During Cancel/Closure of Transferred LC, OS amount and OS liability of Transferred LC to be re-instated to parent LC. RTRA (Reinstatement of Transferred LC Amount) should be triggered in parent LC during Cancel/Closure of Transferred LC.RTRA is non-version creation event. Charges and Taxes are not supported for RTRA event.

• In the case of amendment initiation for the transferred LC in LCDAMEND screen with beneficiary confirmation and Cancellation Request, amendment initiation (AMNV) event will trigger in transferred LC. During Confirmation of same amendment, amendment confirmation (ACON) and cancellation of LC (CANC) events will trigger in transferred LC. Reinstatement of transferred LC amount (RTRA) event will be triggered in parent export LC on authorization of transferred LC cancellation confirmation. OS amount and OS liability of transferred LC to be re-instated to parent export LC.
• In the case of amendment initiation for the transferred LC in LCDAMEND screen without beneficiary confirmation and Cancellation Request, cancellation of LC (CANC) event will trigger in transferred LC and reinstatement of transferred LC amount (RTRA) event will be triggered in parent export LC on authorization of transferred LC cancellation. OS amount and OS liability of transferred LC to be re-instated to parent export LC.
• If the cancelation of transferred LC initiated from LCDTRONL screen, cancellation of LC (CANC) event will trigger in transferred LC and reinstatement of transferred LC amount (RTRA) event will be triggered in parent export LC on authorization of transferred LC cancellation. OS amount and OS liability of transferred LC to be re-instated to parent export LC.
• If the closure of transferred LC initiated from LCDTRONL screen, closure of LC (CLOS) event will trigger in transferred LC and reinstatement of transferred LC amount (RTRA) event will be triggered in parent export LC on authorization of transferred LC closure. OS amount and OS liability of transferred LC to be re-instated to parent export LC.

Following validations will be available in transferred LC.

1. If there is any outstanding bill under Transferred LC, system should not allow to Cancel/Closure of Transferred LC and system should display appropriate error.
2. If there is any Amendment pending for confirmation, system should display an error to user while cancelling LC.
3. Once Transferred LC closed, reopen of the same Transferred LC is not allowed and system should display appropriate error.

Following validations will be available in parent LC.

1. During Cancel/Closure of export parent LC, system should validate if there are any active child LCs, if exists should display error message "Contract cannot be Cancelled/Closed as there are active Transfer LC(s)"