Text Box:  
Z

 

Text Box: Zinum

  
 

home

benefits

services

process

pricing

FAQ

contact

 

 

process

The Zinum process is designed to make it easy for all parties to the transaction: the L/C beneficiary, the freight forwarder arranging the shipment, and the banker examining documents.  Roles and responsibilities are clearly defined.

 

How does it work?

After the initial setup, the exporter emails the following to Zinum:

  • Copy of electronically advised L/C

  • Scanned copy of invoice (or it can be faxed)

  • Name of freight forwarder handling the shipment

  • Other pertinent information/requirements for specific L/C presentation.

Zinum will contact the freight forwarder for a copy of the transport document (can be  emailed or faxed by the forwarder to Zinum).

Zinum will submit documents to the advising bank either by courier (at exporter’s expense) or electronically by email.

Zinum will email copies of documents to the exporter. Zinum can also email a copy of the documents to the exporter’s customer if instructed.

Note: Shipper/Beneficiary is responsible for courier charges associated with Zinum obtaining “original” documents required for submission under the L/C (e.g. original ocean bills of lading, insurance certificates, certificates of origin required in original for submission).

Roles and Responsibilities

By using Zinum, everyone benefits.  Paperwork is reduced and the process is made more efficient.  Everyone has a defined role.

The beneficiary must do the following:

  • Download the electronic L/C from the advising bank’s website

  • Email the L/C to Zinum in Word (or any other word processing format)

  • Advise their freight forwarder that Zinum will be generating all documents required under the L/C including drafts, invoices, packing lists, Air Waybills, etc.

  • Instruct the freight forwarder to email or fax the completed transport document to Zinum immediately after shipment.

  • Email (or fax) to Zinum copies of the internal invoice that generates after shipment leaves their facility.

The freight forwarder must do the following:

  • Email or fax copies of transport documents to Zinum at the time they are prepared or advise Zinum if shipment is being delayed.

Zinum must to the following:

  • Email the freight forwarder a reminder that shipment is scheduled to depart.

  • Receive & review the transport document when emailed/faxed by the forwarder

  • Generate all documents required by the L/C

  • Email submit originals and copies to the U.S. negotiating bank

  • Email copies to the beneficiary

The negotiating bank must do the following:

  • Print original documents at their facility

  • Examine documents for accuracy and completeness

  • Advise Zinum of document status by email/phone

  • Send documents to issuing bank via courier

 

Some of the actions required by the beneficiary in the above list may only need to be done at the initial establishment of the relationship.