letter of credit calls for a wrong Incoterms

What Happens If a Letter of Credit Calls For a Wrong Incoterms?

Daily practice shows us that Incoterms are not used in a correct way as per ICC rules. Exporters and importers frequently use wrong incoterms in...
unclean bill of lading discrepancy

Unclean Bill of Lading Discrepancy

A clean bill of lading is a type of transport document, which bears no clause or notation, which expressly declares a defective condition of...
inspection certificate discrepancies

Inspection Certificate Discrepancies

On this page you can find most common discrepancies related to the inspection certificate, which is issued under a typical letter of credit transaction. Discrepancy...
letter of credit discrepancy example insurance policy

All Originals of Insurance Policies Have Not Been Presented Discrepancy

Marine insurance is a type of commercial liability insurance that provides coverage (financial backing) against perils and losses associated with the transportation of goods. Marine...
container number discepancy

Container Number not in Accordance with the Bill of Lading Discrepancy

Container number is a unique reference number assigned to a freight container so that the container can be traced and tracked by the government...
commercial invoice disrepancy

Commercial Invoice Shows Merchandise Not Called For Discrepancy

A commercial invoice should not indicate goods, services or performance not called for in the credit. As per letter of credit rules and international standard...

Notify Different Than Letter of Credit Discrepancy

Notify party is the institution, to whom the shipping company informs the arrival of the cargo. A transport document covering at least two different modes...
certificate of origin not issued by chamber of commerce discrepancy

Certificate of Origin not Issued by the Chamber of Commerce Discrepancy

The certificate of origin verifies the country in which the goods to be exported were originally manufactured.(1) The issuing body of the certificate of origin could...
multimodal bill of lading discrepancies

Multimodal Bill of Lading Discrepancies

Multimodal transportation is the movement of one unit load from origin to destination by several methods or transportation under one document without breaking up the unit...
insurance document discrepancies

Insurance Document Discrepancies

It is a common practice in the commercial world to insure goods in transit. Briefly, the following reasons compel traders to contract transport insurance: Protection...
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