{"id":921,"date":"2018-03-03T10:07:30","date_gmt":"2018-03-03T15:07:30","guid":{"rendered":"http:\/\/www.letterofcredit.biz\/?p=921"},"modified":"2019-04-07T06:01:22","modified_gmt":"2019-04-07T10:01:22","slug":"description-of-goods-on-the-multimodal-bill-of-lading-is-inconsistent-discrepancy","status":"publish","type":"post","link":"https:\/\/www.letterofcredit.biz\/index.php\/2018\/03\/03\/description-of-goods-on-the-multimodal-bill-of-lading-is-inconsistent-discrepancy\/","title":{"rendered":"Description of Goods on the Multimodal Bill of Lading is Inconsistent Discrepancy"},"content":{"rendered":"<p>According to the letter of credit rules, the commercial invoice must contain a description of goods, which corresponds to that indicated in the credit.<\/p>\n<p>Other documents may or may not contain a description of goods.<\/p>\n<p>If a document other than the commercial invoice, such as a bill of lading, packing list, certificate of origin, multimodal bill of lading etc., bears a description of goods, this should be in general terms but not inconsistent with that shown in the credit.<\/p>\n<p>What everyone needs to know about the description of goods on a multimodal bill of lading is that the description of goods on a multimodal bill of lading can be indicated in general terms as long as it is not inconsistent with other documents and the letter of credit itself.<\/p>\n<p>If the issuing bank finds out that the description of goods on the multimodal bill of lading is inconsistent with the\u00a0letter of credit terms, then the issuing bank will issue a discrepancy, which is known as inconsistent description of goods.<\/p>\n<h4><strong>Letter of Credit Discrepancy Example: Description of Goods is Inconsistent on the Multimodal Bill of Lading<\/strong><\/h4>\n<p>A letter of credit has been issued in SWIFT format, subject to UCP Latest Version, with the following details:<\/p>\n<p style=\"text-align: center;\"><span class=\"td_text_highlight_marker_blue td_text_highlight_marker\"><strong>Letter of Credit Conditions<\/strong><\/span><\/p>\n<p><strong>Field 45-A: Description of Goods:<\/strong> Cocoa Powder (PCPN)<\/p>\n<p><strong>Field 46A: Documents Required:<\/strong> Full set of multimodal or combined transport document however named consigned to the order of Belfius Bank SA, notify applicant showing freight prepaid.<\/p>\n<p>The beneficiary presented a multimodal bill of lading with the following data:<\/p>\n<p style=\"text-align: center;\"><span class=\"td_text_highlight_marker_pink td_text_highlight_marker\"><strong>Multimodal Bill of Lading<\/strong><\/span><\/p>\n<p><strong>Description of Goods:<\/strong> Second Quality Cocoa Powder<\/p>\n<p><strong>Discrepancy:<\/strong> Multimodal bill of lading shows a description of goods inconsistent with the letter of credit and other documents.<\/p>\n<p><a href=\"http:\/\/www.letterofcredit.biz\/wp-content\/uploads\/description-of-goods-multimodal-billoflading-discrepancy.png\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-927\" src=\"http:\/\/www.letterofcredit.biz\/wp-content\/uploads\/description-of-goods-multimodal-billoflading-discrepancy.png\" alt=\"Letter of Credit Discrepancy Example: Description of Goods is Inconsistent on the Multimodal Bill of Lading\" width=\"521\" height=\"248\" srcset=\"https:\/\/www.letterofcredit.biz\/wp-content\/uploads\/description-of-goods-multimodal-billoflading-discrepancy.png 521w, https:\/\/www.letterofcredit.biz\/wp-content\/uploads\/description-of-goods-multimodal-billoflading-discrepancy-300x143.png 300w\" sizes=\"(max-width: 521px) 100vw, 521px\" \/><\/a><\/p>\n<p><strong>Reason for Discrepancy:<\/strong> Description of goods on the multimodal transport document may be shown in general terms not in conflict with that stated in the credit.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the letter of credit rules, the commercial invoice must contain a description of goods, which corresponds to that indicated in the credit. Other documents may or may not contain a description of goods. If a document other than<\/p>\n","protected":false},"author":1,"featured_media":930,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83,85],"tags":[129,130,144,145],"class_list":["post-921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-letter-of-credit-discrepancies","category-multimodal-bill-of-lading-discrepancies","tag-description-of-goods","tag-description-of-goods-discrepancy","tag-multimodal-bill-of-lading","tag-multimodal-bill-of-lading-discrepancy"],"_links":{"self":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/posts\/921","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=921"}],"version-history":[{"count":0,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/posts\/921\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/media\/930"}],"wp:attachment":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/media?parent=921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/categories?post=921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/tags?post=921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}