Amendment 41D:
Posted: Fri Apr 23, 2010 11:39 am
AMENDMENT:
I had received one Ammendment to be done from our client, Stating:
SUBJECT: Amendment on L/C # ABC123456 in favor of M/s.XYZ LIMITED
Reference to the above subject (two) letters of Credit and further to the request of
beneficiary, we would like to request you to arrange the necessary amendments in the
LICs as detailed below;
1) Beneficiary's Banker; " ABC Bank"
Make the LC restricted for negotiation with " ABC Bank" only.
Bank charges for this amendment shall be on beneficiary's account and all other terms
and conditions of the LIe shall remain un-changed.
At the time of L/c issuance,
L/c was advised to ABC BANK
Field 41D: Avaliable with....By...Name&Addr
ANY BANK IN AUSTRIA
BY NEGOTIATION.
After Amemdmment :
NOW AMENDED TO READ AS,
ABC BANK
AUSTRIA
BY NEGOTIATION'
Now question arises:
1.what my be the reason that Advising bank want to be make this change and want the L/c to be available with them only ?
2.Why Beneficiary agree to get it changed since it does not make to much difference to him, beneficiary can present documents to ABC BANK and with also to other banks in AUSTRIA.
![Hmm... :-?](./images/smilies/39.gif)
I had received one Ammendment to be done from our client, Stating:
SUBJECT: Amendment on L/C # ABC123456 in favor of M/s.XYZ LIMITED
Reference to the above subject (two) letters of Credit and further to the request of
beneficiary, we would like to request you to arrange the necessary amendments in the
LICs as detailed below;
1) Beneficiary's Banker; " ABC Bank"
Make the LC restricted for negotiation with " ABC Bank" only.
Bank charges for this amendment shall be on beneficiary's account and all other terms
and conditions of the LIe shall remain un-changed.
At the time of L/c issuance,
L/c was advised to ABC BANK
Field 41D: Avaliable with....By...Name&Addr
ANY BANK IN AUSTRIA
BY NEGOTIATION.
After Amemdmment :
NOW AMENDED TO READ AS,
ABC BANK
AUSTRIA
BY NEGOTIATION'
Now question arises:
1.what my be the reason that Advising bank want to be make this change and want the L/c to be available with them only ?
2.Why Beneficiary agree to get it changed since it does not make to much difference to him, beneficiary can present documents to ABC BANK and with also to other banks in AUSTRIA.
![Hmm... :-?](./images/smilies/39.gif)