In a letter of credit transaction, the gross weight must show the same value on all presented documents.
As an example, the gross weight on the bill of lading must not conflict with the gross weight stated on the packing list, weight list or any other document.
According to the letter of credit rules, a data in a document, when read in context with the credit, the document itself and international standard banking practice, need not be identical to, but must not conflict with, data in that document, any other stipulated document or the credit.
If the issuing bank finds out that the gross weight on bill of lading and packing list do not match, then the issuing bank will raise a discrepancy, which is known as the gross weight is different on the bill of lading than the gross weight stated on the packing list.
Discrepancy Example: Gross Weight is Different on the Bill of Lading Than the Gross Weight Stated on the Packing List under a Letter of Credit:
A letter of credit has been issued in SWIFT format, subject to UCP latest version, with the following details:
Letter of Credit Conditions
Field 43P: Partial Shipments: Allowed
Field 43T: Transhipment: Allowed
Field 45-A: Description of Goods: 24,000,00 KGS Textile Dyeing Chemicals
Field 46A: Documents Required:
- Full set of original bill of lading laden on board marked freight collect made out to the order of Citibank, USA notify applicant.
- Packing list one original and one copy.
- Commercial invoice in three originals.
The beneficiary presented a bill of lading and a packing list among other documents with the following data:
Discrepancy: Gross weight on the bill of lading and packing list is inconsistent.
Reason for Discrepancy: Data in a document, when read in context with the credit, the document itself and international standard banking practice, need not be identical to, but must not conflict with, data in that document, any other stipulated document or the credit.
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