Advising, forwarding, Amending L/C through correspondent banks
(Updated at 14:48, 11/8/2010)

Agribank provides services including L/C advice, L/C forward and L/C amendment through its correspondent banks. The services apply to financial institutions licensed to carry out international payments

Main features:

 

-          L/C is issued by domestic or foreign financial institutions which have correspondent banking relationship with Agribank.

-          Agribank is the first advising bank and forwarding or amending L/C received from correspondent banks.

-          As the bank recieves L/C or amendment: Correspondent Banking Division of Agribank Operations Centre authenticates the message (if via SWIFT); checks the test key and the authorized signatures (if via mail) on the advised or amended L/C before advising and forwarding to the financial institution.

-          Agribank will not be responsible for the content of the advised or amended L/C.

-          Agribank will refuse to advise and forward an L/C if:

o        Cannot determine whether the advised or amended L/C is true on its face or cannot determine which financial institution received or amended the L/C.

o        L/C Amendment that Agribank did not advise the original L/C or receive L/C amendment after Agribank has dispatched payment documents.

 

Fees: Current terms and conditions of Agribank (see here)

 

Payment method: transfer

 

L/C Advising tools: EMS/SWIFT

 

Distribution channel:

 

-          Directly register with Agribank Operations Centre or Planning Department at Head Office

 

Procedure/Technology

 

-          Within 01 banking day since the bank received L/C, L/C amendment, Agribank will authenticate and forward that L/C to the financial institution via SWIFT/EMS after fee deduction.

Applied at Operations Centre of Agribank
Updated at
Applied at Agribank Operations Centre