The 'Request of Amendment' refers to the Import L/C Amendment request with detrimental changes(such as amount, Expiry & Liability date, Beneficiary and delivery details) that are made to the terms and conditions of the existing Import L/C contract. The changes are detrimental to the beneficiary and hence an acknowledgement is needed from him (acceptance/rejection) for the amendment to become effective.
When an amendment request is sent to one of the parties in advance, this request is made through the Request of Amendment (LITRAM) transaction. Amendments captured here are saved in an auto-registration for the amendment. If the amendment is to be finalized, the auto registration is retrieved and the Amending transaction is saved.
If a limit check is to be performed before the change, this is done using the Liability Approval for Amendment (LITAMR).
If an incoming message containing an amendment request (e.g. SWIFT MT707) is picked up, the corresponding free text contained in the transaction is copied to the CONTAG79 field. The text is not changed and remains the same as the text in the incoming message.
The Narrative (NARTXT) field compiles the changes that will comprise the outgoing message. The contents of CONTAG79 form the basis for this field and this text can be edited for the outgoing message. In particular, changes made to long text fields (e.g. descriptions of goods) are normally made in CONTAG79.
To facilitate this, the application provides text fields to allow amendments to be assigned to the relevant original texts.
To do Request of Amendment for an existing Import L/C contract, LITRAM transaction is used.
Select it from the menu item[Import Products -> Import L/C -> Amendment -> Request of Amendment].
When you have made your changes, click on the ( ) Save function to save all the the data entered in the transaction to the database.