The letter of credit (L/C) is the standard payment method for high-value export orders, yet "document discrepancies" that lead to rejected negotiations remain a chronic industry pain point. SBK digitizes the entire L/C lifecycle — from issuance to checking, document presentation and negotiation — automatically verifying document compliance against a UCP600 standard-clause library so that negotiation clears on the first attempt.
Issuance → checking → preparation → presentation → negotiation → settlement, fully traceable end to end
Paste SWIFT MT700 messages directly and extract key fields (amount, shipment date, negotiation period, clauses) into structured data
Compare the invoice, packing list, bill of lading, certificate of origin and insurance policy against each L/C clause, with discrepancies highlighted
Manage partner negotiating-bank profiles, including SWIFT code, negotiation rates, duty deposits and contact details
Calendar-day alerts for shipment date, negotiation period and L/C expiry, preventing costly lapses
Negotiation charges, cable fees, SWIFT fees and discount interest are calculated using each negotiating bank's preset rates
A library of 50+ explained UCP600 standard clauses lets new staff learn while checking credits, cutting training costs
L/C clauses vs contract clauses
When an L/C arrives, check it first: are the clauses consistent with the contract, is the shipment date enough to prepare goods, is the negotiation period reasonable, and are there any soft clauses (deal-breakers such as a buyer's inspection certificate)? SBK captures the L/C's key fields as structured data and automatically compares them with the contract to surface differences, cutting checking time from two hours to twenty minutes.
Invoice / Packing / B/L / C.O. / Policy
Negotiating banks scrutinize documents rigorously: invoice amount vs. L/C amount, B/L shipment date vs. L/C shipment date, packing-list total packages vs. B/L total packages, certificate-of-origin country vs. invoice origin. Any mismatch means rejection. SBK automatically cross-checks the key fields of all five documents and lists every discrepancy.
Five settlement milestones
After documents are presented to the bank for negotiation, you still wait for the issuing bank to pay — a week at most, two days at best. SBK records every milestone: presentation date → negotiation date → advising-bank payment date → issuing-bank payment date → exporter account credit date — fully transparent for easy finance reconciliation.
A buyer opens a USD 2M sight L/C; checking reveals the 30-day shipment window is too tight, so the salesperson asks the buyer to amend the credit and extend it by 15 days.
An L/C contains a soft clause requiring "negotiation against the buyer's inspection certificate"; the system flags it, and the salesperson declines and requests an amendment.
A pre-presentation compliance check shows all five documents green; the negotiating bank pays normally three days later with no discrepancies.
A shipment one day late creates a discrepancy; assessing the buyer's reputation, the salesperson decides to have the buyer accept the discrepancy rather than reject the documents.
An L/C touches five core documents: contract, PI, bill of lading and settlement
The PI is the basis for issuance; the CI is the core of negotiation
The original B/L must accompany the documents presented for negotiation
L/C negotiation proceeds are auto-reconciled on arrival
Check contract clauses against L/C clauses for differences
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