NavigateERP for African business

Close or cancel an LC

Release the margin left; cancel what was not used.

Steps

  1. Close once every presentation is settled or refused: the margin left is released to the account, the unused balance cancelled.
  2. Cancel an LC not yet opened - or an open one nothing was drawn on (the bank agreed).

Good to know

  • A charge, or a margin deposit still held, can be voided: its journal is reversed.