SUMIT CHATURVEDI

Trade Finance: Handling All the Bank work related to Letter of Credit, Guarantees & TR.
Export:
Vetting & Confirming the Export LC viz a vis Contract.
Submission of Export Documents Under Collection / Export LC post checking.
Maintaining records for Export Transaction (Under LC or Collection)
Follow up on Export Receivable and mainting record for Export LC Utilization.
Applying for Guarantees for Bidding in tenders.
Monthly Insurance Declaration.
Handled Export Documentation under LC or Collection.

Import:
LC Application, Amendment, Follow up with banks on issuing of Import LC.
Checking of LC issuance charges.
Releasing of Documents under Import LC and processing for payment.
Maintaining record for Import Transaction.
Processing Online payments.
Liasioning with bank for any issues.

Accounting & Reporting:
Maintaining OD and Trade Facility Limit utilisation report
Recording day to day Trade transaction in ERP.
Preparing Monthly Receivable.
Maintaining monthly payables report for payment under LC & Trust receipt
Prepaing Monthly Trade & Receivable Summary Originwise and productwise
Receivable & Payable reconciliation and Collection Follow up.
Contract management
Checking of Debit Notes/ Claims & other Trade related Invoices.
Sale Purchase Reconcilaition with 4 origins for MIS.
Calculating of Monthy Direct Expense, Provision Amount & Passing Provision Entries.

Other Work handled at Vink Corporation:
Logistic Cordinator for shipment of Plant & Machinery for new SOYA plant in Nigeria
Cordination with origins for data collection for Group Global Insurance.
Part of SAP implementation team for SD, MM, FI & Treasury Module.
Handled Documentation process for Corporate Account opening with Foreign banks & Financial Institutions.

Finance& Accounts
• Preparing all relevant documents for L/C & TR application.
• Follow up with banks to ensure timely issuance of Letter of Credit & Trust Receipts.
• Co-ordinating with banks for amendments to L/C’s, and cancellations.
• Liaise with the banks for confirmation of Inward/ Outward remittance
• Liaise with the Clearing agent for vessel arrival & submitting the Documents for Clearing the Shipments in a timely manner.
• Maintaining records of each shipment received with details of all freight/custom/clearing charges incurred for accounting purpose.
• Maintaining monthly payables report for timely payments under Letter of Credit & Trust receipt.
• Accounting for local & Import payables
• Accounting for Expenses related to import. (Duty Payment, Custom Clearance Charges, Freight Forwarding Charges & Transportation Charges).
• Coordinating with insurance agents for matters related to stock/peripherals damage at store/warehouse level. Preparing stock reports of damages & submitting relevant documents for insurance claim.



Receivable Management
• Customer account creation post document check and reference check.
Approving of Sales order requisition form post SOA check.
Checking of customer SOA for overdue or overdrawn Amount prior to approval of Sales order.
Monitoring customer account for non- payment, delayed payment and any irregularities and do the follow up with sales staff for regularizing.
Preparing Credit notes as per the statement and applying the same.
Ensure that receipt allocation, PDC realisation, customer reconciliation, balance confirmation, etc. are done as per the relevant procedures.
Liaise with sales staff for monitoring and controlling the overdue and debtors ageing and ensuring that it is within the tolerance limits.
Ensure that full cash/cheque collection is deposited in the designated bank accounts in the next working day.

Finance:
• Preparing the application for letter of Credit as per terms of contract.
• Following with the bank for timely issuance of the L/C to avoiod delay in shipment.
• Check with the supplier for any amendment requirement and get the amendment done as per the supplier requirements.
• Checking / confirming the shipping and other copy documents as per terms & conditions of Letter of Credit and contract.
• Negotiating/ discounting the documents with Banks / Financial Institutions.
• Arranging for Rollover of Import L/C.
• Arranging of Buyers credit quote from Foreign Banks/Indian Banks/Agents for DP Documents.
• Maintaining Monthly MIS for due date for timely Payment or Rollover of L/C and Buyers Credit to avoid any Interest charges.
• Maintaining MIS for Pre-Shipment & Post shipment Finance.


Commercial - Imports:
• Highlighting the Terms & Conditions of the Contracts with the Foreign Suppliers for finalisation by the senior management.
• Following with overseas supplier for vessel booking and timely shipment of raw material.
• Co-ordinating with CHA for custom clearance and other custom formalities.
• Managing the logistic for timely delivery of raw material at Plant.
• Preparing monthly content wise MIS report.
• Preparing reports required as per the audit requirement.