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As an LC issuer ,when you can cancel the LC?

Internal Audit Export Finance Finance
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Question added by Deleted user
Date Posted: 2015/02/18
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Amr Essam
by Amr Essam , Faisal Islamic Bank of Egypt Alexandria and West Delta Head Office Assistant Foreign Departm , Faisal Islamic Bank of Egypt

Only when LC expires, once issued is the issuers commitment. There is only one possible option in the very beginning where you can approach the receiving bank to cancel an LC ; on its discretion can choose not to advice the LC , and save yr life.

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