Intro: Many letters of credit require a commercial invoice to be “authenticated by the Chamber of Commerce.” As Chambers of Commerce increasingly issue electronic documents with digital seals and QR codes, a common question arises: does a digitally authenticated invoice satisfy such an L/C requirement? Let’s look at the following Q&A. Question Dear Sir, Good day! We have an LC …

In today’s LC practice, two issues appear repeatedly and often cause confusion for both exporters and bankers. The first is whether an invoice under CIF or CFR must show a cost breakdown, especially the insurance premium. Many presentations include partial breakdowns—or even show freight as zero—raising the question of whether such invoices are compliant when the LC itself is silent. …

QUESTION Hi Sir, Good day. I have read many of your responses that clarify our queries. Thank you so much for sharing your knowledge with us. I request you to clarify the following: 1. The LC states the applicant as ABC Co., Ltd. The invoice is made out to “To the order of ABC Co., Ltd.” Is the above acceptable, …

QUESTION Dear Sir, LC allows both AIR and SEA shipment. Amount: USD 100,000 Shipment by AIR: USD 40,000 Shipment by SEA: USD 60,000 43P: Partial Shipments: ALLOWED 43T: Transshipments: ALLOWED LC Clause states “INVOICE MUST CERTIFY THAT THE MERCHANDISE ARE IN ACCORDANCE WITH PROFORMA INVOICE NO. XXX DATE XXX FOR USD 40,000.00 AND PROFORMA INVOICE NO. YYY DATED YYY FOR …

Q&A quoted from DCPro Discussion Forum 24 August, 2017 QUESTION Is there any requirement (as per UCP 600) to indicate the beneficiary address in the commercial invoice? Shahed ——— ANSWER Hi, Under international banking practice, it is expected that an invoice will include the name and the address of the beneficiary. However, there is no requirement in UCP 600 for …