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The Amend Outgoing Standby Letter of Credit page allows you to enter information for a Standby Letter of Credit amend transaction.
Different action buttons appear on the page (Attach a Document, Save, Save & Close, Verify Data, 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 Outgoing Standby Letter of Credit page includes the following sections:
· Returned By Bank Reasons (displays conditionally)
· Terms
· Amendment Application Form (displays conditionally)
The Rejected Reasons section of the Amend Outgoing Standby LC 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 Outgoing Standby Letter of Credit page contains basic information about the Standby Letter of Credit amend transaction. The fields and controls contained in the Terms section are described below.
Field/Control |
Description |
Applicant's Reference Number |
Your reference number for the instrument. This field displays the applicant's reference number in read-only form. |
Applicant’s Name |
The applicant’s name is displayed for information in read-only form. This is the name of the current applicant of the standby LC instrument based on the last transaction processed by the bank. |
LC Amount |
The outstanding balance of the instrument, in read-only form, with the currency indicated before the amount. To enter a new LC amount, select Increase By or Decrease By the radio buttons in this area, enter a dollar amount in the amount field, and press Calculate New Amount. |
New LC Amount |
Displays the new LC amount, based on the original LC amount and whether you selected Increase By or Decrease By the radio buttons in the LC Amount area. |
New Amount Tolerance |
The amount tolerance of the transaction. This is the percentage amount that the instrument can be over- or under drawn. You can type up to 3 characters into each percentage field (+ and -). |
Current Expiry Date |
The current expiry date is displayed for information in read-only form. This is the date on which the standby LC instrument currently expires based on the last transaction processed by the bank. |
New Expiry Date |
The date that the transaction expires. To enter the expiry date, select a day, month, and year from the appropriate calendar pop-up. An expiry date selection is required. |
[additional Amendment Details] |
The additional Amendment Details 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 text area can contain up to1000 characters. |
The Instructions to Bank section of the Amend Outgoing Standby Letter of Credit page contains instructions to your bank for the Standby 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 Amend Outgoing Standby 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