 |
Toward Documents Reduction for Discrepancy Risk ReductionLC VIEWS, Vol. 2, No. 3, March 2005 |
|
Toward Documents Reduction for Discrepancy Risk ReductionLC VIEWS, Vol. 2, No. 3, March 2005 |
Disclaimer
- The names of the parties, as well as the data and information in the cases stated below, have been sanitized in order to protect the identity of the parties involved. The complexities of the cases have also been simplified to facilitate easy understanding of the key issues involved.
- Our expert's opinions do not necessarily reflect the views of the ICC or the ICC Commission on Banking Technique and Practice. No legal imputation should be attached to any of the contents of the cases and no legal responsibility is accepted for any errors, omissions or misleading statements or opinions caused by negligence or otherwise. Our expert's opinions are given for your reference only and you should not rely upon or act on our opinions, of which we are not held liable. You should consult your legal counsel or other experts for their opinions in your specific cases.
- No article, opinion, or comment can be reproduced in whole or in part without our express written permission.
The lesser the number of stipulated documents the lesser the risk of discrepancies. The British Exporters Association says in its publication "The BEXA Guide to Letters of Credit": "It is important that the number of documents required by the letter of credit which are to be produced by third parties is kept to a minimum...." How to fix the problem of documents reduction - what the issuing banker can do?
T. O. Lee, an LC consultant and Expert Witness (www.tolee.com), says ...
 |
(416) 298-5881 |  |
(416) 292-5535 |
|