Make sure that you have a complete overview of all your guarantees and LCs at any time. Use simple and flexible reports that will give you all the right answers about trade finance at the press of a button.
Keep it simple
Maintaining internal and bank guarantees can be quite simple using well-structured trade finance workflows that support your daily work and make sure that nothing gets lost along the way.
Your trade finance requirements will change over time. A flexible solution takes this into account and supports you in meeting these new requirements.
How much headroom is left?
The available headroom of your guarantee facility must be visible at all times as well as any future demands on that facility.
Use electronic formats to automate opening guarantees and LCs.
Do you use internal guarantees? Take the pain out of the internal billing process by completely automating this process.
Guarantees and LCs cost money. The trade finance costs should be closely monitored and form an integral part of your regular bank meetings.
Attach any guarantee and documents directly to your internal or external guarantees. This is the best way to keep track of them and to find them quickly.