2.1.2 Detailed Flow
Existing functionality:
- Currently system does not allow to remove or modify ATB party during amendment.
System enhanced with below changes:
Issuing Bank/Advising Bank:
- Deletion of ATB to be allowed during amendment with/without beneficiary confirmation.
- MT707 SWIFT/Amendment Advice Generation: (During AMNV or AMND based on
Beneficiary Confirmation)
- Receiver
- Issuing Bank:
- MT707 to be sent to ABK.
- Advising Bank:
- MT707 to be sent to ATB during the corresponding amendment of delete ATB.
- Amendment Advice (MAIL) to be sent to BEN, once ATB is removed and confirmed. (On amendments, where ATB is not available, amendment mail advice to be generated to BEN).
- Issuing Bank:
- Deletion of ATB details to be provided in 47B. Details should be input manually. System will display an override “Advise Through Bank Party has been deleted, Additional condition to be provided for advice LC_AMND_INSTR.”
- 57A should not be available in MT707.
- Receiver
- Amendment to delete ATB is initiated and not confirmed then system should not allow further amendments with or without Ben. Error message to be displayed.
- Amendment to delete ATB is rejected, 57A should be available in Subsequent amendments.
Advise Through Bank:
- Cancellation to be allowed during amendment with/without beneficiary confirmation.
- Amendment advice to be sent to Beneficiary on confirmation.
- Existing System – MT707 is generated to ABK, if ABK is present.
- Proposed System – LC_AMND_INSTR Mail advice to be always generated to BEN when cancel request checkbox is enabled during amendment.
- Initiate Cancellation .MT799(LC_CANCEL_ADV) to be sent to ABK (CANC) – Existing System, no changes required.