CROSS REFERENCE TO RELATED APPLICATION

The present application claims the benefit of US Patent Application No. 63313298 filed February 24, 2022, entitled “System for Creating Business Rules in Trade Finance Operations” the contents of which is hereby incorporated by reference.

BACKGROUND OF THE INVENTION

A. Technical field

[0001] The present invention generally relates to trade financing services. More specifically, the present invention relates to a system for creating various business rules in trade finance operations and plugging them into any business process to drive decisions.

B. Description of related art

[0002] Trade finance represents the financial instruments and products that are used by companies to facilitate international trade and commerce. Trade finance makes it possible and easier for importers and exporters to transact business through trade. Trade finance covers many financial products that banks and companies utilize to make trade transactions feasible. The major function of trade finance is to remove the payment risk and the supply risk during transactions. Trade finance further helps to reduce the risk associated with global trade by reconciling the divergent needs of an exporter and importer. At the same time, the need to manage and analyze the data from different financial applications has become essential.

[0003] Few existing patent references attempt to address the problems cited in the background as prior art over the presently disclosed subject matter are explained as follows:

[0004] A prior art WO 2000058900 Al to Carmel O'shea, et. al., entitled “Portfolio investment guideline compliance and financial fund administration system” discloses system for portfolio compliance and administration receives data concerning financial instruments that comprise a financial fund from a collection of information sources. Tests are designed and applied to the financial data to confirm that the fund is being managed in accordance with predetermined rules. The user may correct or update the financial data but this history of changes is recorded, allowing a complete audit. The financial data (or any reports based thereon) can be provided to the user in a number of formats, such as on a computer display, in a printout or over a global computer network, such as the worldwide web. The user is notified automatically by urgent means when certain test results are obtained by the system. The fund may be tested for compliance with the fund rules, tax reports may be created and a complete audit trail developed without importing the same data numerous times.

[0005] Another prior art US 11176550 B2 to lustina-Miruna VINTILA, entitled “Electronic document platform” discloses systems, methods, and computer-readable media are provided in relation to electronic document platforms. An example method may include receiving a new electronic letter of credit request, the request identifying letter of credit parameters, and at least one condition of the letter of credit associated with corresponding party profiles; obtaining a public key associated with each of the party profiles; generating a plurality of blocks on a distributed ledger on a node of a distributed plurality of nodes, each of the blocks associated with a corresponding condition of the at least one condition to be effected and encrypted with a public key corresponding to the party profile associated with the condition; and generating signals to initiate propagation of the plurality of blocks to the distributed plurality of nodes.

[0006] Though the existing prior arts use various systems and methods of processing digital financial transactions to limit the financial business losses, they fail to increase the efficiency and accuracy of the financial transactions at a high level. Also, they fail to disclose the creation of various business rules based on domain data models, which could be plugged into any business process to drive decisions. Further, they fail to disclose the severity of the rules as per organizational needs. The existing solution also fails to disclose a highly regulated trade finance function with hundreds of business rules and terms and conditions imposed through the Letter of Credit. [0007] Therefore, there is a need for a digital solution to process trade finance transactions and perform decision-making. Also, there is a need for a system for creating various business rules in trade finance operations and plugging them into any business process to drive decisions. Further, there is a need for a digital platform with rules that can be authored by a functional expert or on-technical/business user and that will be available to all the users subscribed to the platform.

SUMMARY OF THE INVENTION

[0008] The present invention discloses a system for trade finance operations. Also, the present invention discloses a computer-implemented system executed in a network environment for creating various business rules in trade finance operations and plugging them into any business process to drive decisions, thereby improving the effectiveness and efficacy of trade finance operations.

[0009] According to the present invention, the system is configured to perform trade finance operations. The system enables users such as non-technical/business users to create business rules based on domain data models, which could be plugged into any business process to drive decisions. In one embodiment, the system is a digital workbench to process trade finance operations.

[0010] In one embodiment, the system is an application software or mobile application or web-based application or desktop application. In one embodiment, the application is executed in the computer-implemented environment or network environment. In one embodiment, the computer-implemented environment comprises a user device and a trade finance rules management system. The user device is associated with a user. The user may be a non-technical user or business user. The user device is enabled to access the trade finance rules management system via a communication network. In one embodiment, the user device is at least any one of a smartphone, a mobile phone, a laptop, a desktop, a tablet, or other suitable mobile and/or handheld electronic communication devices.

