TradingDocs.AI introduces a free LC compliance checker, empowering international traders to ensure document accuracy before bank submission. The tool helps mitigate costly delays and rejections, streamlining the global trade process.
-- TradingDocs.AI Launches Free Letter of Credit Compliance Checker to Combat Industry's 70% Document Rejection Rate
TradingDocs.AI, a leading AI-powered platform specializing in international trade document compliance, has launched a free Letter of Credit (LC) compliance checker designed to assist traders in reducing the likelihood of costly document rejections and shipment delays. This new tool directly targets a critical issue in international trade: nearly 70% of LC presentations are rejected on the first attempt due to document discrepancies, causing significant delays and financial losses.
The Free Compliance Checker
The newly introduced compliance checker, accessible immediately at tradingdocs.ai, allows traders to verify their shipment documents before submission to banks. The tool provides three distinct verification modes to ensure that the necessary requirements are met before bank submission:
- LC Compliance Check: Traders can upload their Letter of Credit and associated document set, ensuring all conditions are met before presentation to the bank.
- Documentary Instructions Check: This mode allows traders to compare their documents against the specific requirements set by the shipper or buyer, identifying and correcting discrepancies that could lead to rejection.
Cross-Document Comparison: This feature cross-verifies the consistency of documents across invoices, packing lists, bills of lading, and certificates to detect potential mismatches that could jeopardize the transaction.
The Cost of Small Errors in Trade Finance
Murat Selim Ozturk, Founder and CEO of TradingDocs.AI, emphasized the financial implications of document discrepancies in global trade: “A single digit wrong in a batch number, a weight mismatch between documents, or a missing clause can cause serious problems. Document discrepancies in shipments lead to customs delays and demurrage charges that can reach $10,000 to $50,000 per shipment. LC rejections mean bank fees, resubmission delays, and tied-up funds costing interest. We've seen firsthand how minor errors create major financial impact. Our free check lets traders experience firsthand how AI catches these issues before they become costly.”
The widespread issue of document discrepancies has long been a primary cause of delays in trade finance. According to the ICC Banking Commission, banks typically spend 5-10 days manually reviewing each LC presentation to ensure compliance. TradingDocs.AI’s automated system completes verification in minutes, offering line-by-line references to LC requirements and identifying specific discrepancies that could delay the approval process.
Results in Minutes with No Account or Credit Card Required
The free tool requires only a quick email verification. No paid subscription, login credentials to remember, or credit card is required. Traders simply enter their email, verify with a one-time code, upload their documents (up to 100 pages), and receive a comprehensive compliance report. This user-friendly process ensures that even those with minimal technical expertise can access the benefits of AI-powered verification.
About TradingDocs.AI
TradingDocs.AI is an AI-powered international trade document compliance platform built around three core capabilities: Capture, Compare, and Comply. Capture extracts structured data from any trade document for export or ERP integration. Compare cross-checks documents against each other, Letters of Credit, or Documentary Instructions to catch discrepancies. Comply automatically validates documents against trade rules and regulations for over 150 countries. Trusted by trading houses across MENA and North America, the platform is headquartered in Dubai and designed to process thousands of documents daily, helping importers, exporters, and trading companies reduce errors and streamline global trade operations.
Media Contact
Murat Selim Ozturk
Founder & CEO
TradingDocs.AI
Email: info@tradingdocs.ai
Website: www.tradingdocs.ai
Contact Info:
Name: Murat Selim Ozturk
Email: Send Email
Organization: TradingDocs.AI
Website: https://tradingdocs.ai/
Release ID: 89178097
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