2 Import LC Amendment Islamic

Import LC Amendment Islamic process enables the user to make an amendment to the LC which had been already issued. The common amendments that are made to an Import LC are:
  • Expiry date
  • Latest Shipment Date
  • Increase/Decrease in LC amount
  • Tolerance percentage
  • Confirmation instruction
  • Available with bank
  • Port of loading/discharge
  • Goods quantity
  • Related documents to be submitted

The amendments may need consent from the beneficiary of the amendment. In such scenarios, after the processing of amendment, the amended LC is parked awaiting beneficiary consent.

The various stages involved for Import LC Amendment are:
  • Receive and verify documents (Non Online Channel)- Registration stage
  • Input amendment application details
  • Upload of related mandatory and non-mandatory documents
  • Verify documents and capture details (Online/Non Online Channels)- Scrutiny stage
  • Input/Modify details of amendment of LC - Data Enrichment stage
  • Check for limit availability
  • Check balance availability for amount block
  • Check for sanctions & KYC status
  • Earmark limits/Create amount block for cash margin/charges
  • Capture remarks for other users to check and act
  • Generate acknowledgements and draft LC copies
  • Notify customer on any negative statuses in any of the stages to the applicant l Hand off request to back office

The design, development and functionality of the Islamic Import LC Amendment process flow is similar to that of conventional Import LC Amendment process flow.

This section contains the following topics:

  • Common Initiation Stage
    This topic provides the systematic instructions to initiate the new Import LC Amendment Islamic request.
  • Registration
    This topic provides the systematic instructions to initiate the registration stage of Import LC Amendment - Islamic request.
  • Scrutiny
    This topic provides the systematic instructions to initiate scrutiny stage of import LC amendment Islamic request.
  • Data Enrichment
    This topic provides the systematic instructions to initiate the Data Enrichment stage of Import LC issuance - Islamic request.
  • Customer Response - Draft Confirmation
    This topic helps you quickly get acquainted with the Customer Response - Draft Confirmation process.
  • Exceptions
    This topic helps you quickly get acquainted with the Exceptions process.
  • Multi Level Approval
    This topic helps you quickly get acquainted with the Multi Level Approval process.
  • Customer - Acknowledgement
    This topic helps you quickly get acquainted with the Customer Acknowledgement process.