The most common LC discrepancies, and how to avoid them
Many first presentations are found discrepant. These are the mistakes that come up again and again, with the UCP 600 rule behind each.
Read · 8 minFor banks
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1Choose your roleJoin as a financier, or bring exporter clients onto the platform.
2Set controlsConfigure roles, two-factor sign-in, appetite rules and limits.
3Work the pipelineBid on fitting LCs, or support clients as they list and present.
4Audit at any timeVerify the hash-chained trail for any deal, whenever you need to.
Audit trail · Chain intact
Marked matured
00:42 GMT+5:30
00d5613836…00:42 GMT+5:30
Marked funded
00:42 GMT+5:30
96447b0534…00:42 GMT+5:30
Accepted bid 7.250%
00:40 GMT+5:30
21668bf796…00:40 GMT+5:30
Placed bid 7.25%
00:38 GMT+5:30
bf2fa978bf…00:38 GMT+5:30
✓ No entry has been changed
Questions
What banks usually ask
How do appetite rules work?
You set what you want to fund: issuing bank tier, countries, currency, amount range, longest usance and minimum pre-check score. Every LC in your feed is then marked Fits or Outside rules, with the reason.
What happens if a bid breaks my limit?
Limits are set per issuing bank and currency by a checker or admin. If a bid, or the exporter's acceptance of it, would take you over the limit, the platform refuses it.
Can other financiers see my bid?
No. Bids are sealed. Each financier sees only its own bid. The exporter sees all bids on their LC.
How is my account protected?
Strong passwords are required, and two-factor sign-in with an authenticator app is compulsory for financiers and platform staff. You also get an email if your password, sign-in email or two-factor method changes.
Can records be changed after the fact?
Every action is written to an audit log where each entry is chained to the previous one with a SHA-256 hash. If any entry were altered, verification shows exactly where the chain breaks.
Where is data stored, and how is it protected?
GIX Credit runs on enterprise cloud infrastructure that is independently audited to SOC 2 Type II. Data, documents and sign-in records are held in secure, access-controlled data centres, encrypted in transit and at rest, and backed up every night in encrypted form. On top of that, our own controls apply: two-factor sign-in, role checks on every request, four-eye approval and a tamper-evident audit trail.
Insights
Guides for banks
Why sealed bids get exporters fairer prices
When several financiers price the same LC without seeing each other's offers, the exporter sees the real market rate.
Read · 4 minGIX Credit is live at gixcredit.com
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