Amendment Of Pre-Advise Under UCP600

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sayed
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Last Name: SAIDUL ISLAM
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Amendment Of Pre-Advise Under UCP600

Post by sayed » Fri Aug 02, 2013 9:15 am

According to me LC needs to be issued first (in terms of the pre-advise).
Subsequently any amendment would need beneficiary's consent.
Or to save time, applicant may arrange beneficiary's acceptance to amended terms of pre-advise via authenticated means (i.e. by way of swift message from advising bank to issuing bank) to enable issuance of LC with amend-mended terms ab inito.
Any comment appreciated.


Regards
Md. Saidul Islam
EXIM Bank, Dhaka, Bangladesh

hachem
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sub article 11(a)

Post by hachem » Thu Sep 26, 2013 8:56 pm

According to sub article 11(a) of UCP600, the letter of credit should be issued in terms not inconsistent with the letetransmission. So, the issuing bank should, firslty, issue the L/C as previously issued. Secondly, She could issue the amendments as requested by the applicant. In order to save time, the beneficiary should deposit his agreement about the amendments predicted with the applicant.

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