Amendment charges
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- Posts: 62
- Joined: Sat Dec 06, 2008 5:39 pm
Amendment charges
A LC says that all charges outside our counter are on beneficiary’s account. After few days an amendment was issued which says that “this amendment charges, including ours, is on beneficiary account. Can the issuing bank do this?
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- Posts: 56
- Joined: Sat Jun 20, 2009 3:01 pm
- First Name: Hafizur
- Last Name: Rahman
- Organization: Southeast Bank Ltd
- Filter: Two Plus Two =: 4
- Location: Dhaka
amendment charges
Hi,
Yes, issuing bank can do this. Because, the beneficiary still have the right to refuse the amendment.
If the bene refuses, the LC shall be unamended.
Usually, when the amendment (in addition to this point) is required only for the lapses/requirement of Beneficiary, this type of condition is imposed.
Regards
bdesh
Yes, issuing bank can do this. Because, the beneficiary still have the right to refuse the amendment.
If the bene refuses, the LC shall be unamended.
Usually, when the amendment (in addition to this point) is required only for the lapses/requirement of Beneficiary, this type of condition is imposed.
Regards
bdesh