| |
|
The Amend Import Letter of Credit page allows you to enter information for an Import Letter of Credit amend transaction.
Different action buttons appear on the page (Attach a Document, Save, Save & Close, Verify Data, Route Transactions and Close and so on), depending on the transaction's status and/or whether the transaction is in edit mode or read-only mode. This page appears in read-only mode if you have view only security rights to instruments, if the transaction has any status other than "Started", or if the instrument was not created by your organisation (if your organisation has subsidiaries). Click here to read about the actions available on transactions for each status in edit mode and read-only mode.
The Amend Import Letter of Credit page includes the following sections:
· Rejected Reasons (displays conditionally)
· Terms
· Shipment
· Amendment Application Form (displays conditionally)
The Rejected Reasons section of the Amend Import Letter of Credit page contains the rejection reasons listed by the bank for this transaction. The rejection reasons will be displayed until the transaction has been successfully authorised and resubmitted to the bank.
The Terms section of the Amend Import Letter of Credit page contains basic information about the Import Letter of Credit amend transaction. The fields and controls contained in the General section are described below.
Field/Control |
Description |
Reference Number |
Your reference number for the instrument. This field displays the Applicant's reference number in read-only form. |
Local Reference Number |
Displays the local reference number added by the TPS user. Import LC, Standby LC, and Guarantees will include the Local Reference No. |
LC Amount |
The amount of the transaction. This field displays in read-only form the original amount from the issue transaction, with the currency indicated before the amount. To enter a new LC amount, select Increase Amount or Decrease Amount Radio button Amount , enter a dollar amount in the USD field. The new amount will display in the New LC Amount read-only field. |
Applicant’s Name |
The applicant’s name is displayed for information in read-only form. This is the name of the applicant of the import LC instrument based on the last transaction processed by the bank. |
Current Available Amount |
Displays a combination of the Currency and the current available LC Amount. |
Current Expiry Date |
The current expiry date is displayed for information in read-only form. This is the date on which the import LC instrument currently expires based on the last transaction processed by the bank. |
New LC Amount |
Displays the new LC amount, based on the original LC amount and whether you selected Increase Amount or Decrease Amount radio buttons. |
New Expiry Date |
The date that the transaction expires. To enter the expiry date, select a day, month, and year from the appropriate drop-down lists. An expiry date selection is required. |
New Amount Tolerance |
The amount tolerance of the transaction. This is the percentage amount that the instrument can be over- or underdrawn. You can type up to 3 characters into each percentage field (+ and -). |
Amendment Charges |
Indicates the distribution of Amendment charges for the instrument. To specify, select one of the following options: All our account - Indicates that the Applicant will pay all of the Issuing Bank's, Advising Bank's, and any other bank's charges. All bank charges other than those of the Issuing Bank are for Beneficiary's account - Indicates that the Applicant will pay the issuing Bank's charges; any other bank's charges will be borne by the Beneficiary. Other - When "Other Conditions" link is selected, a pop-up window will automatically appear for user to enter their info. Users can bring up the pop-up any time by clicking the link. For example, there might be a combination of charge distributions, such as the opening fee charged to the Applicant and amendment and all other fees charged to the Beneficiary. If you select this option, be sure to enter the details into the Other Conditions section. |
The Shipment section of the Amend Import Letter of Credit page contains shipment information for the Import Letter of Credit amend transaction. The fields and controls contained in the Shipment section are described below.
