Trade banking documents and discrepancy checks
An introduction to payment-related document files, letters of credit, collections and verifying settlement.
Start from the payment arrangement
Record the agreed payment method and the actual documents requested by the relevant bank or buyer. A letter of credit, a documentary collection and a guarantee are not interchangeable. Read the applicable terms and rules with the responsible bank before dispatch.
Build a consistent document file
Compare party names, goods, quantities, currency, invoice value, shipment dates and transport document details. Check the required originals, copies and presentation instructions. Resolve a discrepancy before sending the final file rather than assuming that an explanatory message will cure it.
Do not confuse collection with a guarantee
Documentary collection should not be presented as the bank guaranteeing payment. Understand when documents may be released under the agreed instructions. Obtain professional confirmation of the risks and terms for the actual transaction; this guide does not choose a financing product.
Payment evidence
A message or transfer screenshot is not the same as verified settlement. Confirm receipt through the appropriate banking channel and keep the reference with the agreed invoice. If the recipient differs from the contracting party, clarify authority before payment. Never publish account or identity information in a public load listing.