Mr Old Man PARTIAL SHIPMENTS UNDER SUB-ARTICLE 31 (B) QUESTION Dear Mr. Old Man, LC does not allow partial shipments. Documents were presented to the issuing bank in two separate covering schedules. The first set reached the issuing bank’s counter on 5 O… Read More
Mr Old Man LC Document Compliance: Consignee Details on Certificate of Origin vs Bill of Lading Understanding ISBP 821 L5 — A Practical Q&A In trade finance, it’s not uncommon for exporters and document checkers to wonder how far they can “stretch” consignee information on different document… Read More
D/P AT XXX DAYS AFTER BL DATE 22 Jan 2014 QUESTION Dear Mr. Old Man, As far as I know there are only two types of collection: D/P (Documents Against Payment) and D/A (Documents Against Acceptance). However, I’ve just heard about a strange collection: D/P at xxx days after BL date. Please let me know if there is such a strange collection. If there is, what is the difference between …
QUESTIONS REGARDING BPO 18 Jan 2014 QUESTION Kính gửi anh Old Man, Hiện nay em cũng đang nghiên cứu về sản phẩm BPO, tuy nhiên còn khá mới mẻ tại Việt Nam. Anh có thể chia sẻ với em một chút kiến thức về sản phẩm này không ạ (phương thức giao dịch, …). Em cảm ơn a nhiều ———— ANSWER Hi, Cung cấp cho bạn …
NEGOTIATION WITH OR WITHOUT RECOURSE 30 Dec 2013 QUESTION In response to a query at http://letterofcreditforum.com/content/i-need-some-clarification-regards-lc, you wrote: “Different from LC available by payment, LC available by negotiation allows the beneficiary to receive the payment by negotiating the sight drafts and documents at a nominated negotiating bank which is normally located in his country. The negotiation may be effected on a with or without recourse basis”. I do …
CHANGING PAYMENT TERMS OF THE LC 18 Nov 2013 QUESTION Dear Sir. Need a clarification on transferable LC regarding clause 42C. – If the original LC mentions LC at sight, can the 1st beneficiary change this to LC 30 days usance when transferring this LC to the 2nd beneficiary ( if the 2nd beneficiary agrees to LC 30 days). If a sight LC is transferred as a sight LC, …
AMOUNT OF COVER 13 Nov 2013 QUESTION The LC was issued for $8,000 showing as follows: – Field 45: Commodity: Fabrics Total amount: $10,000 TT advance $ 2,000 – Field 46: Insurance cert cover for 110% invoice value Documents presented: – Invoice shows: Commodity: Fabrics Actual shipped goods amount: $10,000 TT advance $ 2,000 Invoice amount: $8,8000 – Insurance Certificate shows: Sum insured: $8800. Is the …
LC WITH SPECIAL PAYMENT CONDITION 7 Nov 2013 QUESTION Our company is specialized in importing P-phones. Our policy is that the quality, quantity and condition of the goods must be checked at our end. If the goods are satisfactory we will sign Hand Over Certificate which is the key document to trigger the payment. According to the contract we have to open a letter of credit in favour …
AUTHENTICATION OF CORRECTIONS ON BILL OF LADING AND INVOICE 19 Oct 2013 QUESTION LC states: – Special condition: Documents showing anycorrections without authentication by the issuer are not acceptable. – Invoice must be certified by Chamber of Commerce – Trade terms: CFR ADEN SEAPORT YEMEN The presented BL shows the letterhead of PIL Pte Ltd andis signed by PIL Vietnam Co., Ltd as Agent for the Carrier:PIL Pte Ltd. The presented invoice …
LC CONFIRMED BY THE FIRST ADVISING BANK 15 Sep 2013 QUESTION Dear Mr. Old Man, I follow up your blog and see it very helpful. I have a question for you. Bank B sent Bank C an MT 710 showing some details as follows: Field 40B (Form of Documentary Credit): IRREVOCABLE ADDING OUR CONFIRMATION Field 52A (ISSUING BANK): BANK A Field 41A: (Available with … by): BANK B BY NEGOTIATION …
CAD 6 Aug 2013 QUESTION Dear Mr. Old Man, Mr. Old Man cho em hỏi nghiệp vụ CAD xuất khẩu và nhập khẩu được thực hiện theo trình tự như thế nào? Em làm TTQT nhưng chưa thực hiện nghiệp vụ này bao giờ mà chỉ được nghe qua thôi nên không hiểu rõ lắm. Mr. Old Man có thể giúp em hiểu về …
HOW TO DETERMINE THE PRESENTATION PERIOD WHEN MULTIPLE SETS OF BILLS OF LADING ARE PRESENTED 31 Jul 2013
