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FrançaisA deduction from an amount due to given consideration of such circumstances as prompt or early payment or an order of unusually large quantity. Selling a receivable or accepted draft at a price below face amount for net present value….
Read MoreDiscrepancies
In the context of letters of credit, discrepancies arises when documents presented under a letter of credit do not conform to the terms of the credit; generally an error, contradiction or omission related to the documents constitutes the discrepancy. The…
Read MoreDocumentary collection
A method of payment under which the shipping documents relating to a particular cargo are released to the importer on payment (documents against payment D/) or acceptance (documents against acceptance D/A) of a documentary draft drawn on him by the…
Read MoreDocumentary credit
Documentary credit means the same thing than “letter of credit”. Traders and bankers in some parts of the world (US, Asia) tend to use the term “letter of credit” or the abbreviation “L/C”, while some bankers (in Europe) prefer to…
Read MoreDocumentary instructions
The formal list and description of documents (primarily shipping documents) a buyer requires of the seller, especially in a documentary letter of credit.
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