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This glossary defines terms used throughout the Trade Services system and online help.
Note: Use your browser's Back button to return to a topic after displaying a glossary definition.
Glossary terms are sorted in alphabetical order. Click on a letter below to go directly to the beginning of that letter's section in the glossary.
Buttons on a page in the system that perform an action. For example, Route, Authorise, Save, and Delete. Different action buttons display on pages, depending on the page and your security rights.
A transaction initiated by your bank to communicate to you that another party has opened a Letter of Credit in your favor.
The bank that communicates the Letter of Credit to the Beneficiary.
A shipping document issued by the carrier and given to the shipper. This document acts as a title of goods, contract for delivery, and receipt of goods. An Air Waybill Release instrument is issued by a bank to support the delivery of goods to a Party when the goods were consigned to the bank.
A transaction for an instrument that amends, or makes changes to, the previous transaction(s) for the instrument. You work with amend transactions for applicable instrument types in the Instruments area of the system.
The Party making application for the instrument.
The bank with which the Applicant has a relationship.
An instrument issued by a bank at the request of a customer, that sets out certain terms which when met will prompt the bank to make payment or issue an undertaking to make a payment at a later date.
A user with the correct security profile will be able to attach a document to a portal transaction during transaction processing or a mail message. A document can be added to any transaction or mail message originating in the portal prior to authorisation or routing the message to the bank. Selecting choose file on the attach document screen allows for a variety of documents to be attached. Drag and Drop functionality is available for the user to drag and drop documents from File Explore onto the attach document screen. When the documents are dragged and dropped into the Portal, they must be placed in the area bordered by the dotted line. A maximum of 10 documents can be dragged and dropped/attached at one time.
The process by which the Trade Services system validates the users login/identity credentials, and provides the user with access to the system. The Trade Services system determines, during authentication, the appropriate branding and language to display on the application pages, and what information to display to the user.
A transaction error that occurs during authorisation and is caused by invalid data. An authorisation error prevents the completion of the authorisation process. You view authorisation errors in the Instruments area of the system.
A transaction that has completed all internal transaction stages in the system (for example, Started, Partially Authorised, Authorised) and is ready to be processed by the bank. You view authorised transactions in the Instruments area of the system.
A grouping of operational bank organisations within a client bank that provides services to Corporate Customers.
The Party selling the goods and, therefore, receiving the payment.
The bank with which the Beneficiary has a relationship.
See Web Browser.
Comma-Separated Values. A type of file that can be opened in either a spreadsheet (such as Microsoft Excel) or plain text editor (such as Notepad or Wordpad). In this type of file, column values are separated by a comma.
The Cash Management Transaction folder contains three tabs which list the Pending (Cash Management) Transactions, the Authorized (Cash Management) Transactions and the Payment Transaction History tab.
Logical groupings of objects in the reporting universe used for creating and generating reports. Examples of classes in the Trade Services reporting universe include Instruments, Transactions, and Parties. Objects are indicated with a folder con in the web panel object listing.
A bank that provides a Corporate Customer with services.
The client of a bank that uses the Trade Services system to process trade transactions. It is considered to be any corporate entity. This concept also describes a corporate parent or a child in a complex corporate hierarchy of parent/child organisations.
Describes a complex structure of corporate organisations that are associated together in a parent/child relationship.
The bank that collects payment for an instrument.
The bank that manages business for a Foreign Bank within the Correspondent Bank's own country.
A reference data item containing information about the Cross Rate Calculation Rules that your organisation deals with. This will capture currency pairs and the corresponding calculation method which will be utilised for transactions that contain two currencies not equal to base where a foreign exchange contract is present. This will ensure that the correct calculation method is used for the rate provided in a Foreign Exchange Contract After a Cross Rate Calculation Rule is entered into the system, the Cross Rate Calculation Rule and its details can be referenced on any transaction created in the system. You work with Cross Rate Calculation Rules in the Reference Data area of the system.
The currency for your organisation, which your bank defines in your organisation's profile.
Compilation of the original instructions for the transaction, in addition to any amendments, as processed by your bank. You view current terms for a transaction in the Instruments area.
A report that you create in the Reports area of the system that is available only to users in your organisation. You create, edit, and generate custom reports in the Custom Reports tab of the Reports area. Contrast custom reports with standard reports.
