What are the top 10 discrepancies in letters of credit?
You can eliminating most of discrepancies in a letter of credit presentation if you will understand the top 10 discrepancies in letters of credit. 


Most common discrepancy 8 : Incorrect Description of Goods

  • The description of the goods, services or performance in the invoice must correspond with the description in the credit.
  • The description of goods, services or performance in an invoice must reflect what has actually been shipped or provided.
  • If a trade term is part of the goods description in the credit, or stated in connection with the amount, the invoice must state the trade term specified, and if the description provides the source of the trade term, the same source must be identified (e.g., a credit term “CIF Singapore Incoterms 2000” would not be satisfied by “CIF Singapore Incoterms”).

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