Packing list, weight list, certificate of origin, commodity inspection certificate, etc. must be checked against the terms of the letter of credit first, and then checked against other relevant documents to ensure that the documents are consistent.
Some documents cannot be changed or modified on time due to various reasons. A letter of guarantee (usually called a guarantee) can be issued to the bank. In the letter of guarantee, the presenter requires the bank to send the documents to the issuing bank and promises that if the buyer does not accept the documents or does not pay, the bank has the right to recover the money paid to the presenter. The bank may accept this, but it is best not to do so. Because after issuing the letter of guarantee, the risk of not receiving the payment for the goods still exists, and other expenses incurred must also be borne. When the presenter issues a letter of guarantee to the bank, he should generally contact the customer in advance and obtain the confirmation document that the customer accepts the discrepant documents.
Please ask the bank to send a telex (commonly known as “discount telex”) to the issuing bank requesting acceptance of discrepancies and payment. The relevant bank will send the relevant documents after receiving the telex of the issuing bank confirming the acceptance of the discrepant documents. The collection of exchange is generally guaranteed. This method can avoid the occurrence of blindly sending documents without consent, but it takes a certain amount of time to require the issuing bank to confirm, and there is also the risk of the issuing bank not confirming, and the relevant telex fees must be borne.
Due to the discrepancies in the documents, the bank credit under the original letter of credit has become commercial credit. If the customer has a good credit and urgently needs the relevant documents to withdraw the goods, collection can be used to reduce some intermediate links.
The above measures are mainly to deal with documents that do not comply with relevant regulations in an active and prudent manner under the premise of effectively controlling the ownership of the goods, so as to avoid the occurrence of both goods and money being lost. Because as long as the transport documents representing the property rights are in hand, the buyer cannot withdraw the goods. If the buyer still needs this batch of goods, then the buyer will also accept the documents with discrepancies. It must be remembered here that discrepant documents are very risky, and the acceptance of discrepant documents depends entirely on the buyer.