Letter of Credit Forum

Dear Experts,

We are the beneficiary, we have submitted discrepant documents twice on the second presentation the only discrepancy pointed out by the applicant’s bank was “ source of incoterm no mentiones” i.e. we had mentioned “Ex-works” but not “Ex-works as per Incoterms 2010”. There is a clause in the LC that all typographical errors which do not affect the quality, quantity or price are acceptable.

My 1st question is whether the above discrepancy can be termed as Typographical error?

The LC presentation period mentioned is “duration of the credit”, lc maturity is December. The applicant’s bank is refusing to either accept the discrepancy as Typographical error and also refusing us to make a third presentation

My 2nd question is, weather the applicant’s bank can deny 3rd presentation even if we are well within the presentation period?

The only solution provided by the applicant’s bank is if the applicant is ready to waive off the discrepancy, to which the applicant has refused after repeated requests.