A function of the Trade Services system that enables the bank to perform certain actions on behalf of the corporate customer organisation. An administrator can use the Customer Access facility through the Admin area of the system.
The first instrument template created by the bank for a Corporate Customer organisation and used as the default template for subsequent transactions. An administrator identifies the default template in the Reference Data Area of the system. The default template cannot be deleted.
A user with the correct security profile will be able to delete the selected PDF document from a portal transaction before authorising the transaction.
A bank that is linked to a Party in the Trade Services system. You identify the designated bank for each Party in the Reference Data area of the system.
A page in the system that provides details on an item, such as a transaction, message, or reference data item. Examples of detail pages include the Party page, Mail Message page, and any transaction form.
A change from the original requirements specified in the original trade instrument.
An instrument that sends commercial documents to the bank in order to arrange for the financial proceeds to be collected and paid to the presenter of the documents. It is a documentary collection arrangement in which an exporter sends the collection documents (accompanied by collecting instructions) directly to the importer's bank in order to arrange for the financial proceeds to be collected.
. These codes are representative of the Industry Standards Discount Codes defined at the Client Bank level.
A message from your bank informing your organisation that there are discrepant items or documents for a transaction you have sent to the bank for processing. To resolve a discrepancy, you can create a discrepancy response and send it to the bank. You view and respond to discrepancy notices in the Mail page of the Messages area.
Instructions to bank detailing how to deal with the discrepancies communicated to you through a discrepancy notice from your bank. You work with discrepancies and discrepancy responses in the Messages area of the system.
A document that is required for processing of an instrument. In the system, you can view documents for an instrument through the Instrument Summary page after the instrument has been processed by the bank.
A software package that creates commercial documents from the information contained in a Letter of Credit.
A payment instrument facilitating the movement of money between counterparties located in the same country, usually in the local currency. It may be a monetary movement from one debit party to one credit party, or from one debit party to multiple credit parties in one transaction/instrument.
An action that copies a file from the Trade Services system to a local drive or folder on your computer. For example, you can download Export Letter of Credit data, report data, and documentation files from the system to your computer.
A view of an item in the Trade Services system in which you can edit the item's details and take action on the item. Pages display in edit mode in the system when the item displayed in the page has a certain status or when you have appropriate security rights to edit the item in the page. Otherwise, the page appears in read-only mode.
An instrument that sends commercial documents to the bank in order to arrange for the financial proceeds to be collected and paid to the presenter of the documents. It is a documentary collection arrangement in which an exporter sends the collection documents to his/her bank requesting the bank to forward the documents to the importer’s bank in order to arrange for the financial proceeds to be collected.
An instrument initiated by Exporter or Seller to request financing prior to receiving payment of goods by the bank.
A Letter of Credit instrument as viewed by the seller of the goods.
An instrument template created by your bank in which some of the data fields that have been completed are read-only. Contact your bank for more information on the express templates that may be available to your organisation.
The amount that one currency will buy of another currency. You work with foreign exchange rates in the Reference Data area of the system.
A mail message to or from your bank either in reference to a specific transaction or containing general trade-related information.
An instrument that can be initiated in the system requesting that money be transferred directly from one bank account to another (without any paper money ever changing hands). For more information see the Issue Funds Transfer Request transaction page.
An instrument issued by a bank promising to pay a set amount of money, in the event of the failure of its client to fulfill its obligations. A Guarantee can be either Outgoing (initiated by your organisation and sent to your bank for processing) or Incoming (initiated by another organisation and sent to you by your bank).
A type of file that can be opened in your web browser.
If applicable, the structure of a corporate customer organisation, including the main organisation and its subsidiaries and/or branches. See also corporate hierarchy.
An electronic view of a document sent by the bank to support a transaction. You view document images in the Instruments area of the system.
An instrument that sends commercial documents to the bank in order to arrange for the financial proceeds to be collected and paid to the presenter of the documents. It is a documentary collection arrangement in which an importer sends the collection documents to his/her bank requesting the bank to forward the documents to the exporter’s bank in order to arrange for the financial proceeds to be collected.
An instrument issued by a bank at the request of a customer, that sets out certain terms which when met will prompt the bank to make payment or issue an undertaking to make a payment at a later date.
The industry standard description of the agreed purchase (or supply) terms. An example of an incoterm is "Cost Insurance Freight" or "Cost and Freight". You include incoterms on transactions entered in the system.
