LogTech International Trade Finance Platform — UK Trade Bank

SWIFT API Integration and MT Message Automation

SWIFT (Society for Worldwide Interbank Financial Telecommunication): global messaging standard for international payments and trade finance.

SWIFT API integration

• 1SWIFT MT 700 (Issue of a Documentary Credit — Letter of Credit issuance message),
• 2SWIFT MT 701 (Amendment to a Documentary Credit),
• 3SWIFT MT 742 (Reimbursement Claim under a Documentary Credit),
• 4SWIFT MT 750 (Advice of Discrepancy — document review result),
• 5SWIFT MT 752 (Authorisation to Pay/Accept/Negotiate). SWIFT Alliance Cloud (SaaS SWIFT connectivity — no on-premises SWIFT infrastructure): ClickMasters integrates via SWIFT Alliance Cloud REST API.

MT message generation

platform data → MT700 structured message → SWIFT transmission → correspondent bank.

MT message parsing

incoming SWIFT messages → structured platform records.

UCP 600 Letter of Credit Workflow

UCP 600 (ICC Uniform Customs and Practice for Documentary Credits): international standard governing letters of credit.

LC lifecycle

• 1LC application (importer applies — beneficiary details, amount, expiry, documents required),
• 2LC issuance (bank issues LC → SWIFT MT 700 to correspondent bank → beneficiary bank confirms),
• 3document presentation (exporter presents shipping documents — bill of lading, commercial invoice, certificate of origin, packing list),
• 4document examination (bank examines documents against LC terms — UCP 600 5-day rule: bank has 5 banking days to examine and advise),
• 5payment (documents compliant → payment to exporter — SWIFT MT 742),
• 6document discrepancy (non-compliant documents → discrepancy notice — MT 750 to beneficiary bank, importer waiver option).

Automated UCP 600 checklist

• each LC term checked programmatically against presented documents.
• Trade-Based Money Laundering (TBML)

Compliance

Trade-Based Money Laundering (TBML): FATF (Financial Action Task Force) identifies trade finance as high risk for money laundering — goods prices manipulated (over/under-invoicing) to move value across borders.

TBML controls

• 1price verification (World Customs Organisation Trade Data — commodity price benchmarks, alert if invoice price > 20% deviation from benchmark),
• 2dual-use goods check (UK Export Control Joint Unit — ECJU — strategic goods export licence requirement check by HS code),
• 3sanctioned country check (HMRC CDS imports/exports — denied party screening against OFSI sanctions list for all counterparties),
• 4shell company detection (Companies House + commercial data — alert if beneficiary has < 2 years trading history or unusual corporate structure),
• 5document authenticity (document metadata analysis — PDF creation date, font consistency — basic fraud indicators).

Guarantee and Standby LC Digital Workflow

• Bank guarantees (performance bonds, bid bonds, advance payment guarantees) and Standby Letters of Credit (SBLC — guarantee of payment as last resort): (1) guarantee application (principal applies — beneficiary, amount, expiry, conditions for demand), (2) guarantee issuance (bank issues — counter-guarantee from principal's facilities), (3) demand under guarantee (beneficiary claims — demand notice reviewed against guarantee terms), (4) payment (demand compliant → bank pays beneficiary → recovers from principal).
• URDG 758 (ICC Uniform Rules for Demand Guarantees): international standard for demand guarantees — ClickMasters implements URDG 758 compliance checklist same as UCP 600 for guarantees.

Expiry management

guarantee expiry calendar — 90/60/30 day alerts to relationship manager, automatic extension workflow if renewal requested.