"Documents may be titled as called for in the credit, bear a similar title or be untitled.The content of a document must appear to fulfil the functionof the required document. For example, a requirement for a"Packing List" will be satisfied by a document containing packing details, whether it is titled "Packing List", "PackingNote", "Packing and Weight List", etc., or bears no title."

Except for the specific requirement in the L/C or particular provision in the UCP 600, this general standard will apply to all documents presented under the L/C.

What should be the position for a documentary requirement of "invoice" or "commercial invoice"? UCP 600 has no reference to it. However,ISBP 821 has two dedicated paragraphs in Section C under the "Title of invoice" heading in paragraphs C1 (a) and C1 (b).

Let us first examine ISBP 821, paragraph C1(a), which reads, "When a credit requires presentation of an "invoice" without further description, this will be satisfied by the presentation of any type of invoice (commercial invoice, customs invoice, tax invoice, final invoice, consular invoice, etc.).However, an invoice is not to be identified as "provisional","pro-forma" or the like."

ISBP 821, paragraphC1 (a), is applicable when an L/C requires a generic "invoice" without any further description regarding the specific type of invoice. The presented invoice may bear the:

• Same Title: the presented invoice may be titled the same as the document required by the credit,i.e., invoice, or a
• Similar Title: Since the L/C did not specify the type of invoice, the presentation of an invoice titled commercial invoice, customs invoice, tax invoice, final invoice, consular invoice, etc., ^[1] will be considered a similar title.
• Or be Untitled: The presented invoice may be untitled.

Now, let’s move into ISBP 821, paragraph C1(b),which reads, "When a credit requires presentation of a "commercial invoice", this will also be satisfied by the presentation of a document titled "invoice", even when such document contains a statement that it has been issued for tax purposes."

This paragraph is applicable when the L/C requirement is for a specific type of invoice ,i.e., commercial invoice. As the L/C requires a particular type of invoice, the paragraph narrows down the similar title to "invoice"only. Other types of invoices, such as "custom invoice" and "tax invoice", etc. are not mentioned in this paragraph due to further narrowing down with regards to tile than the invoice(if those tile bear by the invoice). Therefore, those titles should not be considered similar titles. In other words, when L/C requires the presentation of a "commercial invoice", the presented commercial invoice may include the:

• Same Title: the presented commercial invoice may be titled the same as the document required by the credit, i.e., commercial invoice, or a
• Similar Title: the presented commercial invoice may be titled as"invoice". This is due to the long standing recognized internationalstandard documentary credits practice accepting the use of title “invoice” foran L/C requirement of commercial invoice. However, it has not been the case ofthe use of a document title other type of invoice i.e., “custom invoice” or“tax invoice” for an L/C requirement of specific commercial invoice.
• Untitled: The presented invoicemay be untitled.

ICC Banking Commission has taken an excellent educational initiative to issue “ICC TechnicalAdvisory Briefings” on various common interest subjects. On July 06, 2023, we received ICC Technical Advisory Briefing No. 7 on “Title of Invoice”. The briefing eloquently elaborates “title of invoice” issue from a different perspective. However, one particular remark at the end mentioned that “[a]requirement for presentation of a "commercial invoice" will also be satisfied by the presentation of any type of invoice including, but not limited to, those mentioned in paragraph C1 (a) such as customs invoice, tax invoice, final invoice, and consular invoice."

 The above- expanded interpretation in the briefings seems go beyond the boundary of ISBP 821, paragraph C1 (b).

One may argue that using a “similar title” stated in ISBP 821 C2(b) is not exhaustive. However, carefully looking at the deliberate segregation of two the ISBP 821 paragraphs, i.e., one covering the situation where the L/C requires an invoice without furtherdescription [ISBP 821 C2(a)], and one covering the situation wherethe L/C requiresa specific commercial invoice ISBP 821 C2(b) along with examples of permissible “similar” titles outlines the clear understanding that ISBP 821 C2(b) indeed narrows down the “similartitle” option. Moreover, no other ICC official opinions after the ISBP 745 haveaddressed this issue. Furthermore, the commercial invoiceis a very common document.The applicant submits the commercial invoice to various regulatory bodies for numerouspurposes ranging from the fulfilment of regulatory reporting to availingincentive facilities. Gettinga document titled “custom invoice”or a “tax invoice” instead of a specific commercial invoice the L/Crequirement may create post-transactional difficulties for the applicant.