A group of transactions in the Trade Services system. The first transaction is an issue (for activities generated in the Trade Services system) or could be either an advise or issue, for bank-initiated activities. Subsequent transactions are amendments, payments (issued by the bank), and usances (issued by the bank). An instrument can have related instruments; for example a usance Letter of Credit would have related instruments representing future payments. You work with instruments in the Instruments area of the system.
The unique identification number assigned to an instrument by the system. Instrument ID numbers are randomly assigned by the system and, therefore, are not necessarily assigned sequentially.
A consolidated transaction view that displays the parent instrument activity and subsequent transactions for every instrument processed in the Trade Services system. You view instrument history in the Instruments area of the system.
A reference
data item that is a partially completed transaction form, used
as the basis for new transactions of the same type. You work with instrument
templates in the Reference Data area of the system.
For example, you might enter the static information onto an Issue Import
Letter of Credit template, such as documents required, incoterms and Parties.
You would then reference the template when creating a new Issue Import
Letter of Credit transaction, entering only the variables, such as shipment
and expiry dates, amounts, and goods description.
A payment instrument facilitating the movement of money across international borders and often in a currency that is a foreign currency for either the debit party or the credit party or both parties.
The original transaction for an instrument.
The written obligation of a bank made at the request of its customer (buyer), to honor a seller's draft or other demands for payment upon compliance with conditions specified in the Letter of Credit. In the Trade Services system, you can work with Import Letters of Credit, Standby Letters of Credit, and Export Letters of Credit.
A reference data item that controls how Letters of Credit are generated from a Purchase Order. You work with LC creation rules in the Reference Data area of the system.
Pages in the Trade Services system that display summary information about data records in each functional area. Listing Pages contain rows of data organised into columns. You can sort the rows of data by clicking on one of the column headings. From most listing pages, you can select an item to obtain more detailed information about it, modify it, or delete it. Examples of listing pages include Pending Transactions, Authorised Transactions, and the Reference Data area.
An arrangement (which can be initiated in the system) in which a lender gives money to a borrower, and the borrower agrees to repay the money, usually along with some interest, at some future point in time. For more information see the Issue Loan Request transaction page.
Items in the Messages area received from your bank that require action from your organisation. Mail also includes the responses that you send to your bank in response to mail messages received.
The area of the Trade Services system in which you communicate with your bank about your trade transactions being processed. The Messages area includes a Mail tab and a Notifications tab.
The area of the page that displays informational, warning, and error messages about the status or outcome of system processing you have initiated. The messages and warnings area is at the top of the page, above the main content area of the page.
A message from your bank reporting the status of a trade transaction is has processed for your organisation. Notifications are for information purposes only and do not require action from anyone in your organisation. You view notifications in the Notifications page in the Messages area of the system.
Elements in the reporting universe that map to data in the Trade Services database. These objects allow you to retrieve data for reports. Examples of objects in the Trade Services reporting universe include Instrument ID, Instrument Type, Instrument Amount, Instrument Currency. You select objects for a report in the web panel, part of the WebIntelligence third-party reporting tool integrated into the Trade Services system. The web panel displays with the New/Edit Report, Step 1 page.
A bank that provides services to a corporate customer.
A bank involved with an instrument that is located in a foreign country.
The Panel Authorisation Group page is where users with appropriate security rights can view, enter, or modify Panel Authorisation Group information. This page appears in read-only mode if you have view only security rights to Panel Authorisation Groups or if the Panel authorisation Group is in use by another user.
A reference
data item containing information about the counter-Parties
that your organisation deals with. After a Party is entered into the system,
the Party and its details can be referenced on any transaction created
in the system. You work with Parties in the Reference Data area of the
system.
For example, a party could be a supplier, if you are an importer, or your
buyers, if you are an exporter. Banks involved in your transactions can
also be entered into the system as parties so they can be referenced on
transactions.
The text you enter when you log into the Trade Services system, if your organisation uses password for system security. Password users are initially given a password and are required to change it when logging in for the first time. You can also change your own password at any time through the Home page.
Types of transactions/instruments that facilitate the movement of money from one bank account to another, from one institution to another.
