Uncategorized DESCRIPTION OF GOODS ON INVOICE By Mr Old Man Posted on October 1, 2015 1 min read 3 0 3,277 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr QUESTION Dear Mr. Old Man, I would like to as your opinion on the following case: – Field 45A of a LC requires description of goods as follows: + Commodity: Fabrics . Contract number A, amount: USD50,000.00 . Contract number B, amount: USD25,000.00 – The documents presented including an invoice as follows: + Commodity: Fabrics + Contract number A, B. + Amount: USD45,000.00 Can I raise the discrepancy: Invoice not showing the amount shipped of each contract as LC required? Yours sincerely. HC ——————– ANSWER Hi, According to UCP 600 sub-article 18 (c), the description of goods shown on the invoice is to correspond with the description shown in the LC. Paragraph C4 ISBP 745 says that the description of goods is to reflect what has actually been shipped, delivered or provided. The invoice in question is to be specific with regard to the value of goods shipped under each contract. You can raise such a discrepancy. Kind regards, Mr. Old Man
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?