The Discrepancy Letter of Credit is a critical document in international trade finance operations under Indonesian jurisdiction. It is utilized when documents presented under a Letter of Credit contain discrepancies that do not comply with the terms and conditions of the credit or applicable international banking standards. The document must comply with Indonesian banking regulations, particularly Bank Indonesia Regulation No. 5/11/PBI/2003, while also adhering to international standards such as UCP 600. It serves multiple purposes: officially notifying parties of discrepancies, documenting the nature of non-compliance, specifying any applicable fees, and requesting instructions for handling the discrepant documents. This communication is essential for maintaining clear records of trade finance transactions and ensuring proper handling of international trade documentation within the Indonesian legal framework.
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1. Letter Reference Details: Date, reference numbers, and urgent/priority marking if applicable
2. Addressee Information: Complete details of the receiving bank/party including contact person, address, and reference numbers
3. LC Information: Letter of Credit number, date, amount, and related reference numbers
4. Document Presentation Details: Date of document presentation and reference to the specific presentation being discussed
5. List of Discrepancies: Detailed enumeration of all discrepancies found in the presented documents
6. Handling Instructions: Clear instructions regarding the treatment of the discrepant documents and any fees/charges involved
7. Response Requirements: Timeframe for response and method of communication expected
8. Authorization: Signature block with name and position of the authorized bank officer
1. Applicant's Instructions: Include when specific instructions from the LC applicant regarding the discrepancies need to be communicated
2. Fee Details: Include when there are specific discrepancy fees or other charges that need to be detailed
3. Document Disposition: Include when specific instructions for physical document handling are required
4. Previous Communication Reference: Include when referring to prior communications about the same presentation
5. Swift Details: Include when the communication is followed by SWIFT message or when referencing SWIFT communications
1. Discrepancy List Attachment: Detailed list of discrepancies with specific reference to UCP 600 articles and ISBP requirements
2. Fee Schedule: Schedule of applicable discrepancy fees and charges
3. Document Checklist: Checklist of documents presented versus documents required under the LC
4. Copy of Relevant SWIFT Messages: Copies of relevant SWIFT communications referenced in the letter
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Import/Export
Shipping and Logistics
Commodities Trading
Retail
Agriculture
Mining
Oil and Gas
Textiles
Electronics
Relevant Teams
Trade Finance
International Banking
Documentary Credits
Trade Operations
Compliance
Risk Management
Export Operations
Import Operations
Banking Operations
Trade Services
International Trade
Documentary Collections
Relevant Roles
Trade Finance Manager
Documentary Credits Officer
International Banking Officer
Compliance Officer
Trade Operations Manager
Export Manager
Import Manager
Letter of Credit Specialist
Banking Operations Manager
Trade Finance Director
International Trade Specialist
Documentary Collections Officer
Risk Management Officer
Trade Services Manager
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