Amendment of a transferred credit
Posted: Fri Oct 09, 2009 5:12 pm
Dear All
Will appreciate comments on the below situation.
.
MT-700 issued by ABC Bank which is transferable
Beneficiary – XYZ Limited
Unit price – USD1.00/PC
Total Quantity – 100 PC
DC value – USD100.00
.
DC transferred by EFG Bank through MT-720
Second Bene – IJK Limited
Unit price – USD0.80/PC
Total Quantity – 100 PC
DC value – USD80.00
.
Now the First beneficiary request IJK Bank to amend the DC to increase the value to USD0.90/PC.
.
Does the transferring bank has any right to amend the DC?
.
Regards
Sharif
Will appreciate comments on the below situation.
.
MT-700 issued by ABC Bank which is transferable
Beneficiary – XYZ Limited
Unit price – USD1.00/PC
Total Quantity – 100 PC
DC value – USD100.00
.
DC transferred by EFG Bank through MT-720
Second Bene – IJK Limited
Unit price – USD0.80/PC
Total Quantity – 100 PC
DC value – USD80.00
.
Now the First beneficiary request IJK Bank to amend the DC to increase the value to USD0.90/PC.
.
Does the transferring bank has any right to amend the DC?
.
Regards
Sharif