Scrutiny of Import documents
Scrutiny of Import documents Following points should be carefully checked in respect of the relevant documents: (a) Forwarding schedule of the negotiating bank whether there is any discrepancy mentioned in it whether there is any special instruction that cannot be complied with whether there is any commission/charge
Following points should be carefully checked in respect of the relevant documents:
(a) Forwarding schedule of the negotiating bank
- whether there is any discrepancy mentioned in it
- whether there is any special instruction that cannot be complied with
- whether there is any commission/charge payable/realized beyond L/C terms
- Documents are negotiated or sent on collection basis.
- Late shipment
- Late Presentation
- Early shipment i.e. shipment made before issuance of D.C or before time stipulated in Documentary Credit
- L/C expired
- L/C over-drawn
- Partial shipment or transshipment beyond L/C terms
(c) Bill of Exchange
- Amount of B/E differ with Invoice
- Not drawn on L/C issuing Bank
- Not signed
- Tenor of B/E not identical with L/C
- Full set not submitted
- Not issued by the beneficiary
- Not signed by the beneficiary
- Not made out in the name of the applicant
- Description, price, quantity, sale terms of the goods not correspond to the credit
- Not marked one fold as original
- Shipping marks differ with B/L & Packing List
(e) Packing List
- Gross wt., Net wt. & Measurement, Number of Cartons/Packages differ with B/L
- Not marked one fold as Original
- Not signed by the Beneficiary
- Shipping marks differ with B/L
(f) Bill of Lading/Airway Bill, etc.
- Full set of B/L not
- B/L is not drawn or endorsed to the order of Mercantile Bank Limited.
- “Shipped on Board”, “Freight Prepaid”, etc. notations are not marked on the B/L.
- Name and address of the Notify Parties are not mentioned or differ with L/C.
- B/L does not indicate the name and the capacity of the party i.e. carrier or master on whose behalf the agent is signing the B/L.
- ‘Shipped on Board’ notation not showing name of pre-carriage vessel/intended vessel.
- Short Form B/L.
- Charter party B/L
- Description of goods in B/L does not agree with that of Invoice, B/E & P/L
- Alternations in B/L not authenticated
- Loaded on Deck
- B/L bearing clauses or notations expressly declaring defective condition of the goods and/or the packages
- Stale B/L
- N documents not forwarded to buyers or forwarded beyond L/C terms.
- Inadequate number of Invoice, Packing List, B/L and others submitted.
- Certificate of origin differs with L/C terms.
- Shipment advice with Insurance Cover Note number not issued to the Insurance Company and/or to the applicant.
- Shipping Company Certificate regarding ownership of vessel not issued
- LCA Form, IRC, HS Code and Export L/C Number are not mentioned in all the documents
(h) PSI Certificate
- CRF absent
- NNRF issued instead of CRF
- CRF dated later than B/L, AWB, TR date
- Original CRF presented instead of duplicate
- CIF value not shown
- CRF not issued by authorized office of the inspecting company in the country of supply
- CRF not signed by the authorized officer of the inspecting company under dry embossed seal/hologram
- Container number and inspecting company’s seal number not mentioned in the CRF in case of container shipment
- Description, quantity, quality, H.S. Code and price of goods differ with L/C and Invoice
- CRF number & date not mentioned in the invoice and packing list with due endorsement of the inspecting company
Scrutiny of Import documents