{"id":754,"date":"2018-02-09T01:41:05","date_gmt":"2018-02-09T06:41:05","guid":{"rendered":"http:\/\/www.letterofcredit.biz\/?p=754"},"modified":"2019-04-07T06:02:44","modified_gmt":"2019-04-07T10:02:44","slug":"origin-of-goods-inconsistent-with-the-letter-of-credit-discrepancy","status":"publish","type":"post","link":"https:\/\/www.letterofcredit.biz\/index.php\/2018\/02\/09\/origin-of-goods-inconsistent-with-the-letter-of-credit-discrepancy\/","title":{"rendered":"Origin of Goods Inconsistent with the Letter of Credit Discrepancy"},"content":{"rendered":"<p>A certificate of origin should certify the origin of the goods.<\/p>\n<p>When a letter of credit indicates the origin of the goods and requesting presentation of a certificate of origin, any reference to the origin of goods on the certificate of origin or another document, is not to conflict with the stated origin.<\/p>\n<p>For example, when a letter of credit indicates \u201corigin of the goods: Japan\u201d, a certificate of origin or a statement on any stipulated document indicating a different origin of the goods is to be considered a conflict of data, discrepancy.<\/p>\n<p>As per letter of credit rules and international standard banking practices a certificate of origin must certify the origin of the goods as indicated in the letter of credit.<\/p>\n<p>If the issuing bank determines that the certificate of origin is not reflecting correct origin of goods, then the issuing bank raises a discrepancy, which is known as origin of goods inconsistent with the letter of credit.<\/p>\n<h4><span style=\"color: #000000;\"><strong>Discrepancy Example: Origin of Goods Inconsistent with the Letter of Credit<\/strong><\/span><\/h4>\n<p>A letter of credit has been issued in SWIFT format, subject to UCPURR latest version, with the following details:<\/p>\n<p style=\"text-align: center;\"><span class=\"td_text_highlight_marker_red td_text_highlight_marker\"><strong>Letter of Credit Conditions<\/strong><\/span><\/p>\n<p><strong>Field 45A: Description of Goods and or Services: <\/strong><\/p>\n<p>Aluminum Round Bars 15000 kgs. Delivery Terms: FOB Port of Jebel Ali, Dubai, UAE Incoterms 2010.<\/p>\n<p><strong>Field 46A: Documents Required:<\/strong><\/p>\n<ul>\n<li>Duplicates of signed and stamped commercial invoices issued by the beneficiary stating this letter of credit number.<\/li>\n<li>Certificate of Origin in 1 original and 2 copies issued by any chamber of commerce stating that goods are of <span style=\"color: #ff6600;\"><strong>United Arab Emirates<\/strong><\/span> <strong><span style=\"color: #ff6600;\">origin<\/span><\/strong>.<\/li>\n<li>Full set of original bill of lading clean shipped on board established to the order of issuing bank notify applicant marked freight collect.<\/li>\n<\/ul>\n<p>The beneficiary presented a Certificate of Origin as shown on the below picture.<\/p>\n<p style=\"text-align: center;\"><span class=\"td_text_highlight_marker_pink td_text_highlight_marker\"><strong>Certificate of Origin<\/strong><\/span><\/p>\n<p><a href=\"http:\/\/www.letterofcredit.biz\/wp-content\/uploads\/certificate-of-origin-wrong-origin-of-goods.png\"><img decoding=\"async\" class=\" td-modal-image aligncenter wp-image-758 size-full\" src=\"http:\/\/www.letterofcredit.biz\/wp-content\/uploads\/certificate-of-origin-wrong-origin-of-goods.png\" alt=\"certificate of origin example of wrong country of origin discrepancy\" width=\"554\" height=\"775\" srcset=\"https:\/\/www.letterofcredit.biz\/wp-content\/uploads\/certificate-of-origin-wrong-origin-of-goods.png 554w, https:\/\/www.letterofcredit.biz\/wp-content\/uploads\/certificate-of-origin-wrong-origin-of-goods-214x300.png 214w, https:\/\/www.letterofcredit.biz\/wp-content\/uploads\/certificate-of-origin-wrong-origin-of-goods-300x420.png 300w\" sizes=\"(max-width: 554px) 100vw, 554px\" \/><\/a><\/p>\n<p><strong>Discrepancy:<\/strong> Certificate of origin should have shown that the goods are of United Arab Emirates origin, but the certificate of origin shows that the goods are Turkish origin, which is a clear discrepancy.<\/p>\n<p><strong>Reason for Discrepancy:<\/strong> A certificate of origin should certify the origin of the goods as indicated in the letter of credit.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A certificate of origin should certify the origin of the goods. When a letter of credit indicates the origin of the goods and requesting presentation of a certificate of origin, any reference to the origin of goods on the certificate<\/p>\n","protected":false},"author":1,"featured_media":760,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[99,83],"tags":[135,136,84,138],"class_list":["post-754","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-certificate-of-origin-discrepancies","category-letter-of-credit-discrepancies","tag-certificate-of-origin","tag-certificate-of-origin-discrepancies","tag-letter-of-credit-discrepancies","tag-origin-of-goods"],"_links":{"self":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/posts\/754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/comments?post=754"}],"version-history":[{"count":0,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/posts\/754\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/media\/760"}],"wp:attachment":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/media?parent=754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/categories?post=754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/tags?post=754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}