I Managed a Documentary Letter of Credit department for over 25 years...​

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While managing the Bank of Boston Canada portfolio, we were ultimately acquired by the BNY Financial Corporation Canada , which in turn was taken-over by GMAC Commercial Credit Corporation Canada, needless to say that they all had their own official procedure.

 

At the time, financial institutions, could not issue Documentary Letter of Credits.  I consequently had to work with a myriad of banks with each their own rules and regulations.

 

I manually managed all aspects of a documentary credit, from issuance to expiry date.

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During that period, I realized how much time I was spending constantly retrieving the same basic information for different reports, time lost for tedious tasks of manually controlling: documents – releases – payments - acceptances and credit status a file at a time.

 

We had to monitor countless transactions in a timely manner, for an accurate client’s liability.

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From that experience, you are about to discover this exceptional software, manageable at a click of a mouse button and allowing you to supervise up to 25 active credits at one glance.