Letter of credit document audit

A discrepancy in letter of credit documents can cost more than the transaction itself: discrepancy fees, delayed payment or, in the worst case, a rejected presentation. Ganesha Trade Advisors reviews your documents before they reach the bank, through the same eyes as a Trade Finance department.

What we review

We check every document against the credit terms (MT700 and its amendments) and against the international rules banks apply: the Uniform Customs and Practice UCP 600 and the International Standard Banking Practice ISBP 821. Among others:

• Commercial invoice: description of the goods, amounts, currency and Incoterm.
• Transport document (B/L, AWB, CMR): shipment, ports, dates, endorsements and clauses.
• Certificate of origin, packing list, inspection certificates, insurance and any other required document.
• Consistency between documents, presentation period and expiry date.

Three frequent discrepancies

• Late presentation. Unless the credit sets another period, UCP 600 requires documents to be presented within 21 days after shipment and always before expiry. Being a single day late is enough for the bank to refuse the presentation.
• Data that contradicts across documents. Weights, number of packages, marks or descriptions that do not match between the invoice, the packing list and the bill of lading. Each difference is a ground for discrepancy.
• Incorrectly signed bill of lading. The B/L must state who signs and in what capacity (carrier, master or an agent of either). A signature without that identification does not comply with UCP 600.

What you receive

A clear report, in English or Spanish, listing each discrepancy found, the rule behind it and how to correct it before presentation. If the documents comply, we confirm it in writing.

How we work

1. Send your documents through the website or by email, in PDF.
2. Technical review and final expert review: a systematic first review of every document, followed by the review of a Trade Finance specialist who validates each conclusion.
3. Receive the report within 24 business hours, with every point explained and how to resolve it.

Price

• Standard letter of credit: €300 (VAT not included).
• Complex letter of credit: €500 (VAT not included), when at least one of these applies: a large volume of documents; documents in languages other than Spanish, English or French, or unusual documents; or a special structure (transferred credit with substitution of documents, back-to-back, or three or more amendments). We tell you before we start.
• Urgent service: +40 %.
• Second review: if you resend the documents corrected within 15 days, the new review costs 50 % of the fee.

Offer: first review free of charge, urgent service included. The best way to get to know us and see how we work.

Turnaround

Standard letter of credit: report within 24 business hours of receiving complete documents; urgent service, 12 business hours. Complex letter of credit: 24-36 business hours; urgent service, 12-18 business hours.

Confidentiality

Your documents are transmitted and stored encrypted, handled confidentially and deleted 60 days after the case is closed. More information in the Privacy Policy.