- HOME > Services > uTrade > e-NEGO Service
- Introduction
- The e-Nego System provides a one-stop service through digitally handling negotiation documents. It is designed to increase export competitiveness by enabling exporters to seamlessly conduct negotiation operations on the uTradeHub without having to actually visit offline institutions and banks.
- Work Process of e-Negotiation
- Main Functions
| Category | Description | |
|---|---|---|
| Request for Export Bill of Exchange Negotiation | e-L/C |
- Negotiation of an e-L/C received on the uTradeHub - Management of e-L/C balance |
| D/A, D/P | - Contracts to be managed by negotiating banks | |
| O/A |
- Contracts to be managed by negotiating banks - Notice and Acceptance of export bill of exchange transfer - Request for the negotiation of export bonds |
|
| Rejection of Negotiation | - Rejection of negotiation request by negotiating bank. | |
| Request for Negotiation Cancellation | - Request for the cancellation of negotiation request by exporter | |
| Notice of Negotiation Cancellation | - Notification of negotiation cancellation history by negotiating bank | |
- Expected Benefits
- - For Exporters
-
> Reduction in time and cost by streamlining the shipping document receipt and negotiation process
> Lower rate of failed negotiation on the shipping date.
> Decreased delay charges
> Reduced risk of loss of important documents such as B/L and I/P - - For Negotiating Banks
- > Reduction in the period of document delivery and receipt between the headquarters and branches
-
>> Shortened time of payment collection
>> No need for local centers (more efficient human resources management) - - Improvement in customer services
-
> No need for face-to-face meetings
> Decreased delay charges -
- Reduced risk of document falsification and alteration.
- Easier storage of negotiation documents and more convenient search for information
- Time saving by avoiding document scanning.
- Shortened time of system operation. - > Use of negotiation request data