[0011] In one embodiment, the trade finance rules management system is an integral component of the ClearTrade workbench. In one embodiment, the trade finance rules management system is a dynamic rules engine or custom-built rules engine. In one embodiment, the trade finance rules management system supports at least three personas’ including a functional expert or on-technical/business user to manage all types of rules, an author to manage the custom rules, and an approver to manage custom rules along with approving any new rules authored before publishing it. In one embodiment, the trade finance rules management system supports the author and admin persona and workflows for approvals, audit logging, etc. In one embodiment, the trade finance rules management system includes a business rules workbench and a web-based user interface (UI) to author and maintain various business rules.

[0012] In one embodiment, the trade finance rules management system comprises a computing device and one or more databases. In one embodiment, the user device comprises a storage medium in communication with the network. The user device accesses the computing device via the network configured to perform finance operations. In one embodiment, the user device includes an application programming interface (API) associated with the user in communication with the computing device via the network configured to allow the user to create various business rules. In an embodiment, the network may be a Wi-Fi network, a WiMAX network, a local area network (LAN), a wide area network (WAN), and a wireless local area network (WLAN). In one embodiment, the database is in communication with the computing device via the network configured to store a plurality of business rules.

[0013] In one embodiment, the computing device comprises at least one processor and a memory in communication with the processor. The memory stores a set of instructions executable by the processor. In one embodiment, the computing device receives the trade finance business rules created by the user or any of transactional entities via the network configured to enable the users to create business rules based on domain data models that are plugged into any business process to drive decisions. In one embodiment, the computing device is further configured to receive and send facts to the runtime to trigger the rules execution facts and return execution results, thereby plugging the API into the business process for decision-making.

[0014] In one embodiment, the computing device may be a server or cloud server. The server is configured to collect one or more parameters from the user device. In one embodiment, the server may be operated as a single computer. In some embodiments, the computer could be a touchscreen and/or non-touchscreen and adopted to run on any type of OS, such as iOS™, Windows™, Android™, Unix™, Linux™, and/or others. In one embodiment, the plurality of computers is in communication with each other, via the network. Such communication is established via a software application, a mobile app, a browser, an OS, and/or any combination thereof.

[0015] In one embodiment, the trade finance rules management system further comprises a web-based user interface (UI) to author and maintain various business rules for trade finance operations. In one embodiment, the trade finance rules management system supports personas such as author, admin, and approver that are workflows for approvals, audit logging, a functional expert or on-technical/business user, etc. The functional expert or on- technical/business user has the privilege to manage all type of rules i.e., custom, platform. The author will be a person from the respective financial institution who will manage the custom rules. The approver can manage custom rules along with approving any new rules authored before publishing them.

[0016] In one embodiment, the system further comprises an application programming interface (API) layer. In one embodiment, the API is configured to receive and send facts to the runtime to trigger the rules execution facts and return execution results. In one embodiment, the facts are the data extracted from documents converted to an internal data structure. Further, the API can be plugged into any business process for decision-making. The system further comprises a plurality of business parameters related to Trade Finance that are used in multiple permutation combinations to create new rules. The trade finance is a highly regulated function with hundreds of business rules and terms and conditions imposed through a Letter of Credit. In one embodiment, the system interprets these terms and conditions expressed in plain language, for example, English, and translates them to business rules on the fly and validates the terms and conditions against the supporting documents submitted along with the Letter of Credit.

[0017] The system comprises a plurality of pre-configured rules based on Uniform Customs and Practice (UCP) and International Standard Banking Practice (ISBP) Rules. In one embodiment, the system comprises more than 250 pre-configured rules based on Uniform Customs and Practice (UCP) and International Standard Banking Practice (ISBP) Rules that govern international trade. The system further comprises a plurality of operators to validate the business parameters. In one embodiment, the system comprises more than 350 business parameters related to Trade Finance, that can be used in multiple permutation combinations to create new rules. The system further comprises a plurality of operators to validate the business parameters. In one embodiment, the system comprises more than 20 operators to validate the business parameters, some include natural language-based semantic string matching for address comparisons and goods description checks.

