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Online Trade Finance Portal for Forex & Inland Trade and Fx Remittances
BarodaINSTA SmartTrade – a one point solution with advanced capabilities for our Trade finance customers facilitating all Foreign & Inland trade transactions and Fx Remittances for individuals, enabling them online access for initiating transaction requests and ensures better governance with enhanced security and controls. It is a user friendly application with attractive and convenient dashboards, providing real-time updates of transactions with additional features like customized MIS/reports, notifications & alerts, due date maintenance, etc.
- User friendly dashboards
- Live tracking of transaction status.
- Facilitates paperless transactions, reduces TAT.*
- Online availability of various MIS data, Debit advices and swift copy.
- Standard and customized templates maintenance. Customer specific templates and data like beneficiary details, other Bank details, specific clauses, etc. can be maintained for use in transaction processing.
- Customer specific Authorization Matrix.
- Enhanced security - 2 factor Login mechanism (Password with OTP through SMS and Email).
* This is subject to exceptions. Please contact your Branch or Relationship Manager for details of paperless transactions.
The following Trade Finance product types can be initiated/viewed by Customer online:
- Import Letter of Credit
- Import Documentary Collection
- Export Letter of Credit
- Export Documentary Collection
- Packing Credits in INR and Foreign Currency
- Export Bill Financing
- Outward Remittances
- Inward Remittances
- Foreign Bank Guarantees
- Issued and Received Stand-by Letters of Credit
- Shipping Guarantees
- Fx Remittances for individuals
Customer wishing to avail the services of BarodaINSTA SmartTrade are required to submit following documents duly filled and signed by Authorised signatory to their respective Branch:-
- Application form Application should be verified and counter-signed by the Branch Manager.
- Legal Agreement (Not Applicable for Individuals*) (click here) – Agreement should be executed with the concerned Branch and should be stamped as per the respective State stamp duty. It should be signed and stamped on all pages by the Authorised signatory of customer as well as by Bank Branch.
- Board Resolution (click here) – wherever applicable.
For Detailed Terms and Conditions Please Click here
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Mcevilly- Liposky street no. 40, 55778 Tórshavn, Faroe Islands
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