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Amendments to DCs are frequently necessary for many reasons e.g. to give the exporter extra time to manufacture or ship the goods, or to instruct the exporter to provide extra documents to comply with new legal requirements in the importer’s country, etc. REVOCABLE DCs can be amended (or cancelled) at any time without reference to the beneficiary. Most exporters refuse revocable DCs for this reason. IRREVOCABLE DCs can only be amended or cancelled by the APPLICANT with the agreement of all other parties to the DC. |