[0018] In one embodiment, the trade finance rules management system provides the ability to author rules and define the parameters, triggers, and groups. In one embodiment, the trade finance rules management system further provides the ability to classify the rules as platform rules, custom rules, etc. Each rule is provided with a unique number or rule ID. In one embodiment, the platform rules are authored by a functional expert or on- technical/business user and configured to be available to all the users subscribed to the trade finance rules management system. In one embodiment, the custom rules are authored by a financial institution specific to their custom requirements and configured to be visible only to the respective institution. In one embodiment, the trade finance rules management system further provides the ability to create multi-level sub-rules, manage all the rules, define the relationships between different rules and sub-rules, and execute the rules via Web APIs. In one embodiment, the trade finance rules management system further provides the ability to set severity for the rules as per organizational needs (same rule can be prioritized differently by different organization) and integrate easily with other web applications supporting micro front-end.

[0019] In one embodiment, the system supports UCP 600, ISBP 745 for Letter of Credit, and URC 522 rules for collections are codified for automated scrutiny. In one embodiment, the system further supports custom rules that can be defined per the bank’s needs. In one embodiment, the system further supports baseline checks with Letter of Credit terms and conditions, s. In one embodiment, the system further supports users to add/delete/modify any of the rules per bank or by geography. [0020] Other objects, features and advantages of the present invention will become apparent from the following detailed description. It should be understood, however, that the detailed description and the specific examples, while indicating specific embodiments of the invention, are given by way of illustration only, since various changes and modifications within the spirit and scope of the invention will become apparent to those skilled in the art from this detailed description.

BRIEF DESCRIPTION OF DRAWINGS

[0021] The foregoing summary, as well as the following detailed description of the invention, is better understood when read in conjunction with the appended drawings. For the purpose of illustrating the invention, exemplary constructions of the invention are shown in the drawings. However, the invention is not limited to the specific methods and structures disclosed herein. The description of a method step or a structure referenced by a numeral in a drawing is applicable to the description of that method step or structure shown by that same numeral in any subsequent drawing herein.

[0022] FIG. 1 shows a block diagram of a system executed in a computer-implemented environment in an embodiment of the present invention.

[0023] FIG. 2 shows a screenshot of a list of rules in a dynamic rules engine in one embodiment of the present invention.

[0024] FIG. 3 shows a screenshot of a tag filter in one embodiment of the present invention.

[0025] FIG. 4 shows a screenshot of a document filter in one embodiment of the present invention.

[0026] FIG. 5. shows a screenshot of a group filter in one embodiment of the present invention. [0027] FIG. 6 shows a screenshot of a severity filter in one embodiment of the present invention.

[0028] FIG. 7 shows a screenshot of a rules type filter in one embodiment of the present invention.

[0029] FIGs. 8-9 show screenshots to add a new rule in one embodiment of the present invention.

[0030] FIG. 10 shows a screenshot of a list of parameters in one embodiment of the present invention.

[0031] FIG. 11 shows a screenshot of a list of triggers in one embodiment of the present invention.

[0032] FIG. 12 shows a screenshot of a list of groups in one embodiment of the present invention.

DETAILED DESCRIPTION OF EMBODIMENTS

[0033] A description of embodiments of the present invention will now be given with reference to the Figures. It is expected that the present invention may be embodied in other specific forms without departing from its spirit or essential characteristics. The described embodiments are to be considered in all respects only as illustrative and not restrictive.

[0034] According to the present invention, the term “Rule” defines a set of conditions followed by the set of actions. The rules are mainly represented in the “if-then” form.

[0035] The term “Rule ID” defines a unique number given to each rile authored.

[0036] The term “Rule Name & Group” defines the naming convention used for the rules and group indicates the collection of rules.

[0037] The term “Sub Rule” defines a rule within a rule which defines the specific meaning of a broader rule.

[0038] The term “Platform Rules” defines rules that can be authored by a functional expert or on-technical/business user and that will be available to all the users subscribed to the rules engine.

[0039] The term “Custom Rules” defines rules that are authored by the financial institution specific to their custom requirements. These rules will be visible only to the institution its created for.

[0040] The term “Parameters” defines the fields whose values need to be validated.

[0041] The term “Triggers” defines conditions to validate the parameters.

[0042] The term “Persona” defines ClearTrade rules engine that supports 3 personas. These are a functional expert or on-technical/business user, author, and approver. Functional expert or on-technical/business user will have the privilege to manage all types of rules i.e., custom, platform. Author will be a person from the respective financial institution who will manage the custom rules and approver can manage custom rules along with approving any new rules authored before publishing them.

