Best Trade Solution

The LC states "PLUS AND MINUS 5 PCT TOLERANCE ON QUANTITY AND VALUE ARE
ACCEPTABLE.". Is this correct.

Should it not read as PLUS OR MINUS?

Please help me to understand the clause in the LC is correct.

Hi Pal,

it is evident that 5% tolerance will apply plus or minus, but in acknowledging receipt of l/c , you may state that the correct
meaning is plus or minus. However the issuing bank is responsable for any ambiguos word in its l/c.
Othercomments appreciated
Ciao

Agreed sir.. But when the docs are presented bene has the right to ship BOTH plus and minus tolerance right?

Hi friend,

You are right that the correct wording should be "...plus or minus...". However, it will be too absurd to apply both puls and minus tolerance under the same LC ( for instance while applying plus tolerance for LC value, to apply negative to quantity). If I were beneficiary's bank, as picant already said, I would write in MT730 "we understand tolerance to be applied ....plus or minus". No need to ask for an amendment.

regards

Hi,
I think we can understand that is mistyping of issuing bank. If your bank wants it more clearly,
It should need confirmation from the issuing bank. However, i can not imagine how beneficiary can ship both more and less at the same time.

Hi friend,
I think you can read as PLUS OR MINUS and no need to ask for amendment