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discounts on invoices not authorized by the credit

Posted: Wed Nov 07, 2001 12:00 am
by lucettelessard
A beneficiary presented documents conforming to the credit terms however his invoice showed a $10.00 "lc deduction" not called for in the credit. Would you consider this as a discrepancy?

discounts on invoices not authorized by the credit

Posted: Thu Nov 08, 2001 12:00 am
by PGauntlett
ICC Banking Commission Document no 470/TA.455 dated 30/3/00 states (effectively) that this type of deduction is acceptable.