5) ACB bank issued a L/C which value was 650,000 USD and was confirmed by VCB bank. The L/C is available by at sight payment in Issuing bank. After that, the Importer, the Exporter and the Issuing bank negotiated and agreed to amend the value of L/C from 650,000 USD to 700,000 USD. This amendment was also agreed by VCB but this bank didn’t confirm for the added value of the L/C.
When the benificery sent the document to ACB bank for the payment, ACB bank was unable to pay the money because of bankruptcy. Then, he sent the document to the Confirming bank – VCB to requested the payment.
How much money did the benificery receive from VCB bank?