Phrases Asking for Clarification

If I understand correctly…

Meaning

I believe I understand, but I want to verify.

Translation language

John: 'The report is due tomorrow.'
Alice: '<b>If I understand correctly,</b> we must submit the report by midnight?'
John: '<b>If I understand correctly,</b> we should make some changes and send it again?'
Alice: 'The client wants a revised proposal.'