【正文】
clauses of L/C because of the changing situation. Chinese Back Procedures of modification The modification ought to be applied by the applicant, and takes effect after the agreement of the opening bank and the beneficiary. ( 1) the applicant submit the application of amendment to the opening bank, 。 ( see form91) ( 2) the opening bank sends modification to the original notifying bank after examining the application, and this modification is irrevocable.( see form 92) Chinese Back ( 3) After receiving the modification, the notifying bank examines its surface authenticity and transmit it to the beneficiary. ( 4) The notifying procedure of modification is similar to that of the L/C. The notification should indicate: “please write back to our bank whether the modification is accepted ”. If the beneficiary doesn’t accept the modification, he ought to return it to the notifying bank as soon as possible, so that the notifying bank can pass on the information to the opening bank. ( see form 93) Chinese Back ( 5) The modification es into effect after the beneficiary accepts it. If the beneficiary rejects it and returns it to the notifying bank with documents showing his rejection, the modification is invalid. The beneficiary’s acceptance or rejection of the modification will result in postponing submission of documents. Chinese Back