14.2.3 CLOS: Closure of an LC / Guarantee

Liability

Table 14-26 Accounting Entries

Role	Amount Tag	Dr/Cr
LC_OCU	LIAB_OS_AMT	Cr
LC_OCU_OFFSET	LIAB_OS_AMT	Dr
LC_OCU	ADV_LIAB_OS_AMT	Cr
LC_OCU_OFFSET	ADV_LIAB_OS_AMT	Dr
LC_CNF	CNF_LIAB_OS_AMT	Cr
LC_CNF_OFFSET	CNF_LIAB_OS_AMT	Dr

Table 14-27 Accounting Entries

Role	Amount Tag	Dr/Cr
COLL_CUST_ACC	COLLAMT_OS_S01	Cr
COLL_CUST_ACC	COLLAMT_OS_S02	Cr
LC_COLL_ACCT	COLLAMT_OSEQ	Dr

Collateral

Booking (From Customer Account)

Table 14-28 Accounting Entries

Role	Amount Tag	Dr/Cr
COLL_CUST_ACC	COLLAMT_OS	Cr
LC_COLL_ACCT	COLLAMT_OSEQ	Dr

Booking (From Customer and OBP account)

Table 14-29 Accounting Entries

Role	Amount Tag	Dr/Cr
LCCOLL_INT_ACCT	COLLAMT_OS	Dr
COLL_CUST_ACC	COLLAMT_OSEQ	Cr
LCCOLL_INT_ACCT	COLLAMT_OS_OBP	Dr
COLL_OBP_ACC	COLLAMT_OSEQ_OBP	Cr

When the Export LC is closed, the amount will be reduced proportionately from Confirmed portion and Unconfirmed portion.

Table 14-30 Accounting Entries

Dr/Cr	Account role code	Amount Tag	LCY Amount Description
Dr	LC_OCU_OFFSET(Unutilized Credit Offset)	UCNF_LIAB_OS_AMT	Unconfirmed LC Amount
Cr	LC_OCU(Outstanding Credit Unutilized)	UCNF_LIAB_OS_AMT	Unconfirmed LC Amount
Dr	LC_CNF_OFF(Confirmation of LC Offset)	CNF_LIAB_OS_AMT	Confirmed LC Amount
Cr	LC_CNF (Confirmation of LC)	CNF_LIAB_OS_AMT	Confirmed LC Amount