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Hi Experts,

 

In case of LC used as method for payment, how to set payment terms and its installment in IFS. Payment is normally made after Shipment and its documents submitted to the bank.

 

How do you guys cater Letter of Credit into IFS Application?

Can anyone comment?

Hi Mirali, 

According to my knowledge, there is no standard functionality for directly using LCs in IFS. Even though you can handle the instalments with Payment terms, yes there will be challenges with documentation and other specific information regarding the LCS. 

Due to this reason, many IFS customers have made modifications in this area with the help of IFS Consulting for a better solution forLCs.

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