We sent both LC amendments to the bank yesterday. The bank, however, cannot amend the beneficiary's name and requests canceling the current LC and reissuing a new one. We will process it for you today and we expect that you will receive it next week.What does the portion in red mean?
Please note that the air freight USD260.00 is valid until the end of October. The new rate for Nov is USD300.00 as the fuel rate has increased. Furthermore, due to limited air space, the goods will be on held for 5-6 days before being shipped. So that, we will hold your responsibly for any late penalty from our customer.