The problem of presentation of discrepant export and import documents against letter of credit for payment and financing.

摘要

Despite growing discrepancies in presentation of export and import documents for payment and financing during the past 20 years, no research has been done on where, why, and how the discrepancies in the documents occurred. The objective of this dissertation is to call attention to the neglect and to propose a resolution to this problem. Beginning with a description of the problem, the research describes this phenomenon as a significant worldwide issue for sellers who are too often refused payments when banks discover discrepancies on export and import documents.;This dissertation suggests two hypotheses in order to provide a tentative explanation for a phenomenon under investigation. The first hypothesis is the more excessive the requirements in the letters of credit, the more likely it is to find discrepancies. The second hypothesis is the more ambiguous the context of the Uniform Customs and Practice, the more likely it is to find discrepancies. Descriptive research, e-research, and documentary survey are employed as the methodological approach. Specifically, the dissertation uses e-research through a collection of discrepancies posted on 500 web sites. This is followed by a documentary survey to collect 10 cases of export and import documents from the United States District Courts and international trading companies for second analysis. Both analyses reveal problems on discrepant export and import documents presented for payment and financing.;Descriptive research identifies the existing problems of discrepancies on the export and import documents. After the problems of discrepancies are identified, this dissertation then provides the diagnostic information to clarify the situation. The findings reveal that the problems of documentary discrepancies are the required documents do not comply with excessive terms and conditions of the letter of credit and the context on each article of the Uniform Customs and Practice 500. The first hypothesis is not rejected because 49%-50% of the data confirm the more excessive the requirements in the letters of credit, the more likely it is to find discrepancies. The second hypothesis is not rejected either because 29%-31% of the data confirm the more ambiguous the context of the Uniform Customs and Practice, the more likely it is to find discrepancies.;In conclusion, this dissertation recommends solutions to the problems of discrepancies on export and import documents. To solve the problem of excessive terms and conditions of the letter of credit, exporters must negotiate with importers not to have excessive requirements in the letter of credit. Model 1 (documents on free on board and cost and freight shipping term), Model 2, (documents on cost, insurance and freight shipping term), Model 3 (inspection certificate), and Model 4 (invoice) are recommended for use in documentary preparation in order to keep documents discrepancy free. To solve the problem of the ambiguity of the Uniform Customs and Practice, this dissertation recommends that the context of each article must be clear and concise in order to be easily understood and implemented. For example, article 31 should state clearly that loading on deck is not acceptable instead of using an ambiguous language with interpretive phrasing. Secondly, a guideline with a practical example must be provided for each article accordingly. Lastly, the personnel involved in documentary preparation and documentary examination must be trained and certified to ensure they have enough skills to handle export and import documents properly.