Presentation – Top 10 Letter of Credit Discrepancies

Most frequently seen letter of credit discrepancies...

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4. Most Common Discrepancy 1: Inconsistency in Documents

  • Data on each document presented under a letter of credit must be consistent to each other.
  • UCP 600 states that “Data in a document, when read in context with the credit, the document itself and international standard banking practice, need not be identical to, but must not conflict with, data in that document, any other stipulated document or the credit.”
Data on each document presented under a letter of credit must be consistent to each other. UCP 600 states that "Data in a document, when read in context with the credit, the document itself and international standard banking practice, need not be identical to, but must not conflict with, data in that document, any other stipulated document or the credit.”