41 Cancel Transfer Letter of Credit

This topic provides the systematic instructions to cancel the issued Transfer Letter of Credit.

Using this option, user can apply for cancellation of Transfer Letter of Credit and accept the requests for cancellation of existing Transfer Letter of Credit in the application.

Pre-requisites
  • User must have a valid login credentials
  • User must have certain Export LCs received by his bank under his party ID
  1. From the Dashboard, click Menu, then click Trade Finance, and then click Export Letter of Credit. Under Export Letter of Credit, click Cancel Transfer LC and then click Cancel Transfer Letter of Credit.
    The Cancel Transfer Letter of Credit screen appears.

    Figure 41-1 Cancel Transfer Letter of Credit
    Description of cancel-transfer-letter-credit.png follows
    Description of the illustration cancel-transfer-letter-credit.png

    For more information refer to the field description table below:

    Table 41-1 Cancel Transfer Letter of Credit - Field Description

    Field Name Description
    Lookup Transfer LC Reference No Select the Transfer LC reference numberr.

    Only active Transfer LC Reference Numbers are listed in the search list.
  2. Perform any one of the following actions:
    • Select the appropriate transfer LC reference numberfrom the Lookup Transfer LC Reference No

      list, for cancellation.

    • Click the Advanced Lookup link.

      The Advanced Lookup overlay screen appears.

    Advanced Lookup
    Description of cancel-transfer-letter-credit-advanced-lookup.png follows
    Description of the illustration cancel-transfer-letter-credit-advanced-lookup.png

    For more information refer to the field description table below:

    Table 41-2 Cancel Transfer Letter of Credit - Field Description

    Field Name Description
    Advanced Lookup This section displays the advance look up fields to search the Transfer LC.
    First Beneficiary Name Select the name of the first beneficiary of the Transfer LC.
    Second Beneficiary Name Specify the name of the second beneficiary of the Transfer LC.
    Issue Date From - Issue Date To Specify the start date and end date of the Issue date range used for searching the Transfer LC.
    Expiry Date From - Expiry Date To Specify the start date and end date date range in which the Transfer LC expires.
    Currency Select the currency under the Transfer LC.
    Amount From - Amount To Specify the Transfer LC amount range used for searching the Transfer LC.
    Search Results Below fields are displayed when the user clicks Apply button.
    LC Number Displays the reference number of the LC.
    Parent LC Number Displays the parent LC number of the Transfer LC.
    First Beneficiary Name Displays the name of the first beneficiary of the Transfer LC.
    Second Beneficiary Name Displays the name of the second beneficiary of the Transfer LC.
    Issue Date Displays the issue date of the Transfer LC.
    Expiry Date Displays the expiry date of the Transfer LC.
    LC Amount Displays the LC amount of the Transfer LC.
  3. Specify the filter criteria.
  4. Click Apply. Based on the defined criteria you can view the results.
  5. Click Cancel to cancel the transaction. The Dashboard appears.
  6. Click Clear to clear the filter criteria
  7. Click Verify. The Bank Guarantee Details appear.
  8. Click Reset to clear the search.

    This topic contains following sub-topics: