Select elcyMBP tab then Import Workbench, Create Standby LC. A Standby LC is created only in Swift format, either from a blank screen or from an existing template.

It is also possible to copy an existing LC – this can be done from the Import Transaction List

 1. Create a new Standby LC from blank

Select the type of Standby LC.  Corporate Reference must be unique.  Choose Committed or Uncommitted.

If the Standby LC has an auto renewal clause, tick the box by Auto-Renew which brings up the Notice Period and Renewal Period drop downs for selecting the appropriate numbers of day notice, and length of renewal in months.

In the next section, select or complete the details of the applicant, issuing bank, beneficiary and any limit or advising bank.  Depending on your permissions, you may be able to add new ones if required, or only select from those that already exist.  If you cannot add, and the one you require is not there, please speak to your local administrator.

For certain clients, use of Limits is mandatory, therefore you must select a limit and possibly a sublimit before you can save the Standby LC.

Complete at least the mandatory fields, plus the others you require.

Enter the documents required for payment, either by typing or pasting into the Presentation Instructions box and also by ticking the boxes next to the documents.

Enter the details of any additional conditions into the Undertaking Terms and Conditions box and Special Agreements with Issuing Bank. 

Enter charges details you require, and whether confirmation is required or permitted.  Choose the applicable rules and type in any instructions to the bank.

Client Transaction Properties (CTP) may be available.  If these are compulsory then they must be completed before the Standby LC can be saved.  If you have any queries on how to complete these, please speak to your local Administrator for advice.

Documents in PDF or txt format can be attached, then choose Create LC if you have entered all the information, or Create Draft if you know some information is missing.

Drafts can be found later on the Import Workbench in the LC Drafts List.  Created ones are in the Import Transaction List in the In Progress status waiting for the necessary update. 

After completing all the relevant data for the Standby LC and clicking on the Create LC button, you will then be presented with the screen to check final data and Submit the LC to the Transaction List. 

Once you have submitted the Standby LC it will appear on your Import Transaction List (elcyMBP, Import Workbench, Import Transaction List) with status of In Progress - at this stage you can still update or delete the transaction and the bank cannot view it.  

To add any documents to this transaction, click on “View repository”.  Documents in the repository are not accessible by the bank – anything you want the bank to receive must be attached in the application itself.

When the Standby LC is ready, it must be sent to the bank.

2. Create a new Standby LC from a template

Next to SWIFT LC, click on the down arrow to display the list of possible templates.  Find the correct one, then click Next.  A draft transaction will appear with details completed per the template.  All fields can be amended as needed then the transaction saved and approved as per any other Standby LC.

Due to the change in Swift format for Standby LCs from 22nd November 2021, all templates created before that may need to be updated to add extra data. This can be done by choosing the template from  elcyMBP, Transaction Template, Transaction Template List.

After adding in any additional information which will be required every time on to the template, click on Update Template at the bottom.

3. Create a new Standby LC from an existing Standby LC

On the Import Transaction List, find the transaction you wish to Copy, click in the radio button on the left-hand side and then on the word Copy at the top.

Select that you want to create another LC transaction, enter your unique Corporate Reference for the new transaction and click Next.

A copy transaction is added to the Import Transaction List in the In Progress status.  Click on the System Reference of the new transaction to go into it.

Click on Update to be able to amend the details to exactly what you want for the new transaction – you will at least need to update the expiry date to the new date you require.  When everything is correct, click the Update LC at the bottom and continue to process the transaction as normal.