajaz , Relationship Associate , Bank Al Habib Limited

Basic responsibility for provisioning of Limits is credits dept. as they analyze the credit worthness of customer so they are the one whose responsibility for allocation of Limits.

Ashraf E. Mahmoud (PhD)
من قبل Ashraf E. Mahmoud (PhD) , University Lecturer, Freelancer Consultant and Trainer for Int'l Business & Banking TF. , FreeLancer

Trade Finance people approved the transaction from technical point of view, before it is presented to the credit administration to check same with the line of credit and limits and then approved by concerned credit officer in the credit department. 

مستخدم محذوف‎
من قبل مستخدم محذوف‎

Hi Sir

First of all the person who incharge with must approve the letter of credit. I think from company to company it deffers. because their policies and procedures are also different. On some companies the international banking manager approve it. whereas on some companies Import division manager approves it. But the point is not who approved it or not, but the availability of currency (position of the bank)

مستخدم محذوف‎
من قبل مستخدم محذوف‎

Recommendations or a brief write up should be provided by he Corporate treasurer based on the proposal presented and the institutions financial strength before final approval given by the CFO or Director of Finance

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