Your First Letter of Credit in Bankors

Creating your first Letter of Credit in Bankors is straightforward. Follow these steps.

Enter LC Details

Applicant, beneficiary, issuing bank, and contract references. Bankors validates required fields and suggests defaults where possible.

Charges and Terms

Bankors auto-calculates charges, VAT, and margins based on your bank terms. Review and adjust if needed. No more spreadsheet errors.

Preview Journal Entries

Before submission, preview exactly what will post to Oracle Fusion GL. Ensure accuracy and compliance. Submit when ready.

Track Amendments

Every amendment—extensions, increases, beneficiary changes—is logged. Full change history for audit and compliance.

Conclusion

Your first LC is just the beginning. Bankors scales to dozens or hundreds of LCs, LGs, and loans with the same ease.