In this topic we will discuss the suggested accounting entries that should be generated for each event in the life cycle of an LC.

• BISS: Booking of an import LC
  
• AVAL: Availment Under LC
  
• CLOS: Closure of an LC / Guarantee
  
• REIN: Reinstatement of an LC / Guarantee
  
• BADV: Advising an LC
  
• BCFM: Confirming an LC
  
• BPRE: Pre-advising an LC
  
• BANC: Advising and Confirming An LC
  
• AMND: Amendment
  
• AOCF: Amendment from Open to Open and Confirm
  
• APAD: Amendment from Pre-advice to Advice
  
• APAC: Amendment from Pre-advice to Advice and Confirm
  
• REVR: Reversal of an LC Contract
  
• REVE: Reversal of an LC Event
  
• ACCR: Accrual of Commission
  
• CALC: Periodic Commission Calculation Date
  
• CLIQ: Liquidation of Commission
  
• ROPN: Reopening of an LC
  
• CANC: Cancellation of an LC
  
• TRGN: Generation of Tracers
  
• AATC: Amendment from Advice to Confirm
  
• RASN: Reassign an LC
  
• Transfer of an LC
  
• RAVL: Reversal of Availment
  
• BKSG: Booking of Shipping Guarantee
  
• CASG: Cancellation of Shipping Guarantee
  
• APRE: Amendment of LC with Pre-advice
  
• GCLP: Guarantee Claim Settlement
  
• AASC: Amendment of Advice to Silent Confirmation