2 Export LC Transfer Amendment

This chapter is documented to get familiar with the Export LC Transfer Amendment process of Oracle Banking Trade Finance Process Management Cloud Service.

Following are some of the scenarios where transfer LC amendmentmay be required:
  • Amendment of the Expiry Date
  • Amendment of the Amount
  • Amendment of the Latest Shipment date
  • Amendment of the Goods Description
  • Amendment of the Shipment Details
  • Amendment of the Documents Required
  • Amendment of the Additional Conditions

Transfer LC Amendment by Increase in Transfer LC Value

Following points are applicable for both Amendment with Beneficiary consent and Without Beneficiary Consent.

  • System checks, that the increase in Transfer LC amount including tolerance if any, is not greater than the Outstanding amount in Parent LC. System displays an error if it is greater.
  • System reduces the Outstanding Amount and liability in Parent LC, to the tune of the increased amount in Transfer LC including tolerance.

Transfer LC Amendment by Decrease in Transfer LC value

During Transfer LC Amendment by decrease in Transfer LC value, system validates the decrease value with the outstanding amount of Transfer LC If the decrease value is greater than outstanding amount, system will display an error.

This topic contains following sub-topics:

  • Common Initiation Stage
    This topic provides the systematic instructions to initiate the Export LC Transfer Amendment request.
  • Registration
    This topic provides the systematic instructions to initiate the Registration stage of Export LC Transfer Amendment request.
  • Scrutiny
    This topic provides the systematic instructions to initiate the Scrutiny stage of Export LC Transfer Amendment request.
  • Data Enrichment
    This topic provides the systematic instructions to initiate the Data Enrichment stage of Export LC transfer Amendment request.
  • Exceptions
    This topic helps you quickly get acquainted with the Exceptions process.
  • Customer Response - Draft Confirmation
    This topic helps you quickly get acquainted with the Customer Response - Draft Confirmation process.
  • Multi Level Approval
    This topic helps you quickly get acquainted with the Multi Level Approval process.
  • Customer - Acknowledgement Format
    This topic helps you quickly get acquainted with the Customer Acknowledgement process.
  • Customer - Reject Advice
    This topic helps you quickly get acquainted with the Customer - Reject Advice.