[0043] Referring to FIG. 1, a block diagram of a system executed in a computer- implemented network environment 100, according to one embodiment of the present invention. The system is configured to perform trade finance operations. In one embodiment, the system is an innovative and intelligent computer-implemented solution that has been designed to allow a user to effectively and efficiently perform the trade finance operations. The system enables users such as non-technical/business users to create business rules based on domain data models, which could be plugged into any business process to drive decisions. The system is configured to create various business rules in trade finance operations and plug them into any business process to drive decisions, thereby improving the effectiveness and efficacy of trade finance operations. In one embodiment, the system is a digital workbench to process trade finance operations.

[0044] In one embodiment, the system is an application software or mobile application or web-based application or desktop application. In one embodiment, the application is executed in the computer-implemented environment or network environment 100. In one embodiment, the computer-implemented environment 100 comprises a user device 102 and a trade finance rules management system 106. The user device 102 is associated with a user. The user may be a non-technical user or business user. The user device 102 is enabled to access the trade finance rules management system 106 via a communication network 104. In one embodiment, the user device 102 is at least any one of a smartphone, a mobile phone, a laptop, a desktop, a tablet, or other suitable mobile and/or handheld electronic communication devices.

[0045] In one embodiment, the trade finance rules management system 106 is an integral component of the ClearTrade workbench. In one embodiment, the trade finance rules management system 106 is a dynamic rules engine or custom-built rules engine. In one embodiment, the trade finance rules management system 106 supports at least three personas’ including a functional expert or on-technical/business user to manage all types of rules, an author to manage the custom rules, and an approver to manage custom rules along with approving any new rules authored before publishing it. In one embodiment, the trade finance rules management system 106 supports the author and admin persona and workflows for approvals, audit logging, etc. In one embodiment, the trade finance rules management system 106 includes a business rules workbench and a web-based user interface (UI) to author and maintain various business rules.

[0046] In one embodiment, the trade finance rules management system 106 comprises a computing device 108 and one or more databases 110. In one embodiment, the user device 102 comprises a storage medium in communication with the network 104. The user device 102 accesses the computing device 108 via the network 104 configured to perform finance operations. In one embodiment, the user device 102 includes an application programming interface (API) associated with the user in communication with the computing device via the network 104 configured to allow the user to create various business rules. In an embodiment, the network 104 may be a Wi-Fi network, a WiMAX network, a local area network (LAN), a wide area network (WAN), and a wireless local area network (WLAN). In one embodiment, the database 110 is in communication with the computing device 108 via the network 104 configured to store a plurality of business rules.

[0047] In one embodiment, the computing device 108 comprises at least one processor and a memory in communication with the processor. The memory stores a set of instructions executable by the processor. In one embodiment, the computing device 108 receives the trade finance business rules created by the user or any of transactional entities via the network 104 configured to enable the users to create business rules based on domain data models that are plugged into any business process to drive decisions. In one embodiment, the computing device 108 is further configured to receive and send facts to the runtime to trigger the rules execution facts and return execution results, thereby plugging the API into the business process for decision-making.

[0048] In one embodiment, the computing device 108 may be a server or cloud server. The server is configured to collect one or more parameters from the user device 102. In one embodiment, the server may be operated as a single computer. In some embodiments, the computer could be a touchscreen and/or non-touchscreen and adopted to run on any type of OS, such as iOS™, Windows™, Android™, Unix™, Linux™, and/or others. In one embodiment, the plurality of computers is in communication with each other, via the network 104. Such communication is established via a software application, a mobile app, a browser, an OS, and/or any combination thereof.

[0049] In one embodiment, the trade finance rules management system 106 further comprises a web-based user interface (UI) to author and maintain various business rules for trade finance operations. In one embodiment, the trade finance rules management system 106 supports personas such as author, admin, and approver that are workflows for approvals, audit logging, etc. The functional expert or on-technical/business user has the privilege to manage all types of rules i.e., custom, platform. The author will be a person from the respective financial institution who will manage the custom rules. The approver can manage custom rules along with approving any new rules authored before publishing them.

[0050] In one embodiment, the system further comprises an application programming interface (API) layer. In one embodiment, the API is configured to receive and send facts to the runtime to trigger the rules execution facts and return execution results. In one embodiment, the facts are the data extracted from documents converted to an internal data structure. Further, the API can be plugged into any business process for decision-making. The system further comprises a plurality of business parameters related to Trade Finance that are used in multiple permutation combinations to create new rules. The trade finance is a highly regulated function with hundreds of business rules and terms and conditions imposed through a Letter of Credit. In one embodiment, the system interprets these terms and conditions expressed in plain language, for example, English, and translates them to business rules on the fly and validates the terms and conditions against the supporting documents submitted along with the Letter of Credit (LC).

