7.1 Introduction
An amendment to an Islamic Letter of Credit (Islamic LC) signifies any change made to the terms of an Islamic LC after it has been authorized. An amendment can be made after an Islamic LC has been authorised.
The following are some examples when you would amend the details of an Islamic LC:
- You, as the issuing bank, have received an application from your customer to change the terms of the Islamic LC
- You as the advising bank have received instructions from the issuing bank to amend an Islamic LC as advised.
Parent topic: Amend Details of an Islamic LC