Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

An advising bank presents documents to you for payment. How would you respond to each of thefollowing discrepancies? Explain your answer. a. The letter of

An advising bank presents documents to you for payment. How would you respond to each of thefollowing discrepancies? Explain your answer.

a. The letter of credit calls for an ocean bill of lading.The seller presents a truckers bill of ladingshowing shipment to an ocean port.

b. The sales contract and the letter of credit call for shipment of Soda Ash Light. The invoiceshows shipment of Soda Ash Light, but the billof lading describes the shipment as Soda Ash.

c. The letter of credit calls for shipment of 1,000kilograms. The invoice shows shipment of anequal amount in pounds.

d. The CIF contract with the letter of credit callsfor onboard bill of lading to be dated by December20. The bill of lading is dated December 20,but the insurance policy is dated December 21.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Law Today The Essentials

Authors: Roger LeRoy Miller, Gaylord A. Jentz

9th Edition

9780324786156, 324786344, 324786158, 9780324786347, 978-0324786156

More Books

Students also viewed these Law questions