Discrepancies in Documents

Discrepancies in Documents refer to specific issues or errors in the presented documents under a letter of credit that do not align with the L/C terms and conditions. These discrepancies must be rectified to secure payment.

Common discrepancies include:

• Missing documents
• Incorrect document details
• Mismatched invoice amounts
• Invalid expiration dates
• Non-compliant shipping terms

For instance, a bill of lading showing a different shipment date than specified in the L/C, or an insurance certificate lacking the required coverage amount, constitutes discrepancies.

Banks identify and notify these discrepancies, requiring rectification for payment approval.