Mr Old Man Payment Q&A CAN DECIMALS ON AN INVOICE AND DRAFT BE ROUNDED ? By Mr Old Man Posted on 23 hours ago 2 min read 0 0 13 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr QUESTION Dear Sir How are you doing? If we show a round off figure of $625,000.00 instead of $ 625,000.05, Will it be a Discrepancy. The calculation is as below. Unit Price: USD 41,666.67 Qty: 15 Total = USD 41,666.67 x 15 = USD 625,000.05 But, if we show $ 625,000.00 in the Invoice and Draft, Will it be a Discrepancy? Kindly also provide the relevant clause from ISBP supporting this. Regards Mike —– ANSWER Hi, According to ISBP 821 paragraph A22, when the presented documents indicate mathematical calculations, banks only determine that the stated total in respect of criteria such as amount, quantity, weight or number of packages, does not conflict with the LC or any other stipulated document. Therefore, the amount of the invoice presented should be the same as that on the draft, i.e., USD 625,000.00, which is within the permitted LC amount. I remember when answering a question regarding the discrepancy “invoice showing value of goods not equal to quantity multiple with unit price”, ICC also relied on ISBP paragraph A22 to state that banks will not perform calculations. As such the rounding down of an invoice value is acceptable. Best regards, Mr. Old Man