Module5.Lc and amendment.ppt

5. L/C Checking Amendment 1. Introduction Letter of credit is the most frequently used mode of payment in international trade. Upon receiving the L/C, the beneficiary will check the terms and conditions against the S/C to ensure that they are in full conformity with the terms stipulated in the S/C. If there are any discrepancies, even a minor difference, which is not discovered or amended timely and duly, may lead to the exporter’s serious difficulty because of the payment dishonored(拒付）by the issuing bank. As a result, when there are some discrepancies or soft clauses which the benef