For an exporting or importing unit, the term ‘Forward Contract’ is common, and they do not like the burden of exchange variance since they are specialized in their respective fields.
The day to day variance in the currency values leads to exchange variance, especially in case of long credit periods.
This burden is usually shed off by the importers/exporters by making forward contracts with the banks which helps them get an agreed rate irrespective of the market rate.
With this solution you can create contracts of different values with different banks and these contracts are then utilized for different import/export transactions. The solution maintains the details like validity date for each contract and also creates a detailed report which helps the user to track them.
The following documents are printed from the system :
- Booking Of Forward Contract
- Export cover Letter
- Purchase Of Document
- EEFC Conversion Letter
- Payment against Import Bill Settlement
- Inward Remmitance Advance Document