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Tracking Letters of Credit that Auto-Renew

Question: 
What are some best practices for tracking auto-renewal letters of credit?
Answer: 

Failing to closely track auto-renewal letters of credit can cause a bank to be committed for additional terms. Automated exception management and reporting systems exist to help banks track letters of credit in advance of renewal dates so there are fewer surprises.

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Learn more about letters of credit.

Vendor: 
AccuSystems

AccuSystems develops document management and exception tracking software for financial institutions. Trusted by more than 15,000 bankers worldwide, AccuAccount automates exception tracking, streamlines audits, and simplifies loan imaging. Request a demo, register for a webinar, or download a free whitepaper.

First published on 03/14/2021

Filed under: 
Lending
Filed under lending as: 
Letter of Credit
Renewal

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