Modification of L C, steps of L C modification?

After receiving the letter of credit amendment notice, the exporter must go through the review again and confirm that it is correct before the goods can be shipped.

Amendment of L/C is generally requested by the exporter to the importer. However, in individual cases, for some reason, the importer also takes the initiative to request the modification of the letter of credit.

If the letter of credit is irrevocable, the importer must obtain the consent of the exporter if it proposes to amend the letter of credit;

If the exporter refuses to accept it, the notice of amendment shall be returned to the notifying bank in a timely manner. In this case, the issuing bank still needs to bear the payment liability according to the original certificate.

Yes, if the beneficiary or the bank finds that the terms of the letter of credit are unacceptable, or there are inconsistencies with the contract, or there are incomplete terms, the beneficiary may request the issuer to amend the letter of credit. Of course, the importer may also request a revision due to changes in the situation. This is because both the bank and the beneficiary must verify that the documents are correct before the shipment is due, and the beneficiary will arrange the shipment.

Of course, there are things to keep in mind

1) In any case, the modification of the irrevocable L/C shall be proposed by the applicant for levy, amended by the issuing bank, and approved by the issuing bank, the confirming bank and the beneficiary before it can take effect.

2) The amendment must be transmitted through the original notice to be valid.

3) If the notice of amendment involves more than two clauses, either accept all or all of them, and not only accept part of the amendment.

4) The amendment will only be valid if the applicant, the issuing bank and the beneficiary agree.

5) The beneficiary must receive the notice of modification from the noting bank before the shipment can be processed, and the buyer must not rely on it alone'The certificate has been completed'Notices or other similar notices are given in connection with shipments.

6) The fee for amendment is generally borne by the party proposing the amendment. Domestic banks calculate the amendment fee according to the number of amendments, not according to the size of the L/C.

Can you send l c. I'll take a look at it for you.

Summary. Hello, happy to answer your <>

The rules for modifying the L/C are as follows: only the buyer (issuer) has the right to decide whether to accept the modification of the L/C; Only the seller (beneficiary) has the right to decide whether or not to accept the L/C amendment. The following points should be paid attention to when modifying the letter of credit:

All the content that needs to be modified should be proposed to the guest at one time to avoid multiple modifications to the letter of credit. Any amendment to any clause in an irrevocable letter of credit must be agreed by the parties before it can take effect.

Modify the letter of credit.

1.Find out the difference2Modify the letter of credit.

Hello, happy to answer your <>

The rules for modifying the L/C are as follows: only the buyer (issuer) has the right to decide whether to accept the amendment of the letter of stool hunger; Only the seller (beneficiary) has the right to decide whether or not to accept the L/C amendment. The following points should be paid attention to when modifying the letter of credit:

All the content that needs to be modified should be proposed to the guest at one time to avoid multiple modifications to the letter of credit. Any crude amendment to any clause in an irrevocable letter of credit must be agreed by the parties before it can take effect.

Your problem is a service upgrade that needs to be upgraded.

If the customer needs to amend the L/C that has been issued, he/she shall submit an application for L/C amendment to Huaxia Bank, and Huaxia Bank will issue an amendment message accordingly. If the modification involves an increase in the amount, it shall be re-approved in accordance with the approval procedures for issuance.

There are too many spelling mistakes to understand the full meaning accurately. Generally speaking, there should be a problem with the amount of the letter of credit, and the actual amount negotiated exceeds the total amount of the letter of credit, and the letter of credit is not allowed to be exceeded, which should be the place where the letter of credit needs to be modified.

Between the clauses, at least enter the carriage back, it looks too hard.

Are you trying to say that there are provisions in these terms that need to be changed?

If you think ** is not appropriate, discuss it with him.

For example, the maximum negotiated amount cannot exceed 17733, or the spot cannot be satisfied, or it cannot be shipped in batches, cannot be transshipped, or the latest shipment period cannot be met, which we cannot know.

See for yourself.

This is the homework given to you by your teacher, do it yourself.

1.The content to be revised should be proposed as soon as possible.

2.The contents of the notice of amendment are either accepted in full or rejected in full.

3.Clause 10 of UCP600: The terms of the original letter of credit remain in effect against the beneficiary until the beneficiary informs the bank notifying the bank of the amendment that it accepts the amendment.

The beneficiary shall provide notice of rejection or impulsive acceptance of the amendment. If the beneficiary fails to give the notification, the beneficiary shall be deemed to have given notice of acceptance of the modification when the documents are consistent with the request for the letter of credit and the amendment for which acceptance has not yet been expressed, and the letter of credit shall be amended from that point onwards.

The letter of credit is a kind of bank guarantee document issued by the bank to the exporter at the request of the importer to guarantee payment under certain conditions. In international activities, buyers and sellers may not trust each other, so two banks are required to act as guarantors for buyers and sellers, collect and submit documents on behalf of them, and replace commercial credit with bank credit, and the tool used by banks in this activity is letter of credit.

Amendments to the letter of credit should be noted as follows:

1.Only the buyer (issuer) has the right to decide whether to accept the modification of the letter of credit;

2.Only the seller (beneficiary) has the right to decide whether or not to accept the L/C amendment.

The following points should be paid attention to when modifying the letter of credit:

One. All the content that needs to be modified should be proposed to the guest at one time to avoid multiple modifications to the letter of credit.

Two. Any modification of any clause in an irrevocable letter of credit must be agreed by the parties before it can take effect.

2) There are two ways to accept or reject the modification of the letter of credit:

1.The beneficiary gives a notice of acceptance or rejection of the amendment of the letter of credit;

2.The beneficiary acts in accordance with the contents of the letter of credit.

Three. After receiving the L/C amendment, it shall check whether the revised content meets the requirements in a timely manner, and express acceptance or re-propose the amendment in each case.

Four. Either accept all or reject all modifications. Partial acceptance of the content in the amendment is invalid.

Five. The amendment of the L/C must be approved by the original L/C advising bank to be true and valid; An amendment request or a copy of the amendment sent directly by the customer is not a valid amendment.

Six. Make it clear who will bear the cost of the amendment. Generally, the responsibility is based on who bears the cost of modification. Exams are big and I organize.