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Dear experts,

Based on ICC, issuing bank can determine whether accept applicant's waiver or not regarding document's discrepancies. But what if applicant refuse to pay because the document has discrepancies, can issuing bank waive or approve the discrepancies? If yes, does the applicant still have to pay? And what are some examples of cases that made that possible?

Thank you

Hi Pal,

a bank must heve a way out, to escape from its undertaking, specialy when there is a possible applicant's default.
A bank, having already accepted the documents, if they result discrepant and applicant disputes , the bank has a problem, but this happens seldom. However the applicant may sue the bank in this case.
IMHO, this is not advisable||||||
ciao