Incorrect Commission Calculation For Existing LC Amount When Tenor And Amount Is Amended (Doc ID 3005183.1)

Last updated on FEBRUARY 22, 2024

Applies to:

Symptoms

ACTUAL BEHAVIOR
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The amendment commission calculated for existing LC amount when the tenor of the LC contract is amended.

When we change the tenor of LC from 60 to 90 days the commission calculated is as per tire of 60 days instead of 90 days for existing LC amount

The commission calculation is as per below slab

30 days 0.5% min k50
60 0.7% min k50
90 0.9% min k50
Over 90 1% min k50

STEPS
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The issue can be reproduced at will with the following steps:
1. Book LC Contract using LCDTRONL
2. Save and Authorize the LC Contract.
3. Perform LC Amendment using LCDAMEND
4. Extend the tenor of the LC. Save and Authorize the LC
5. Commission is not recalculated

Cause

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