Table of Contents
Amending
Transaction RMTAME
This transaction is used when the reimbursing bank receives an amendment to the original reimbursement authorization from the issuing bank.
An amendment to the reimbursement authorization can become necessary when the letter of credit has been amended in such way that the changes also affect the reimbursement authorization, such as an amendment of the L/C amount.
On the “Overview” Panel, a checkbox determines whether the contract is “subject to Article 7 of the Uniform Rules of Bank-to-Bank Reimbursements under Documentary Credits”, or not. The information is stored in the database and is available for reimbursement claims. The checkbox can only be checked if the option 'URR Latest Version' is set in combobox “Applicable Rules” (in this case the checkbox will be checked automatically).
If the checkbox is unchecked (contract is not subject to Article 7 of URR (Latest Version), the expiry date of the reimbursement authorization must be entered. Receipt of a reimbursement claim after expiry can only be honored given the appropriate authorization from the issuing bank.
If the checkbox is checked (contract is subject to Article 7 of URR (Latest Version)), the expiry date does not have to be take into account as the reimbursement instructions are still valid, even beyond the expiry date has passed.
An amendment of a reimbursement authorization can be sent as a MT 747 message from the issuing bank to the reimbursement bank.
Any changes to amounts can be carried out in this transaction, whether the reimbursement contract is confirmed or not.
Requirements
An existing Reimbursement contract which is open and not closed.
The number of amendments must be less than 999.
Incoming Messages
| Channel | Description | MT | Description | Comment |
|---|---|---|---|---|
| S | SWIFT | 747 | Amend Authorization to Reimburse |
For incoming allNETT / RIVO messages see Overview of Incoming messages - allNETT / RIVO.
Transaction Control
Fees
None
Commissions
Results of this Transaction
Diaries
For more information see TRNDIA Diaries.
| Action | Description | Diary | Follow-up Transaction | Comment |
|---|---|---|---|---|
| Replace | Undertaking expired (Reimbursement) | Validity | Closing | If “Validity” is filled. |
| Replace | Not Article 7 URR, Reimb. Auth. expired | New Expiry Date | Closing | If “Validity” is not filled and if “Contract Underlying Article 7 of URR (Latest Version)” is checked |
| Replace | Authorization expired (Reimbursement) | New Expiry Date + 10 Working Days | Closing | If “Validity” is not filled and if “Contract Underlying Article 7 of URR (Latest Version)” is not checked |
Updating/Storing of Amounts (CBS)
Liability (LIA)
The liability booked under the contract is increase/reduced by the amended amount.
Outgoing Correspondence
Details on creation of messages can be found under DOCEOT Messages. For outgoing allNETT / RIVO messages see Overview of Outgoing messages - allNETT / RIVO.
| Name of Message | Receiver | Message ID | SWIFT | TCO | DTA/DTE | Comment |
|---|---|---|---|---|---|---|
| Acknowledgment of Amendment | Issuing Bank | RMTISSL1 | 730 | |||
| Information about Amendment | Claming Bank | RMTCLBL1 |
Release
Source in Transaction
Transaction Panels
Amendment
Overview
Narrative
Additional Amount
Details
Parties
Liability
Settlement Details
Settlement
Bookings
Cash Cover
DTAEA Fields
DTALC Fields
Completion
Incoming Tag 72/79
Messages
Compliance
Attachments
Fee Conditions
DTAG Fields
Amendment
Datafields
| Datafield | Description |
|---|---|
| Own Reference | cf Appendix A, Table RMD field OWNREF |
| Amendment Date | This field specifies the date on which the relevant party considers the contract to be amended. |
| Number of Amendments | cf Appendix A, Table RMD field AMENBR |
| Opening Date | cf Appendix A, Table RMD field OPNDAT |
| Currency | cf Appendix A, Table CBB field CUR |
| Nominal Amount | cf Appendix A, Table CBB field AMT |
| Amount Tolerance - Positive | cf Appendix A, Table RMD field NOMTOP |
| Amount Tolerance - Negative | cf Appendix A, Table RMD field NOMTON |
| Currency | cf Appendix A, Table CBB field CUR |
| Maximum Amount | cf Appendix A, Table CBB field AMT |
| Amendment Amount | This field contains the amendment amount of the contract. |
| New Nominal Amount | This field contains the new nominal amount. This is calculated by adding the amendment amount to the old nominal amount. |
| New Positive Tolerance | This field specifies the new positive percentage tolerance for the documentary credit. In order to calculate the new maximum amount, the positive tolerance amount is added to the new nominal amount. |
| New Negative Tolerance | This field specifies the new negative percentage tolerance for the documentary credit. |
| Amount Specification (Amendment) | This field further qualifies the documentary credit amount. |
| Expiry date (Amendment) | This field contains the new (amended) expiry date of the L/C. |
| Date of Expiry | cf Appendix A, Table RMD field EXPDAT |
| Additional amount covered (Amendment) | This field specifies any amendments to the additional amount covered, such as insurance, freight, interest etc. |
| Additional Amount Flag | This flag controls the storage of an additional amount for a contract. Unchecking this flag automatically eliminates existing additional amounts when the transaction is saved. To introduce additional amounts this flag first has to be checked. |
| Additional Amount | This field holds the new additional amount if the amount has changed. When the transaction is saved, additional amounts are adjusted to this amount. |
| Generate Amendment Message | If checked, the current transaction generates an outgoing amendment message. If an amendment message has been generated in an xxxRAM transaction, the corresponding xxxAME transaction will no longer generate an outgoing amendment message. In this case, when the transaction starts the field is not filled. |
Overview
Datafields
| Datafield | Description |
|---|---|
| Responsible User | cf Appendix A, Table RMD field OWNUSR |
| Reserved Contract | cf Appendix A, Table RMD field RESFLG |
| Nominal Reimbursement Amount | cf Appendix A, Table CBB field AMT |
| Direct rejection | cf Appendix A, Table RMD field REJFLG |
| Additional Amount | If this box is checked, additional amounts are available under the contract and an additional panel is available to enter details. |
| Amount Specification | cf Appendix A, Table RMD field NOMSPC |
| Amount Tolerance - Positive | cf Appendix A, Table RMD field NOMTOP |
| Amount Tolerance - Negative | cf Appendix A, Table RMD field NOMTON |
| Currency | cf Appendix A, Table CBB field CUR |
| Maximum Reimbursement Amount | cf Appendix A, Table CBB field AMT |
| Date of Expiry | cf Appendix A, Table RMD field EXPDAT |
| Place of Expiry | cf Appendix A, Table RMD field EXPPLC |
| Contract Underlying Article 7 of URR (Latest Version) | cf Appendix A, Table RMD field ERAFLG |