Certified Documentary Credit Specialist(4)

INSTRUCTIONS TO STUDENTS

Identify the five discrepancies on the attached discrepancy checklist (document 1) then transfer your answers to the main answer sheet.

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DISCREPANCY CHECKLIST

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1. Shipment not within period allowed.

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2. Partial shipment effected.

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3. Documentary credit overdrawn.

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4. Documents do not evidence goods of Dutch origin.

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5. No bill of exchange presented.

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6. Amount on the commercial invoice incorrect.

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7. Transport document not correctly issued to the order of the applicant.

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8. Transport document not signed in accordance with UCP600.

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9. Transport document not stamped and signed by the shipper.

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10. The invoice covers merchandise not called for in the documentary credit.

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CDCS Practice Test

MT700

INCOMING SWIFT MT700

FROM ISSUING BANK MERHABA BANK, ISTANBUL, TURKEY TO ADVISING BANK ACB BANK, ROTTERDAM, THE NETHERLANDS 27: SEQUENCE OF TOTAL 1/1

40A: FORM OF DOCUMENTARY CREDIT IRREVOCABLE 20: DOCUMENTARY CREDIT NUMBER 2003.AC.100 31C: DATE OF ISSUE 07 MAY XXXX 40E: APPLICABLE RULES UCPURR LATEST VERSION

31D: DATE AND PLACE OF EXPIRY 01 JULY XXXX, ROTTERDAM, THE NETHERLANDS 50: APPLICANT FACTORING A.S. ISTANBUL, TURKEY 59: BENEFICIARY DE GROOT MACHINES B.V. HAARLEM, THE NETHERLANDS