Advice of Altering the L/C Issuing Bank




Dear Mike,  





We regret to advise you that our L/C issuing bank, Columbia Bank, had declared bankruptcy this morning (Aug 25, 2008) due to the crisis of the sub-prime mortgage. Therefore, we are forced to transfer our financial business to Citibank branch of Kansas State, inclusive of the issuing of L/C since today.  



The payment term we previously agreed will remain the same. Please kindly notice and cooperate to alter the L/C issuing bank in all the proceeding orders and concerning documents accordingly and kindly do not negotiate with present L/C on your hand. In the meantime, please kindly provide a list sheet of concerning pending orders. The altered L/C of concerning orders will be issued by Citibank branch of Kansas soon. Please kindly porceed the mass production and effect shipment according to the instructions of the altered L/C.  



We deeply apologize for all the inconveniences caused by this matter. Your kind understanding of our awkward situation will be highly appreciated.  





Best Regards,  


Sophia