The initial effect of the job trait Inquartata gives a 5% increase to the rate of parry while the subsequent ranks increase this effect by 2%. The effect of “Inquartata +” when wearing Erilaz Leg Guards gives you an additional rank (+2%), and when wearing Erilaz Leg Guards +1, it gives you two additional ranks (+4%).

While I cannot share the exact value of the parry cap, when fighting a monster that is the same level or above, the value is such that you will not be able to reach the maximum. On the other hand, when fighting monsters that are lower level than you, there will be cases that you reach the cap; however, these are monsters that are so weak that you wouldn’t be rewarded experience points from them.