How to Record LC Document Exam Fees
Records the bank fee specifically for the examination of shipping and commercial documents submitted under a Letter of Credit.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Bank Charges - Trade Finance | Debit | 150.00 | - |
| Cash or Bank | Credit | - | 150.00 |
💡 Accountant's Note
Banks charge a per-set fee to ensure all documents strictly comply with the terms and conditions set out in the LC before releasing payment.
Practitioner & Systems Framework
💻 ERP Architecture
Post to banking fees sub-account with a specific tag for trade finance operations.
⚠️ Audit Flags
Consistency of exam fees relative to the number of LC transactions processed.
📄 Required Documentation
Bank fee schedule and specific debit advice for the document review.
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