Is there discrepancy?

The forum is dedicated to all who deals with LCs. Please share your experiences, problems and opinions with us. You are requested to be confined to LC related issues only. Let us together discover the beauty of Letter of Credit. Thank and regards – admin; besttradesolution.com
Post Reply
vivian
Posts: 50
Joined: Thu May 14, 2009 2:55 pm
First Name: vivian
Last Name: zhao
Organization: banking
Filter: Two Plus Two =: 4

Is there discrepancy?

Post by vivian » Sat Apr 10, 2010 8:01 am

Issuing bank send a MT707 on 5 Aug,

Before: L/C amount: USD8000.00
Latest shipment date: 1 July,

After : L/C amount: USD6000.00
New latest shipment date: 5 July

At the same day , beneficiary present docs, and Invoice show amt is USD8000.00, B/L date is 1 July, is this a discrepancy?
Or , at the dame day, beneficiary present docs , and invoice show amt is USD6000.00 B/L date is 5 July , is this a discrepancy?

Which one is a discrepancy?

tks
vivian

yangkenn
Posts: 25
Joined: Wed Apr 07, 2010 1:39 am
First Name: yang
Last Name: kenn
Organization: btmu
Filter: Two Plus Two =: 4

not a discrepancy

Post by yangkenn » Sat Apr 10, 2010 12:11 pm

vivian wrote:Issuing bank send a MT707 on 5 Aug,

Before: L/C amount: USD8000.00
Latest shipment date: 1 July,

After : L/C amount: USD6000.00
New latest shipment date: 5 July

At the same day , beneficiary present docs, and Invoice show amt is USD8000.00, B/L date is 1 July, is this a discrepancy?
Or , at the dame day, beneficiary present docs , and invoice show amt is USD6000.00 B/L date is 5 July , is this a discrepancy?

Which one is a discrepancy?

tks
vivian
there are no discepancy in both cases.
in 1st case, it could be deemed that bene did not accept the amendment.
in 2nd case, bene accept the amendment.

vijay
Posts: 27
Joined: Thu Jan 21, 2010 2:07 pm
First Name: VIJAYA
Last Name: KUMAAR
Organization: PIONEER INC
Filter: Two Plus Two =: 4

is there discrepency

Post by vijay » Sat Apr 10, 2010 2:13 pm

Dear Vivian,

It is not discrepency. But if BL shows onboard date which is different from BL issuance date(in this case you taken BL date), then there will be discrepency. Is your LC shows any notation to be mentioned on the Bill of lading?


Regards/Vijay

Post Reply