Field/Control |
Description |
New Latest Shipping Date |
The latest date that the goods can be shipped for the transaction. To enter the latest shipment date, select a day, month, and year from the appropriate drop-down lists. |
New Shipping Term (Incoterm) |
The shipping term, or Incoterm, that describes what is included in the total cost of the transaction goods. For example, Cost and Freight or Cost Insurance Freight. To specify a shipping term, make a selection from this drop-down list. |
New Shipping Term Location |
The location where the purchaser of the transaction goods will take responsibility for them. For example, the port of discharge for the goods. To specify, enter a location in the text box. This field can contain up to 140 characters. |
New Place of Taking Charge/Dispatch From.../Receipt |
The new point of origination for the goods. This field can contain up to 140 characters. |
New Port of Loading / Place of Taking Charge / Dispatch |
The point of origination for the goods. To specify, enter a location in the text box. This field can contain up to 140 characters. |
New Place of Final Destination/Delivery/For Transport to |
The new point of final destination for the goods. This field can contain up to 140 characters. |
New Port of Loading / Airport of Departure |
The new point of loading of the goods to transport carrier. This field can contain up to 140 characters. |
Amend Partial Shipment |
If the user checks the Amend Partial Shipment the radio buttons will be displayed as follows: Partial Shipments Allowed: If this radio button is selected, partial shipments are allowed for this instrument, For Example: When the quantity of the goods stated can be shipped in two or more different consignments Partial Shipments not Allowed: If this radio button is selected, partial shipments are not allowed /Prohibited. Partial Shipments Conditional: If Partial Shipment Conditional is selected, the Other Conditions link will open automatically to allow the user to enter the conditions of partial shipment. |
Changes to the Goods Description / Shipment Details |
Changes to the description of the goods being purchased. To enter text, you can either type directly into the text area, or add a phrase from the drop-down list to the text area. Entered text appears in this text area in a fixed-space font (for example, "goods description text") so that the goods description can be formatted into columns. When the user amends an LC with multiple shipments, it is recommended that the user types a heading, such as ”changes to shipment 1”, with the changes following. Any changes for purchase orders for the shipment being amended can also be entered here. Each shipment to be amended should be preceded by a new heading with the shipment and purchase order details following. |
PO Line Items |
The non-structured purchase order line items assigned to the transaction. This read-only text area appears only if one or more PO line items are assigned to this transaction. To assign additional PO line items to the transaction, press Add PO Line Item(s). To remove PO line items currently assigned to the transaction, press Remove PO Line Item(s). When purchase orders are uploaded or added to an Import Letter of Credit Amend transaction, the amount, expiry date and latest shipment date fields are derived using the details of the purchase order(s). The user should validate that the data in these fields is correct. |
Add PO Line Item(s) |
Pressing this button displays the Add PO Line Item(s) page, which allows you to specify one or more PO line items to assign to the transaction. This button displays only if your organisation uses the system's non-structured purchase orders functionality. |
Remove PO Line Item(s) |
Pressing this button displays the Remove PO Line Item(s) page, which allows you to remove one ore more PO line items currently assigned to the transaction. This button displays only if the PO Line Items area is displayed. |
Add Uploaded Purchase Order(s) |
Enables the user to view a list of structured Purchase Orders that have been attached to the Import Letter of Credit Instrument. This button only displays if the user is authorised to work with structured Purchase Orders and if there are structured purchase orders attached to the instrument. |
View Attached Purchase Order(s) |
Enables the user to view a list of structured Purchase Orders that have been attached to the Import Letter of Credit Instrument. This button only displays if the user is authorised to work with structured Purchase Orders and if there are structured purchase orders attached to the instrument. |
Remove Purchase Order(s) |
Enables the user to remove one or more structured Purchase Orders that have been attached to the Import Letter of Credit Instrument. This button only displays if the user is authorised to work with structured Purchase Orders and if there are structured purchase orders attached to the instrument. |
Documents Required |
This section will be a separate text field that will allow the user to enter changes required documents in a specific field. Required Document phrases will be displayed in the Documents required dropdown. |
The Other Conditions section of the Amend Import Letter of Credit page contains information about other terms, conditions, or details for the Import Letter of Credit amend transaction.
The Other Conditions section contains a text area for additional conditions text for the transaction. To enter text, you can either type directly into the text area, or add a phrase from the drop-down list to the text area.
The Instructions to Bank section of the Amend Import Letter of Credit page contains instructions to your bank for the Import Letter of Credit amend transaction, such as settlement and commissions charges and account numbers.
The Instructions to Bank section contains a text area for special instructions text for the transaction. To enter the internal instructions text, type directly into the text area. This field can contain up to 1000 characters.
The Amendment Application Form link on the Amendment Issue LC page appears only after the transaction has been verified. When you click on this link, an Adobe Acrobat PDF file is generated of the transaction's collection schedule and is displayed in a new browser window. You can then print the PDF file or save it to your local drive.
Note: This feature requires that Adobe Acrobat Reader is installed on your computer. If you do not have Adobe Acrobat installed, click the icon below to download the free software from Adobe:
Working with Instruments and Transactions