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What's the meaning of word (About) before LC amount ?

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Question added by Ahmed Taha - CMA - SOCPA - IFRS , Senior Accounting Manager – Controlling , Golf Saudi
Date Posted: 2014/02/21
REHAN AHMED
by REHAN AHMED , Sr Import Officer , BankIslami Pakistan Ltd.

The word About before L/C AMOUNT or QUANTITY shows that there is Tolerance in the L/C and shipment may be exceed or lesser than the defined amount / quantity in l/c.

Venkatesan Ramani
by Venkatesan Ramani , Specialist - Trade Finance operations , Abu dhabi Commercial bank

The word ''About '' means - +/-10pct (ie.Documents under the LC can be submitted  - plust/minus10pct)

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