Question
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.
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