A consolidated transaction view that displays the primary transaction for a Cash Management instrument and subsequent transactions for every Cash Management instrument processed in the Portal system. You view Cash Management instrument/transaction history in the Cash Management Transaction area of the system.
A transaction that has not yet been processed by the bank. You work with pending transactions in the Instruments area of the system.
A reference data item containing a text statement for reference on transactions. You work with phrases in the Reference Data area of the system.
A page that walks you through a step in the process of creating an item in the system. Procedural pages usually ask questions that you answer using the fields and controls on the page. The New Transaction and New Template pages are examples of procedural pages.
A document that manages corporate buying. You can upload Purchase Order data into the Trade Services system and generate Letters of Credit for Purchase Order line items. You work with Purchase Orders in the Instruments area of the system.
A data file containing detailed purchase order information, which can be uploaded to the Trade Services system. You can then create Import Letters of Credit from the uploaded purchase order data, based on LC creation rules and PO definitions maintained in the Reference Data area of the system.
Part of the PO definition that defines the format of the data file (delimited or fixed length), as well as the specific data fields for which data is included in the data file and the order in which each appears in the file.
A single line item referenced in a purchase order to procure goods. Purchase order line items are detailed in purchase order data files that can be uploaded to the Trade Services system.
A reference data item that defines settings for how purchase orders are manually entered or uploaded to the system, such as the data, PO details, and goods description layout. After a purchase order is manually entered or uploaded to the system, Letters of Credit can be created for them, or you can manually add purchase order line item information into letter of credit transactions.
A log that provides the date and time that a purchase order data file was last uploaded into the system or that Import Letters of Credit were created from purchase order data. The log also provides a listing of any errors that occurred during the upload or Letter of Credit creation process and provides the instrument ID to which each purchase order line item was mapped.
A set of statements used to retrieve information from data storage for a report. You build a query by defining objects, conditions, and settings in the web panel.
A view of an item in the Trade Services system in which you can only view the item's details, but cannot edit or take action on the item. Pages display in read-only mode in the system when the item displayed in the page has a certain status and/or when you do not have appropriate security rights to edit the item in the page. Otherwise, the page displays in edit mode.
Receivables Management refers to a bank service offering where the bank provides tools to enable the customer (seller) to more efficiently perform A/R reconciliation and receivables financing. The A/R items are the customer’s accounts receivables.
Receivables Matching Rule is defined for each Trading Pair (Buyer). It contains some key information that is used to facilitate matching payment/remittance messages to invoices including Buyer Name Aliases, Buyer ID Aliases and default tolerances.
Instruments that are used for tracking Receivables and Payables (in a future release) are categorized as Receivables/Payables.
The recent transaction screen displays the results of a transaction inquiry request to the bank’s central banking system. The last fifty transactions of the day for the selected account are displayed providing keys details about each transaction, namely the Account Transaction Id, a Description of the Transaction, the Transaction Amount, the Running Balance and the Transaction Posting date.
Data items in the Trade Services system that are either required by the system or are used to create transactions. Examples of reference data include parties, phrases, instrument templates, security profiles, foreign exchange rates, LC creation rules, and PO definitions.
Selections you make when you generate a report to filter report results. Examples of report criteria include date ranges and instrument types.
Selections you make when you generate a report to filter report results. Examples of report criteria include date ranges and instrument types.
Listings you can generate for viewing or printing that report on data stored in the Trade Services system. You work with reports in the Reports area of the system.
An import documentary letter of credit instrument issued in the trade portal by a bank (or corporate) customer that requests the Proponix bank, upon receipt, to advise the letter of credit on its behalf instead of issuing it themselves.
An action in the Trade Services system that places the item -- either a mail message or a transaction -- in another user's Messages or Instruments summary section in his or her Home page.
Society for Worldwide Interbank Financial Telecommunications. This is the organisation that provides electronic funds transfer for participating banks in Europe and North America.
A group of security rights that can be assigned to a user profile. Security profiles are defined and assigned to users in the Reference Data Area of the system.
The specific privileges in the security profile assigned to you. Security rights determine the data items you can view and work with in the different areas of the Trade Services system. The security profile assigned to you depends on your role within your organisation.
An instrument issued by a bank to support the release of goods when the original shipping documents are not available.
A report that you create in the Reports area of the system that is available to all other users in your organisation, as well as in any subsidiaries or branches. You create, edit, and generate standard reports in the Standard Reports tab of the Reports area. Contrast standard reports with custom reports.
