Is Lmited Limited?

[ANeves]

I would appreciate your comments on the behaviour of an issuing bank that refused a set of documents for - in our view - a spurious discrepancy disguised as strict compliance.
ABCD Banking Corporation Limited issued a letter of credit, available at its counters, that required the presentation of a bill of lading made out to order of ABCD Banking Corporation Limited.
Our client presented a set of documents including a bill of lading made out to order of ABCD Banking Corporation Lmited.
The issuing bank refused the documents on the grounds that Quote B/L shows Lmited instead of Limited at the consignee's column. Unquote
At our client's request we contested the alleged discrepancy on the basis that a typing mistake that does not affect the meaning of a word in which it occurs does not render a document discrepant.
The issuing bank argued that Quote As a name of a company has no meaning it can not be considered as typing error Unquote and maintained its refusal.
Our motto is that a letter of credit is a method of payment, not a method for hindering the payment. No doubt that this type of practices do pose a serious threat to l/cs and pervert the spirit of ICC rules.
Thank you for your views.
António

[asamaha]

No doubt that such behaviour hides a bad intention from the part of the issuing bank which would be sanctioned for, should the case be raised before a court

Regards
Antoine