[0051] The system comprises a plurality of pre-configured rules based on Uniform Customs and Practice (UCP), International Standard Banking Practice (ISBP), and Uniform Rules for Collections (URC) Rules. In one embodiment, the system comprises more than 250 pre-configured rules based on Uniform Customs and Practice (UCP) and International Standard Banking Practice (ISBP) Rules that govern international trade. The system further comprises a plurality of operators to validate the business parameters. In one embodiment, the system comprises more than 350 business parameters related to Trade Finance, that can be used in multiple permutation combinations to create new rules. The system further comprises a plurality of operators to validate the business parameters. In one embodiment, the system comprises more than 20 operators to validate the business parameters, some include natural language-based semantic string matching for address comparisons and goods description checks.

[0052] In one embodiment, the trade finance rules management system 106 provides the ability to author rules and define the parameters, triggers, and groups. In one embodiment, the trade finance rules management system 106 further provides the ability to classify the rules as platform rules, custom rules, etc. Each rule is provided with a unique number or rule ID. In one embodiment, the platform rules are authored by a functional expert or on- technical/business user and configured to be available to all the users subscribed to the trade finance rules management system. In one embodiment, the custom rules are authored by a financial institution specific to their custom requirements and configured to be visible only to the respective institution. In one embodiment, the trade finance rules management system 106 further provides the ability to create multi-level sub-rules, manage all the rules, define the relationships between different rules and sub-rules, and execute the rules via Web APIs. In one embodiment, the trade finance rules management system 106 further provides the ability to set severity for the rules as per organizational needs (same rule can be prioritized differently by different organization) and integrate easily with other web applications supporting micro front-end.

[0053] In one embodiment, the system supports UCP 600, ISBP 745 for Letter of Credit, and URC 522 rules for collections are codified for automated scrutiny. In one embodiment, the system further supports custom rules that can be defined per the bank’s needs. In one embodiment, the system further supports baseline checks with Letter of Credit (LC) terms and conditions, s. In one embodiment, the system further supports users to add/delete/modify any of the rules per bank or by geography.

[0054] Referring to FIG. 2, a screenshot 200 of a homepage of a list of rules, according to one embodiment of the present invention. The screenshot 200 comprises a drop-down option 202 to select the type of project to view details. In one embodiment, the user may select any rule using “Search” option 204. In one embodiment, the screenshot 200 further includes “filters” option 206 to filter multiple rules in the list based on the user requirement. Each rule comprises a rule ID 208, rule name and group 210, tags 212, documents 214, and actions 216. In one embodiment, the filters 206 lists one or more options including tags 302 (as shown in FIG. 3), documents 402 (as shown in FIG. 4), groups 502 (as shown in FIG. 5), severity 602 (as shown in FIG. 6), and rules type 702 (as shown in FIG. 7).

[0055] Referring to FIG. 3, a screenshot 300 a tag filter 302, according to one embodiment of the present invention. The tag filter 302 filters a plurality of tags, for example, 31 tags. The screenshot 300 shows a “Search” option 304, which enables the user to select a required tag from the plurality of tags. The screenshot 300 further has a “Clear Filters” option 306 and an “Apply Filters” option 308. By clicking on “Clear Filters” 306, the applied filter is cleared and redirects the user to the homepage. By clicking on “Apply Filters” 308, the selected filter will be applied to proceed further.

[0056] Referring to FIG. 4, a screenshot 400 of a document filter 402, according to one embodiment of the present invention. The document filter 402 comprises a plurality of documents, for example, 27 documents. The screenshot 400 shows a “Search” option 404, which enables the user to select a required document from the plurality of documents. The screenshot 400 further has a “Clear Filters” 406 and an “Apply Filters” 408. By clicking on “Clear Filters” 406, the applied filter is cleared and redirects the user to the homepage. By clicking on “Apply Filters” 408, the selected filter will be applied to proceed further.

[0057] Referring to FIG. 5, a screenshot 500 of a group filter 502, according to one embodiment of the present invention. The group filter 502 comprises multiple groups, for example, 2 groups. The two groups are Fetter of Credit (LC) and collections. The screenshot 500 shows a “Search” option 504, which enables the user to select a required group from the multiple groups. The screenshot 500 further has a “Clear Filters” 506 and an “Apply Filters” 508. By clicking on “Clear Filters” 506, the applied filter is cleared and redirects the user to the homepage. By clicking on “Apply Filters” 508, the selected filter will be applied to proceed further.

