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Discrepancy

   Also found in: Dictionary/thesaurus, Legal, Acronyms, Wikipedia 0.01 sec.
Discrepancy
Any deviation from the conditions stipulated in a letters of credit. Discrepancies void letter of credit protection.

Discrepancy
1. A letter of credit where the holder does not comply with the terms set forth in it. A discrepancy voids the letter of credit.

2. More generally, any deviation from an agreement or contract.


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