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<br />INFORMATION REPORTING <br /> <br />We will make available to you, subject to the terms of the Information Reporting section of <br />this Booklet, reports on import, export and standby letter of credit transactions, banker's <br />acceptances, collections and open account transactions, as more fully described in the <br />applicable User Documentation. <br /> <br />OPEN ACCOUNT <br /> <br />Our Electronic Trade Open Account Service permits you electronically to (i) inform us of your <br />purchase order details, instl1lct us on examining import documents for compliance with your <br />purchase orders and instruct us to pay the presenting party and (ii) receive notification of <br />open account transactions initiated through electronic means. <br /> <br />Purchase Orders. You will electronically transmit to us, in accordance with applicable User <br />Documentation, files of purchase orders you have sent to your vendors with instl1lctions to <br />present documents to us. The electronic files will be in such format(s) and transmitted <br />through such channel(s) as you have selected and we have approved. If you are not <br />requesting us to issue an impOlt letter of credit, each transaction will be flagged as an "open <br />account" payment type. <br /> <br />When we receive import documents, we will review them according to your purchase order <br />terms. If and as provided by the open account payment type selected by you, we will match <br />the import documents against the pertinent purchase orders housed on our electronic <br />database in accordance with the parameters established by you and accepted by us. We will <br />pay the presenting vendors as provided under the open account payment type selected by you <br />from the following three types: <br /> <br />· importer matching - you match the import documents against your copy of the <br />pertinent purchase order and instl1lct us how much to pay to the presenter and when <br />to pay; <br /> <br />· bank matching. we match the import documents against our electronic file of the <br />pertinent purchase order, following the parameters established by you; we then <br />electronically inform you, indicating whether they are compliant 01' non-compliant, and <br />await your payment instructions; and <br /> <br />· auto-pay - we match the documents as described above, and, if we determine they are <br />compliant, make payment to the presenter, but only if you have sufficient Collected <br />and Available Funds in the account you have designated for such purposes; if we <br />determine that the documents are non-compliant, we make payment only upon your <br />express instructions. <br /> <br />AD-AG-0455B (2004-2) 47 <br />