Dear Experts
I received import documents from China. I am playing role part of issuing bank.
Draft is showing value in words & numbers like: USD 5,106863.92 (FIVE MILLION ONE HUNDRED SIX THOUSAND EIGHT HUNDRED SIXTY THREE AND 92/100 ONLY.
I raised my discrepancy indicating value in words conflicting from value in number.
Kindly suggest your opinion
Brgds
Draft Is Showing Value In Word & Numbers Conflict
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Anurag
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picant
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Ehm......
Hi Pal,
first of all, is the draft required drawn on the issuing bank or applicant?
Only if drawn on applicant, and listed in the documents to be presented, it may be considered
discrepant. If required as mean to obtain the l/c proceeds, even if wrong it could be object of clarification between the involved banks, but not ground for discrepancy.
In your case is the conflict in the position of "comma", probably due to the use of different way to write decimals(e.g. Bangladesh-India). IMHO no discrepancy.
Other comments appreciated.
Ciao
first of all, is the draft required drawn on the issuing bank or applicant?
Only if drawn on applicant, and listed in the documents to be presented, it may be considered
discrepant. If required as mean to obtain the l/c proceeds, even if wrong it could be object of clarification between the involved banks, but not ground for discrepancy.
In your case is the conflict in the position of "comma", probably due to the use of different way to write decimals(e.g. Bangladesh-India). IMHO no discrepancy.
Other comments appreciated.
Ciao
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gegeeee
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No discrepancy
Hi all,
IMHO, it will not be considered as discrepancy, I have seen many unpublished ICC opinions, and conclusions regarding such matters are the same. It is considered as typographical error, so this are not considered as discrepancies.
You should also pay attention what Picant said: "if draft is drawn on applicant, and listed in the documents to be presented, it may be considered discrepant"
Thank you.
IMHO, it will not be considered as discrepancy, I have seen many unpublished ICC opinions, and conclusions regarding such matters are the same. It is considered as typographical error, so this are not considered as discrepancies.
You should also pay attention what Picant said: "if draft is drawn on applicant, and listed in the documents to be presented, it may be considered discrepant"
Thank you.