An instrument
(not intended to be the vehicle of payment for the trade transaction)
issued by a bank that supports trading activities by corporate customers.
A Standby Letter of Credit can be either Outgoing (initiated by your organisation
and sent to your bank for processing) or Incoming (initiated by another
organisation and sent to you by your bank).
The Trade Services system supports both a simple Standby Letter of Credit
form and a detailed Standby Letter of Credit form. Your corporate customer
profile, set up by your bank, determines whether your organisation uses
the standard form, detailed form, or both.
The state of a transaction that indicates where it is in the workflow. Examples of transaction statuses include Started, Ready to Authorise, Partially Authorised, Authorised, Returned by Bank, and Processed by Bank.
Considered the child organisation in a parent/child corporate hierarchy.
The ability of a user to login and be authenticated by the Trade Services system portal only once for the corporate organisation to which they are assigned, but also, in the same login session, to be able to access information and/or perform actions on behalf of their organisations subsidiaries.
A group of security rights that can be assigned to a user profile when the user performs activities in behalf of a subsidiary corporate organisation using the subsidiary access feature. The security profiles are defined and assigned to users in the Reference Data Area of the system.
If applicable, the other organisations that make up a Corporate Customer organisation's hierarchy. See also subsidiary.
See Instrument Template.
The terms at which the purchaser will pay the seller for the goods. Tenor examples include Sight (immediate payment), and 90 days from bill of lading date.
Details for the current terms for an original transaction, in addition to any amendments, as processed by your bank. You view terms details for a transaction in the Instruments area.
A reference data item that defines the threshold limits defined for transaction authorisation purposes. A user can only authorise up to the per transaction limit and daily limit defined for each instrument and transaction type in the threshold group to which he or she is assigned. You work with threshold groups and assign them to users in the Reference Data Area of the system.
A term used to describe how you are automatically logged out of the system when there is no activity in your login session for an extended amount of time. The number of minutes before login sessions time out for users in your organisation is determined by the system administrator.
A transaction for an Export Collection instrument that traces payment for the instrument.
A trade-related instruction from you to your bank, processed through the Trade Services system. For example, a request to issue or amend a Letter of Credit. You work with transactions in the Instruments area of the system.
A payment instrument allowing money to be transferred from one of a corporation’s bank accounts to another bank account belonging to the same corporation – both accounts being held at the same banking institution.
A trade instrument enabling finance to be provided until payment for goods is received. The transaction types that apply to trade loans are Issue and Settlement Instructions.
A collection of classes and objects that can be added to a report that you create. The reporting universe maps everyday business terms that describe your business environment to the data in the Trade Services database. You use the universe to build queries of your trade data. You select universe objects to include in a report from web panel.
An action that copies a data file from a local computer drive or folder to the Trade Services system. If your organisation processes purchase orders in the system, you can upload purchase order data files in order to create letters of credit from purchase order line items or manually add purchase order line items into letter of credit transactions. You can upload invoices too.
Uniform Resource Locator. An Internet address that you type into your web browser's Address or Location field to display a web site. For example, www.yourbank.com.
A person who is able to log into and use features of the Trade Services system. Each user has a user profile.
A reference data item that exists for each authorised user of the Trade Services system. The user profile contains information about the user, such as his or her contact information, as well as security settings for the user. You work with user profiles in the Reference Data area of the system. You can view a read-only version of your user profile by pressing View My User Profile on the Home page.
The verification process validates that transaction data entered meets the business rules established within the Trade Services system. A transaction must be successfully verified before it can be authorised.
An Internet address that you type into your web browser's Address or Location field to display a web site. For example, www.yourbank.com.
Software you use to find and view information (or "web sites") on the Internet.
The third-party reporting tool used in the Trade Services system. The WebIntelligence applet displays the web panel in the New/Edit Report, Step 1 page in the Reports area.
The panel in the Reports area in which you create or edit the design for a report. In the web panel, you define the query for the report by selecting objects from the reporting universe, specify conditions, and define settings. The web panel displays in the New Report/Edit Report, Step 1 page.
A reference data item that defines the work groups that Corporate Customers can assign users to for transaction authorisation purposes. Work groups control a user’s ability to authorise transactions based on a Corporate Customer’s authorisation settings.