4.2.2.1 Update the Limits on Reversal or Deletion of Bills Contract
Oracle Banking Trade Finance allows you to reverse or delete a Bills contract. On reversal or deletion of a bill, the limits of customers are reduced to the extent to which it was tracked.
When a BC contract is reversed, limit update happened during BC contract booking will also be reversed. The available amount of the limit line will be reinstated to the extent of LC availment amount and the matured amount of the limit will be reduced to the extent of LC availment amount.
When a BC contract booked under an LC is reversed, the following events will
be triggered in the same sequence.
- RAVL-Triggered on the LC contract for reversal of the corresponding availment
- RVSG- Triggered on the LC contract for reversal of the cancellation of the Shipping Guarantee, when an SG is linked
- RVCA- Triggered on the shipping guarantee contract for roll back of cancellation of the Shipping Guarantee, when an SG is linked
- REVR-Triggered on the BC contract for reversal of the contract
- REVE- Triggered on the BC contract for reversal of the Event.
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