Why does the bank contact the buyer about irregularities or discrepancies in shipping documents?
A documentary credit stipulates the documents that are to be presented and the content of these documents. We then verify that these conditions are met before making payment to the supplier. If the documents presented by the supplier do not comply with the terms and conditions of the documentary credit, we refer the discrepancies or irregularities to the buyer. The buyer can either accept the documents as presented and make payment, or refuse to accept the documents, in which case payment is not made.
Related Questions
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