1. Export LC Amendment Islamic User Guide
  2. Export LC Amendment - Islamic

2 Export LC Amendment - Islamic

This chapter is documented to get familiar with the Export LC Amendment - Islamic process of Oracle Banking Trade Finance Process Management.

Conventional Export LC Amendment process enables the user to make an amendment to the LC which had been already advised.

The common amendments that are made to an Export 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 Islamic Export 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 /capture details (SWIFT MT707, 708/Non Online Channels)- Scrutiny stage
  • Input/Modify details of amendment of LC - Data Enrichment stage
  • Check for limit availability if applicable
  • Check balance availability for amount block
  • Check for sanctions & KYC status
  • Earmark limits/Create amount block for cash margin/charges if applicable
  • Capture remarks for other users to check and act
  • Hand off request to back office

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

In the following sections, let’s look at the details for Islamic Export LC amendment process.

This topic contains following subtopics:

  • Common Initiation Stage
    This topic provides the systematic instructions to initiate the Export LC Amendment - Islamic request.
  • Registration
    This topic provides the systematic instructions to initiate the Registration stage of Export LC Amendment - Islamic request.
  • Scrutiny
    This topic provides the systematic instructions to initiate the Scrutiny stage of Export LC Amendment - Islamic request.
  • Data Enrichment
    This topic provides the systematic instructions to initiate the Data Enrichment stage of Export LC Amendment - Islamic request.
  • 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.