LC Requires Packing List To Show Grade But Not Shown In LC
Posted: Wed Oct 09, 2013 2:31 pm
Hello!
May I have your opinion?
L/C showing goods description as "steel bar" only, and require "Packing list in duplicate showing grade.
Packing list submitted showing goods description as "steel bar SD400". Issuing bank quoted the discrepancy "packing list not showing grade (required by L/C)".
Later, the presenting bank argued that "SD400" is the grade. Since L/C did not state the "grade", it is not discrepancy.
Then, presenting bank argued that packing list did not specify "SD400" as the "grade".
Should issuing bank honour?
May I have your opinion?
L/C showing goods description as "steel bar" only, and require "Packing list in duplicate showing grade.
Packing list submitted showing goods description as "steel bar SD400". Issuing bank quoted the discrepancy "packing list not showing grade (required by L/C)".
Later, the presenting bank argued that "SD400" is the grade. Since L/C did not state the "grade", it is not discrepancy.
Then, presenting bank argued that packing list did not specify "SD400" as the "grade".
Should issuing bank honour?