Any idea, who said in a judgement that there are no minor discrepancies.
Regards,
Shahed
Strict Compliance Vs. Substantial compliance
Strict Compliance Vs. Substantial compliance
There are lots of court opinions that discuss discrepancies, just as there are lots of ICC opinions on the topic.
Under the UCC you look to standard practice to determine what does or does not strictly comply. Standard practice is evidenced by the ICC rules and opinions, etc., and includes treating some discrepancies, i.e., differences, as not justifying refusal.
Substantial compliance--at least to US lawyer types, invites inquiry into the actual underlying transaction to see if the documentary discrepancy had a material effect there.
Regards, Jim Barnes
Under the UCC you look to standard practice to determine what does or does not strictly comply. Standard practice is evidenced by the ICC rules and opinions, etc., and includes treating some discrepancies, i.e., differences, as not justifying refusal.
Substantial compliance--at least to US lawyer types, invites inquiry into the actual underlying transaction to see if the documentary discrepancy had a material effect there.
Regards, Jim Barnes