Amending Letter of Credit

It depends on many factors.

- The bank; if it is Islamic or conventional.

- The L/C; it is cash L/C or credit L/C?

- The kind of amendment required: Is it simply extension of L/C expiry, extension of last date of shipment or change in requirement of documentation or is it an increase in the L/C value which may require further approval if it is credit L/C.? Normally, with proper documentation; it doesn't take more than three working days.

2 to 3 days by wire, max 1 week.

there are three important dates in an LC, the expiry date which is the specified time frame in which the seller must able to perform all tasks specified and documents required in the LC including ammendments. Shipment Date or Bill of Lading Date and the Date the documents must be presented in the bank.if an ammendment is necessary, a correction is allowed if it can be done quickly while remaining in the control of the bank.

IMHO

cheers

normally it takes a week..

It depends upon you relationship with the bank. They can do it in one day, if they want to.