Case Problem:
An advising bank presents documents to you for payment. How would you respond to each of the following discrepancies? Explain your answer.
a. The letter of credit calls for an ocean bill of lading. The seller presents a trucker’s bill of lading showing shipment to an ocean port.
b. The sales contract and the letter of credit call for shipment of “Soda Ash Light.” The invoice shows shipment of “Soda Ash Light,” but the bill of lading describes the shipment as “Soda Ash.”
c. The letter of credit calls for shipment of 1,000 kilograms. The invoice shows shipment of an equal amount in pounds.
d. The CIF contract with the letter of credit calls for onboard bill of lading to be dated by December 20. The bill of lading is dated December 20, but the insurance policy is dated December 21.
Your answer must be typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.