LC discrepancies

[Taher]

Hello friends


I have submitted an LC presentation which was rejected by the back due to three discrepancies. I have managed to resolve one but still left with two. Could you please answer the following:

1. Can the nominated accept these discrepancies and make the payment without consulting the issuing bank ? Would it be reasonable for me to ask the bank to accept these discrepancies and honour my presentation considering the discrepancies are minor ?

2. if the bank refuses, can I ask for the documents to be returned abd is it possible to submit another presentation using the same documents , after , of course, picking up the discrepancies?

3. The bank has asked me to either send replacement documents within the 5 day presentation period or instruct them to contact the issuing bank to authorise payment. Considering 4 days have already gone , is it worth asking for payment authority from the issue bank or I’m better off asking the bank to return the documents so I can correct discrepancies and submit the documents again within the allowed 21 days?

[picant]

Hi Pal,

representation is always possible under respect of l/c terms.
There are not minor discrepancies, but some mistakes could be accepted as per ISBP 745.
So, clarify the discrepancies and review them with ISBP-
Ciao