Request Import Finance

Introduction

This feature enables the user to Request Import Finance. While requesting for an Import Finance, the customer can apply for a new import loan account or Trust receipt.

Navigation

• Click Request Import Finance  in the Open an Account screen.

What you can do

The table below provides a brief description of the data that should be entered on the screen and the functions you can perform:

Field

Description

Instrument Type

Select the Instrument Type from the drop-down list.

Valid Values:

Bill

Collection

Instrument Reference Number

Enter the reference number of the instrument type selected.

Note:

• User can click the lookup button to select the instrument reference number.

• Lookup will fetch the list of Import Bills or Import Collections according to the instrument type selected.

• Only bills or collections with the status Lodged and Part Realized will be listed.

• If this field is left blank, then the error message “Instrument Reference Number is mandatory” is displayed.

Currency and Amount

Displays the Bill currency and amount.

Import Finance Type

Select the appropriate option button.

Valid Values:

Apply for New Import Lon

Apply for Trust Receipt

Loan Amount

Enter the loan amount and select the currency of the amount.

Note:

• If this field is left blank the error message “Please enter the Loan Amount” is displayed.

• Loan amount cannot exceed the outstanding amount of the bill else the error message “Loan Amount cannot exceed the Outstanding Amount” is displayed.

Finance Period in Months

Enter the tenor of the loan.

Note:

If this field is left blank, then the error message “Please enter the Finance Period” is displayed.

Select Limit ID

Select the limit node to be used. Look up will list the limit IDs available for the corporate fetching the details from backend core system.

Debit Charges From

Select the operative account from the drop-down list to debit the charges.

Note:

If this field is left blank then the error message “Please provide the Account number to Debit Charges” is displayed.