Capabilities Trust & Payments Escrow & Trade Assurance Digital Wallet & Payments Electronic Letter of Credit

Letters of credit, built from your contract.

Letters of credit built from your contract, issued digitally and presented without paper.

Apply for an eLC See how it works

What you get with T57

ApplicationWithout T57: Retyped from the contractWith T57: Built from the contract
DiscrepanciesWithout T57: Found at presentationWith T57: Checked before presentation
DocumentsWithout T57: Paper and couriersWith T57: Presented digitally

TodayWith T57

Finance, escrow and insurance come from licensed partners.

Saudi riyal banknotes laid in rows. — Payments run through licensed partners and release when agreed milestones are met.

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Finance a trade

Turn a verified trade into finance offers from licensed partners, tracked to settlement.

T57 solves the delays and discrepancies of paper letters of credit, by building each LC from the verified contract and connecting applicants, banks and beneficiaries on one digital record.

The problem

Paper LCs: slow and error-prone

Letters of credit protect both sides of a cross-border trade: the seller is paid if it presents the right documents, and the buyer pays only if those documents are presented. But the process is slow. Applications are filled in by hand, terms are copied from contracts, and documents travel by courier between banks. When the documents do not exactly match the LC, payment is delayed. Laws such as the UNCITRAL Model Law on Electronic Transferable Records and the UK Electronic Trade Documents Act 2023 now recognize electronic trade documents, but most food SMEs still work on paper. The key challenges T57 addresses include:

Slow issuance

Manual applications and bank processes take days.

Discrepancies

Small differences between the LC, the contract and the shipping documents delay payment.

Paper and couriers

Physical documents add cost and time, and can be lost or altered.

How T57 works for you

Apply from the contract → Bank approval → Issue → Present and pay

01
Apply from the contract
The buyer starts the LC application from the accepted contract, so product, quantity, price, Incoterms and dates are already filled in.
02
Bank approval
A partner bank reviews the application with the verified trade record and approves it under its own credit rules.
03
Issue
Once approved, the eLC is targeted to be issued in about 15 minutes and is visible to the seller and its bank on T57.
04
Present and pay
The seller presents shipping, inspection and insurance documents digitally. AI checks them against the LC first, and the bank pays on compliant presentation.

Features

9 features, one trade record

Contract-to-LC builderThe LC application is filled in from the contract. For importers, this saves time and reduces errors.

Partner bank networkApplications go to licensed partner banks in T57's markets. For members, this means access beyond a single bank relationship.

Fast issuanceAbout 15 minutes from approval to issuance as the target. For exporters, this means shipping sooner.

Pre-presentation checksAI compares documents with LC terms and flags discrepancies before presentation. For exporters, this means fewer rejected presentations.

Digital presentationDocuments are presented on the trade record, where the law recognizes electronic documents. For both banks, this removes couriers.

Amendments on recordLC amendments are requested, approved and recorded digitally. For both parties, this keeps one version of the truth.

Linked financeLCs can be combined with pre-shipment or post-shipment finance on the same record. For exporters, this unlocks working capital.

Status trackingEvery step, from application to payment, is visible to authorized parties. For finance teams, this ends chasing banks by email.

Shariah-compliant optionsLC structures that meet Islamic finance principles through participating banks. For members in OIC markets, this keeps trade aligned with their values.

Use case · Illustrative example

Guntur chilli exporter ships to Kuala Lumpur under an eLC

A dried chilli exporter in Guntur, Andhra Pradesh, agrees to supply a verified Kuala Lumpur spice blender. The blender applies for an eLC on T57 from the accepted contract, and its partner bank approves it. The LC is issued shortly afterwards and the exporter ships. Before presenting, the AI check flags that the certificate of origin shows a different port of loading from the LC. The exporter corrects it, presents digitally, and is paid without a discrepancy fee.

Why T57

We believe that the safest way to pay should not be the slowest.

Banks decide, T57 connects

LCs are issued by licensed partner banks under their own rules. T57 provides the verified record and the digital workflow.

AI advises, people decide

AI checks documents for discrepancies. Bank officers decide on every application and presentation.

FAQ

Common questions

What does "about 15 minutes" mean?

It is the target time for issuance after the bank has approved your application. Approval follows the bank's normal credit process.

Can my own bank issue the LC on T57?

If your bank is a T57 partner, yes. If not, T57 can connect you to participating banks.

Are electronic LCs legally valid?

Letters of credit are commonly issued and advised electronically between banks. Electronic presentation of trade documents depends on local law, and T57 supports paper presentation where it is still required.

Every capability, one trade record