Terms and conditions which are not mentioned in the amendment message remain unchanged.
The cancellation of a documentary credit takes the form of an amendment. The MT 707 must therefore be used.
There are specific fields for amendments to the date of expiry and for loading on board/dispatch/taking in charge, and for increases or decreases in the amount of the documentary credit. All other amendments must be specified in field 79.
When an MT 707 conveys the actual and complete amendment, it is intended to form part of the operative instrument.
When an MT 707 is used to convey only brief details which are not intended to form part of the operative instrument, field 79 must contain the phrase 'DETAILS TO FOLLOW'.
If the amendment contains reimbursement instructions which were not previously indicated in the original credit and unless otherwise specified, reimbursements under the Documentary credit issued are, if applicable, subject to the Uniform Rules for Bank-to-Bank Reimbursements under documentary credits, International Chamber of Commerce, Paris, France, which are in effect on the date of issue. The advising bank, ie, the Receiver of the message, should, where applicable, inform the nominated bank when the reimbursement is subject to ICC URR. In case of a freely negotiable credit this should be done by informing the beneficiary.