[0058] Referring to FIG. 6, a screenshot 600 of a severity filter 602, according to one embodiment of the present invention. The severity filter 602 comprises a plurality of severity, for example, 4 severities. The 4 severities are critical, high, medium, and low. The screenshot 600 further has a “Clear Filters” 604 and an “Apply Filters” 606. By clicking on “Clear Filters” 604, the applied filter is cleared and redirects the user to the homepage. By clicking on “Apply Filters” 606, the selected filter will be applied to proceed further.

[0059] Referring to FIG. 7, a screenshot 700 of a rules type filter 702, according to one embodiment of the present invention. The rules type filter 702 comprises multiple rules types, for example, 2 rules types. The two rules type are platform rules and custom rules. The screenshot 700 further has a “Clear Filters” 704 and an “Apply Filters” 706. By clicking on “Clear Filters” 704, the applied filter is cleared and redirects the user to the homepage. By clicking on “Apply Filters” 706, the selected filter will be applied to proceed further.

[0060] Referring to FIG. 8, a screenshot 800 to add new rules, according to one embodiment of the present invention. The screenshot 800 comprises “Add New Rule” 802 and “Configuration” 804. FIG. 9 exemplarily illustrates a screenshot 900 for adding a new rule 802. The new rule 802 is provided with a rule name 902, tag name 904, group name 906, and description 908. In one embodiment, each new rule defines a set of conditions followed by a set of actions. The rules are mainly represented in the “if-then” form. In one embodiment, the rule may include one or more sub-rules. The screenshot 900 further comprises “Rules Preview” option 910. By clicking “Rules Preview” 910, the user can preview the new rule 802 before adding it to the rules list.

[0061] Referring to FIG. 10, a screenshot 1000 showing various configurations 804, according to one embodiment of the present invention. In one embodiment, the configurations 804 are parameters 1002, triggers 1102, and groups 1202. The parameters 1002 comprises a list of parameters, where the user can select any parameter using the “Search” option. The screenshot 1000 further shows “Add Parameters” option 1004 to add a new parameter in the list. In one embodiment, each parameter is provided with a parameter name, document, and type. By clicking “Submit”, the new parameter will be added to the list of parameters. The user may remove the parameter by clicking on “Cancel”.

[0062] Referring to FIG. 11, a screenshot 1100 of trigger configurations 1102, according to one embodiment of the present invention. The triggers 1102 comprises a list of triggers, where the user can select any triggers using the “Search” option. In addition, the user can customize the triggers by clicking on “Custom Triggers”. The screenshot 1100 further shows “Add New Triggers” option 1104 to add a new trigger to the list. In one embodiment, each trigger is provided with a parameter name, parameter description, and parameter type. By clicking “Submit”, the new trigger will be added to the list of triggers. The user may remove the trigger by clicking on “Cancel”. FIG. 12 exemplarily illustrates a screenshot 1200 of group configurations 1202, according to one embodiment of the present invention. The group configurations 1202 comprise a list of groups, where the user can select any group using “Search” option.

[0063] Advantageously, the system of the present invention enables non- technical/business users to create business rules based on domain data models, which could be plugged into any business process to drive decisions, thereby improving the effectiveness and efficiency of the trade finance operations. The trade finance is a highly regulated function with hundreds of business rules and terms and conditions imposed through the Letter of Credit (LC). The system interprets these terms and conditions expressed in plain language (for example, English) and translates them to business rules on the fly and validates the terms and conditions against the supporting documents submitted along with the Letter of Credit. Further, the system has the ability to create multi-level sub-rules, and set severity for rules is another feature to call out.

[0064] Preferred embodiments of this invention are described herein, including the best mode known to the inventors for carrying out the invention. It should be understood that the illustrated embodiments are exemplary only and should not be taken as limiting the scope of the invention.

[0065] The foregoing description comprise illustrative embodiments of the present invention. Having thus described exemplary embodiments of the present invention, it should be noted by those skilled in the art that the within disclosures are exemplary only, and that various other alternatives, adaptations, and modifications may be made within the scope of the present invention. Merely listing or numbering the steps of a method in a certain order does not constitute any limitation on the order of the steps of that method. Many modifications and other embodiments of the invention will come to mind to one skilled in the art to which this invention pertains having the benefit of the teachings in the foregoing descriptions. Although specific terms may be employed herein, they are used only in generic and descriptive sense and not for purposes of limitation. Accordingly, the present invention is not limited to the specific embodiments illustrated herein.