What are procedures of amending the L／C？
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What are procedures of amending the L/C？
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(1) The seller requests that the buyer make an amendment to the credit. This can be effected by a telephone call, a fax letter, or by face-to-face negotiation.
(2) If the buyer agrees, the buyer orders the issuing bank to issue the amendment.
(3) The issuing bank amends the credit and notifies the advising bank of the proposed amendment.
(4) The advising bank notifies the seller of the amendment.