Sterlinks has evolved and is now an internet based letter of credit information and application system. By moving this application onto the internet we believe we can make information available to a greater number of our clients, improve timeliness and reliability and increase functionality. No more dial-up connections, busy signals, lost calls or disconnects.
Sterlinks Web Letter of Credit still permits you to submit your letter of credit applications, and request amendments to existing letters of credit electronically using a personal computer. In addition, you now gain access through the internet at which means you can access information any time you wish from anywhere in the world. The system works with Internet Explorer and any speed access to the internet. There is no need to install or maintain software at your location. Your complete letter of credit database is always available to you and it is as current as that of the bank.
TRANSACTION PROCESSING
Sterlinks Web Letter of Credit permits you to submit an application by either key entering the required information or by using the Template or Same As functions, which greatly reduce the time required to complete the process. We know time is valuable, so we want the letter of credit process to be fast and accurate. That is why we have gone to great lengths to make the process simple and why we take the time to build the database elements for you.
We’ve also made amending existing letters of credit as simple as possible by making the frequently requested changes such as extensions of expiry or latest shipping dates or increases or decreases in amounts, selectable on the amendment screen thereby reducing the key entry required to complete the amendment.
However, we didn’t stop there. In Sterlinks Web Letter of Credit we have also made images of documents presented for payment available to you to assist you in the decision making process of accepting or declining documents that are discrepant. And you can manage the entire process from the privacy and convenience of your computer’s desktop.
SECURITY
Sterlinks Web Letter of Credit was designed with today’s security concerns in mind. Your system will be protected through the use of a sophisticated User ID and Password System maintained by your system administrator. In addition, each User’s profile can be customized to permit or deny access to any of the functions. The system also requires that the entry User ID be different from that of the Verifier, thereby implementing a strict system of dual control on every transaction created.
INFORMATION & REPORTS
This system has been designed by Sterling to interface directly with the newly developed Letter of Credit system. As such you will have available the complete database of your letter of credit activities whenever you need it and the information is as current as that at the bank. Reports can be generated on the information and can either be previewed on screen or sent to a printer. A complete history of all amendments and payments to each letter of credit is available. We will also include the text of the SWIFT message used to transmit the information for the issuance or amendment of all letters of credit.
PRIORITY PROCESSING
Transactions initiated through Sterlinks Web Letter of Credit receive the highest priority processing of any transactions in the Bank’s Letter of Credit Unit and are processed immediately upon receipt .
For additional information view our demo or to gain access to Sterlinks Web Letter of Credit call Michael Scheller, SVP at 212-575-8012
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