What is LC Amendment Procedure?

Definition of LC Amendment

LC amendment means is enclosing any kind info include or reduce from LC. Such as we seem that Buyer got a LC but he said that decrees or amendment 32B: tag of LC reduce value for goods qty dis crease. So, as a result bank recommended take necessary step for amendment by Beneficiary as per Buyer requirement so, which procurement means Amendment of LC.

How to Proceed Amendment 

Now here I try described how to get LC amendment. Actually LC amendment procedure is vary easy but its demand vary high. So carefully proposal for LC amendment. If anybody fail or put wrong information then again re-procedure LC amendment neither misuse loss amendment fee $50.00 dollar. 

Solution: 01

 01. Carefully understand what kind of amendment you need.

 02.  Then ready to amendment forwarding which process by amendment require authority.

Plz follow below amendment forwarding :-
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Date: …….09.2018

To

The Executive Vice President,

ABC Bank Bangladesh Limited,

Foreign Exchange Baranch

73, Dilkusha C/A,

Dhaka-1000.

Re: L/C Amendment against BB L/C No. 01234567890 dated 23.07.2018 for US$ 18,000.00 

Dear Sir

With due respectfully to state we are XYZ , Vadam, Nishatnagar, Tongi, Gazipur, Bangladesh.  I have opened LC from your site. So, now I essential LC amendment due to some terms as well as dis-creasing amount of LC . So please as follows below for your kind attention.

01. BB L/C No. 01234567890 dated 23.07.2018 for US$ 18,000.00

Ø  LC Value        : 16,000.00 Instead of 18,000.00

 or

Include Proforma Invoice: xyz/001/2018/001-rv-01 dt: 25.07.2018 Value : 16000.00 Instead of xyz/001/2018/001 dt: 22.07.2018 Value : 18,000.00

We refer to the above BB L/C and would request you to please amend the L/C as follows:

All other terms and conditions remain unchanged.

Thanking You

Yours Faithfully,

Managing Director
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03. After getting LC look like as below format.
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Notification (Transmission) of Original Sent SWIFT (ACK)

Network Delivery Status                    : Network Ack

Priority / Delivery                 : Normal

Message Output Reference               : 1670 02112017 PNBPCNSHXXX00255556685

Message Input Reference                 : 1659 02112017 JANBBDDHAJBC8219554694

--------------------------------------------------------Message Header-----------------------------------------------------------

Swift Input                                            : FIN 707 Issue of a Documentary Credit

Sender   :               PNBPCNSHXXX

                                WELLS FARGO BANK, NA, SHANGHAI BRANCE

                                SHANGHAI CN

Receiver:               JANBBDDHJBC

                                JANATA BANK LIMITED

                                (JANATA BANK CORPORATE BRANCE)

                                DHAKA BD

----------------------------------------------------------Message Text------------------------------------------------------------

F20 :       Sender’s Refernce

                01234567890

F21 :       Receiver’s Rerernce

                Non Ref

F31C:     Date of Issue

23/07/2018                                           2017 July 23

F30:        Date of Amendment                                           2017 July 25

F26E:     Number of Amendment

                1

F59:        Beneficiary (Before this amendment)

Name and Address

JIANGSU GUO TAI INTERNATIONAL

GROUP GUO MAO CO LTD.

15-24F , GUTAI TIMES PLAZA, BUILDING A,

NO: 65 REN MIN ROAD, ZHANG, JIANGJ,

CHINA

F33B:     Decreased of Documentary Credit Amount.

Currency:                              USD                        USD DOLLAR

Amount   :                      2,000.00                            2,000.000

F34B:     New Documentary Credit Amount After Amendment

Currency:                              USD                        USD DOLLAR

Amount   :                         16,000.00                          16,000.00

F79 :       Narrative

We have been informed by Beneficiary that Applicant few Export related yarn item chance.
So for this caused Buyer unable to receive this lc. Hence the applicant desires to dis crease the lc as per ref: xyz/001/2018/001-rv-01 dt: 25.07.2018 so Please collect the lc which cancels recommended.

Message Trailer

------------------------------------Message Trailer------------------------------

{CHK: EBD2650E17C5}

PKI Signature : MAC – Equivalent

-------------------------------------Interventions-------------------------------

Category               : Network Report

Creation Time      : 25/07/2018 16:55:55

Application           : SWIFT Interface

Operator                : SYSTEM

Text

{1:F21JANBBDDHAJBC8219554694} {4: {17177:141113165/} {451:0} }

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 If you not clear it please feel free mail me to get more information.