Top 10 Letter of Credit Discrepancies
Discrepancy can be defined as an error or defect, according to the issuing bank, in the presented documents compared to the documentary credit, the...
Discrepancies
The issuing bank or the confirming bank must pay the credit amount to the beneficiary, when they determine that the presentation is complying.
The complying...
Carrier Not Identified and Bill of Lading Not Signed As Per UCP 600 Discrepancy
Bill of lading is a very important transport document, because it is suppose to evidence of contract of carriage, a receipt of goods by...
Blank Back Bill of Lading Not Acceptable
A Blank Back Bill of Lading, also known as Short Form Bill of Lading, is a type of transport document that does not include...
Correct Addresses of the Beneficiary and the Applicant
When the addresses of the beneficiary and the applicant appear in any stipulated document, they need not be the same as those stated in...
Presentation – Top 10 Letter of Credit Discrepancies
What is a Discrepancy?
There is no definition of a discrepancy under the current letter of credit rules, UCP 600.
Discrepancy can be defined...
Port of Discharge Different Than Letter of Credit Discrepancy
A bill of lading is a generic term for a transport document, that covers transport by sea from a port of loading to a...
Inspection Certificate Not issued and Signed by the Party Required by the Letter of...
Inspection in international trade can be defined as a process of checking the quality of goods against the contractual requirements.
Because, the importer and exporter...
Description of Goods Discrepancy
According to the letter of credit rules and international standard banking practices, the description of the goods, services or performance shown on the commercial...
Incoterms Discrepancy
The Incoterms are a standard set of trade terms used worldwide mostly in international trade. It is also possible to use them in domestic contracts of sale.
The...