This chapter is documented to get familiar with the Import LC Cancellation process of Oracle Banking Trade Finance Process Management.

Import LC Cancellation process enables the user to cancel an active import LC.

An active Import LC can be cancelled if further documents are not expected/required under a LC. In such scenarios this process is to be initiated.

Scenario 1 - Cancellation where part or full value of the LC is outstanding and further drawings can be booked.

Example: Original LC value USD 1, 00,000 and Outstanding LC value USD 1, 00,000

Scenario 2 - Cancellation where no more drawings are possible.

Example: Original LC value USD 1, 00,000 and Outstanding LC value USD 100 In the following sections, let’s look at the details for Import LC Cancellation process.

This topic contains following sub-topics:

• Common Initiation Stage
  This topic provides the systematic instructions to initiate the Import LC Cancellation request.
• Registration
  This topic provides the systematic instructions to initiate the Registration stage of Import LC Cancellation request.
• Data Enrichment
  This topic provides the systematic instructions to initiate the Data Enrichment stage of Import LC Cancellation 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.
• Customer - Acknowledgement
  This topic helps you quickly get acquainted with the Customer Acknowledgement process.
• Import LC Cancellation Rejection Format
  This topic helps you quickly get acquainted with the Customer - Reject Advice.