What are compatible documents?
Comprehensive documents adhere to the Terms and Conditions related to the Accreditation, which allows the bank to release the payment to the seller on behalf of the Buyer. Charne letters are used in business transactions, especially at the international level, to facilitate the movement of funds and offer certain protection to both parties. According to the conditions, when the seller sends the goods to the buyer and prepares documentation, can be submitted to the bank for payment. The Bank examines these documents to see if they are in line and release the payment. This is used to generate a letter of credit, so the bank has a lot to compare with the documents presented by the seller. If the documentation is drawn up, the buyer must be completed and the buyer must compare the order description of which the bank grants. The discrepancies can resulte in refusal and no payment for the seller.
Banks tend to be very cautious when examining the documentation because they want to provide the buyert guarantee that the payment will not be issued for a wrong shipment. This can sometimes lead to rejection for relatively small reasons. For example, the order of textiles can describe the color of the textile as "salmon" in the documents sent to the bank, while the seller describes it as "pink". The bank may decide that the order is no longer in line and withdraws the payment.
Before sellers, send a package of information to the bank, they can check the irregularities that could cause the bank to reject the payment. Compatible documents should describe the shipment accurately and correctly, without falsification. Sellers can consult the original sales contract to make sure they transport what the buyer has asked and check the small variants that Might causes a problem processing. If the bank decides not to provide the seller with documents satisfactory, it will be necessary to re -process the transaction.
The term “compatible documents” is also used in several other ways. Travelers must maintain compatible documents for exceedingBorders, for example with all the necessary features to go through the customs inspection. They may include a clear photo, detailed demographic information and a suitable grade and confirmation. Documents may also have to observe the codes and protocols set by the agency to be admitted for activities such as grant request.