Join / Sign In
< Back to questions :: Q&A / Regulations/Policies / Bags and Luggage Bags

Amendments to documentary credits

Regulations/Policies
Bags and Luggage Bags
From United Arab Emirates
To Canada
14 views / 0 experts
Oct 15, 2020

Why are amendments to documentary credits referred to the supplier for acceptance?

1 answer

David W.
Not rated
Oct 15, 2020

Documentary credits are irrevocable, that is, they cannot be amended without approval from all parties. A supplier may not be comfortable manufacturing goods to meet a specific order if the documentary credit representing payment for that order could be amended or cancelled without their knowledge or acceptance. Once a documentary credit is issued, it cannot be assumed that amendments can or will be accepted by the supplier.

read more
No comm.

Top Rated Experts

Ashwin Kamath
Ashwin K.
Robert Lockett
Robert L.
Stephanie Duong
Stephanie D.
This website uses cookies. By using this website, you consent to our use of these cookies