《国际商贸》英语Chapter 13 Documents Examination and Reimbursement.ppt

Chapter 13 Documents Examination and Reimbursement Introduction 13.1 General Principle 13.2 Examining a Draft 13.3 Examining a Commercial Invoice 13.4 Examining a Certificate of Origin 13.5 Examining Marine Insurance Documents 13.6 Examining a Bill of Lading 13.7 Most Common Discrepancies 13.8 Bank’s Common Practice If the Documents Presented Do Not Meet the Credit Requirement 13.9 Payment Refused by the Issuing Bank 13.10 Payment and Reimbursement under a Letter of Credit A letter of credit specifies what shipping documents the beneficiary must present to the bank and what must be shown on these documents. The documents are intended to indicate that the exporter has shipped the goods in conformity to his agreement with the importer. When the bank receives the documents presented by the beneficiary, it must examine them carefully in accordance with the credit requirement. Introduction ◆ Only the wording in the credit is binding on banks. ◆ Banks deal exclusively with documents. ◆Banks observe the rule of “strict compliance”. ◆ Banks assume no responsibility for authenticity, form or validity of the documents. ◆ Banks assumes no responsibility for the act of the third party taking part in the 139 credit operations. 13.1 General Principle ◆ L/C number required on the draft absent or incorrect. ◆ Presentation of the draft after the expiry date. ◆ Amount of the draft larger than amount of the credit. ◆ Tenor not same as shown in the credit. ◆ Draft not drawn by the beneficiary of the credit. ◆ Drawer’s signature missing. 13.2 Examining a Draft ◆ Draft not drawn on the bank specified in the credit. ◆ Draft not endorsed by the payee or endorsed incorrectly. ◆ Required interest clause, if any, missing. ◆ Amount in words and amount in figure not identical. ◆ Amount of the draft and total value of the invoice unequal unless otherwise stipulated in the credit terms. ◆ Other instructions in the credit