Request LC Confirmation

Introduction

Corporate User can request for LC confirmation from this screen.

A letter of credit to which a confirming bank adds its pledge to pay in the event of default by the issuing bank (for reasons other than a discrepancy) is known as LC Confirmation. If the confirmation clause of the LC is ‘Confirm’ or ‘May Add’ and advised without confirmation, beneficiary can request the bank to add their confirmation. When added, the confirming bank should inform the issuing bank about the confirmation clause added to the LC. If the confirmation clause of the LC is ‘Without’, beneficiary can request the bank to add their silent confirmation. When added, the confirming bank will not disclose the confirmation of the LC to the issuing bank.

Customer can request for LC Confirmation only if the LC is in ‘Unconfirmed’ or ‘Partially Confirmed’ state. Customer can choose a LC from the list in order to request for confirmation of the LC. Once the details are entered, the Customer can submit the LC confirmation request for further processing. The LC confirmation requests will go for a non-financial workflow.

Navigation

Click Request LC Confirmation in View Advised Letter Of Credit screen.
The Request LC Confirmation screen is displayed.

What you can do

The table below provides a brief description of the data that should be entered on the screen and the functions that can be performed:

Field

Description

CONFIRMATION DETAILS

Note:

All fields in this till 'Latest Shipment Date' are display fields.

LC Number

Optional

The LC number which is selected for confirmation.

Issuing Bank Name

Optional

The name of the bank that issued the LC.

Bank Branch

Optional

The branch that issued the LC.

Bank Address (Line 1-3)

Optional

The address of the name of the branch that issued the LC.

Bank City

Optional

The city code of the bank branch that issued the LC.

Bank State

Optional

The state of the branch that issued the LC.

Zip code

Optional

The zip code of the branch that issued the LC.

Bank Country

Optional

The country of the branch that issued the LC.

LC Currency and Amount

Optional

The LC amount and currency .

Expiry Date

Optional

The LC expiry date.

Latest Shipment Date

Optional

The latest shipment date.

Confirmation Currency and Amount

Mandatory

Alphanumeric / 18 (3)

Enter the amount/portion of the LC which should be confirmed. The currency is default displayed as the LC currency.

Debit Charges From

Mandatory

Drop-down

Select the account from which the charges for transfer should be debited. The list of operative accounts is displayed for user selection.

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Continue	Continue to submit the transaction.
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Field	Description
CONFIRMATION DETAILS Note: All fields in this till 'Latest Shipment Date' are display fields.
LC Number	Optional The LC number which is selected for confirmation.
Issuing Bank Name	Optional The name of the bank that issued the LC.
Bank Branch	Optional The branch that issued the LC.
Bank Address (Line 1-3)	Optional The address of the name of the branch that issued the LC.
Bank City	Optional The city code of the bank branch that issued the LC.
Bank State	Optional The state of the branch that issued the LC.
Zip code	Optional The zip code of the branch that issued the LC.
Bank Country	Optional The country of the branch that issued the LC.
LC Currency and Amount	Optional The LC amount and currency .
Expiry Date	Optional The LC expiry date.
Latest Shipment Date	Optional The latest shipment date.
Confirmation Currency and Amount	Mandatory Alphanumeric / 18 (3) Enter the amount/portion of the LC which should be confirmed. The currency is default displayed as the LC currency.
Debit Charges From	Mandatory Drop-down Select the account from which the charges for transfer should be debited. The list of operative accounts is displayed for user selection.