Most discrepancies are made when the beneficiary types its own documents. Document Drafts builds the commercial invoice, the beneficiary's certificate and the packing list from the credit you saved, quotes the credit's own words as written, leaves what it does not know as a visible blank and checks every draft before you see it. It is included in the Professional, Business and Enterprise plans.
A letter of credit commercial invoice has to describe the goods as the credit does, name the applicant, use the credit's currency and stay inside the credit amount and its tolerance. A beneficiary certificate has to say what field 46A asks. Typed from scratch, these are where the wrong word, the missing statement and the extra digit come from.
Issued by the beneficiary and made out to the applicant, in the credit's currency, with the goods description from field 45A word for word, the trade term as the credit states it and every invoice statement from 46A or 47A quoted as written (UCP 600 Art. 18 and ISBP 821 section C).
A beneficiary certificate or statement worded as field 46A asks, dated and ready for you to sign. The credit's words are copied unchanged after a short lead-in of ours, so you are not asked to trust a paraphrase (ISBP 821 section P).
A packing list with the same goods description as the invoice, the packages and weights you give and nothing that conflicts with the credit (ISBP 821 section M).
The drafts are run through the same document rules as the LC Compliance Check, against your credit. If a draft would be refused, the result says so beside it, with the rule it rests on.
It is for exporters. These are the documents the beneficiary issues itself. Transport, insurance, inspection and origin documents come from third parties, and the instruction pack tells them what the credit needs.
It does not replace the bank's examination. You remain the issuer of the documents and the bank decides whether they comply (UCP 600 Art. 14(a)).
“No discrepancies found” means nothing was found in the checks performed. It is not a promise that the bank will accept your documents.
It is not legal advice. It is best practice, drafted from the terms you saved.
It belongs to the subscription plans. Free and pay-as-you-go accounts see the feature, and there is no free draft set. It uses no check credit.
Included in the Professional, Business and Enterprise plans, monthly or annual.
