Once an LC is discrepant, the deal is as good as unsecured. If we are unable to provide the right documentation, the alternative is to have a commitment from customer to accept the discrepancies mentioned and confirm with their issuing bank to accept the LC. However we need to bear in mind - customers do have a choice to default. So ultimately the risk is still on Eaton.
Hi Chantal,
Since we cannot amend the document anymore, my suggestion is to have Angkana drop an email to customer to let them know about the discrepancy. We need Hung to have a word with customer to explain the situation and provide an email confirmation to Angkana’s email and accept the listed discrepancies. What do you think?