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The main Importer´s mistakes

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The main Exporter´s mistakes

•L/C does not comply withcontract of sale – incorrectinstructions given by Importer

•L/C does not comply withcontract of sale –mistakes/differences done dueto the processing in banks

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L/C and Incoterms 2010L/C and Incoterms 2010

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Problems in Practice

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“If a trade term is part of the goods description in the credit, or stated in connection with the amount, the invoice must state the term specified, and if the description provides the source of the trade term, the same source must be identified (e.g., a credit term “CIF Singapore Incoterms 2000” would not be satisfied by “CIF Singapore Incoterms”). Charges and cost must be included within the value shown against the stated trade term in the credit and invoice. Any charges and cost shown beyond this value are not allowed.”

ISBP, ICC Publication 681 – paragraph no. 61:

incoterms payment method - en.ppt

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