Internet Trade Services (ITS) – foreign trade online

As demand grows in foreign trade, so does the importance of tools that permit effective management of foreign transactions. This is why we created the HSBCnet system’s ITS module, which allows our customers to initiate trade services transactions and monitor the status of settlements related to letters of credit and collection. By using ITS, you can apply for a letter of credit, modify its terms, transfer it or receive an electronic version of it. You can also provide instructions regarding payables and check your trading accounts: all that online, from any location, at any time.

ITS system functionality:

• Account information. Makes it possible to manage client/beneficiary data in preparing applications for letters of credit. You can view, edit, remove, add, save and delete client and beneficiary details.
• Authorisation. Makes it possible to approve transactions that exceed limits set for the user initiating the transaction.
• Predefined clauses. This tool makes it possible to create, view and save lists of predefined clauses that can then be used in applications for letters of credit.
• Amending letters of credit. You can apply for amendments to letters of credit opened by the Bank. If you have sufficient authorisation to carry out such a transaction, amendments to the letter of credit will be sent directly to the Bank for implementation.
• Preparing applications for letters of credit is now easier thanks to predefined clauses. Using previous letters of credit you can create new applications or amend existing ones.
• Transfer of letters of credit makes it possible to submit an application for the transfer of payments on a letter of credit to another beneficiary.
• Credit lines. You can check the current use and availability of credit lines used in servicing trade.
• Lists of import documents make it possible to view elements of documents awaiting further instructions.
• Possibility of searching available information.
• Settlement instructions enable various methods of settling transactions to be selected.
• Templates. You can create a new template and later save time by using it in creating new applications for letters of credit.