Beneficiary has submitted its export documents, which include a commercial invoice. Invoice is showing the quantity(s) and unit price(s) with a total amount at the bottom of the invoice. Beneficiary is requested the bank to check the documents in details, and forward it to the issuing bank.
Is there any responsibility for the exporter's bank to check the mathematical calculations in the invoice? It may be mentioned that ISBP paragraph A 22 states that the bank will go by the stated total amount.
Your comments, please.
Regards,
Shahed
[edited 4/25/2016 9:41:54 PM]
Mathematical calculations
Mathematical calculations
There is no obligation for you to check any calculations. It all depends on how you view your relationship with your customer and how far you want to go in supporting that relationship. Personally I think you are creating a rod for your own back by doing this unless it is a simple couple of calculations.