WHERE DOCUMENTS UNDER D/P ARE NOT PAID 25 Jun 2013 QUESTION Dear Mr. Old Man, I have the following case that needs your advice: A seller signed a contract to sell sea products to a buyer in Italy. After the shipment was made, the seller presented the documents under D/P terms to his bank (remitting bank) and asked for discounting. The remitting bank discounted the documents on a with recourse …
BILL OF LADING DATED PRIOR TO LC ISSUANCE DATE 15 Jun 2013 QUESTION Dear Mr. Old Man If B/L dated 4 months before LC issuance date, is it acceptable? Do we consider as stale B/L? However, the documents were presented within presentation period as LC called for 21 days from LC issuance date. Special condition also stated that documents issued prior to LC issuance date is acceptable. Can we take the B/L …
LC Document Compliance: Consignee Details on Certificate of Origin vs Bill of Lading 17 Nov 2025 Understanding ISBP 821 L5 — A Practical Q&A In trade finance, it’s not uncommon for exporters and document checkers to wonder how far they can “stretch” consignee information on different documents without triggering a discrepancy — especially when a bill of lading is issued “to order” and the certificate of origin (C/O) needs to name a consignee. This question from …
Insurance Documents Under LC – Clarifications on Endorsement, Issuance, and Coverage 16 Nov 2025 Dear Mr. Old Man, Greetings of the day. Hope this email finds you well. I would like to seek your opinion/clarification for the below scenario. All these doubts pertain to the insurance document presented under a Letter of Credit (LC). Query 1 LC Requirement: Insurance in negotiable form and blank endorsed. Scenario: The insurance document shows the assured as the …
Mr. Old Man Is Not Mr. Old Man 15 Nov 2025 Nếu chỉ nhìn tấm ảnh này mà không đọc tút, bạn bè thân quen ai cũng gật gù: “Ờ, đúng rồi, Mr. Old Man đây chứ ai!” Khoan khoan… đừng bé cái nhầm nghe. Người trong ảnh là một anh chàng đẹp trai – mà đẹp theo kiểu đẹp thật – chứ không phải Mr. Old Man đâu nhé! Thành …
Xem Facebook… ngay cả sau khi chết? 13 Nov 2025 Mr. Old Man có một anh bạn Ấn Độ, vốn là chuyên gia ngân hàng nhìn rất đạo mạo, nói chuyện toàn chữ nghĩa hàn lâm. Vậy mà lâu lâu anh ta cũng… chơi lầy. Hôm nay, ảnh post lên LinkedIn một bức biếm họa về chuyện nghiện mạng xã hội. Nhân vật trong tranh: đầu hói, mũi to, mắt …
To Post is To Be – Tôi đăng bài, tôi tồn tại 13 Nov 2025 “To post is to be” được Mr. Old Man chế theo câu nói kinh điển của Hamlet – nhân vật chính trong vở kịch cùng tên của Shakespeare: “To be, or not to be: that is the question.” Tồn tại hay không tồn tại – đó là vấn đề. He he… thời nay đăng hay không đăng cũng thành vấn …
Consignee in the Bill of Lading — How Far Can “On Behalf Of” Go? 12 Nov 2025 Intro: When it comes to the consignee field on a Bill of Lading under an export LC, wording matters — sometimes down to a single phrase like “on behalf of” or “for the account of.” A small variation can change how banks interpret the document and who needs to endorse it. This week’s question from Xona Woo looks at two …
LC Document Compliance: Consignee Details on Certificate of Origin vs Bill of Lading Understanding ISBP 821 L5 — A Practical Q&A In trade finance, it’s not uncommon for exporters and document checkers to wonder how far they can “stretch” consignee information on different documents without triggering a discrepancy — especially when a bill of lading is issued “to order” and the certificate of origin (C/O) needs to name a consignee. This question from … Read More
Insurance Documents Under LC – Clarifications on Endorsement, Issuance, and Coverage Dear Mr. Old Man, Greetings of the day. Hope this email finds you well. I would like to seek your opinion/clarification for the below scenario. All these doubts pertain to the insurance document presented under a Letter of Credit (LC). Query 1 LC Requirement: Insurance in negotiable form and blank endorsed. Scenario: The insurance document shows the assured as the … Read More
Mr. Old Man Is Not Mr. Old Man Nếu chỉ nhìn tấm ảnh này mà không đọc tút, bạn bè thân quen ai cũng gật gù: “Ờ, đúng rồi, Mr. Old Man đây chứ ai!” Khoan khoan… đừng bé cái nhầm nghe. Người trong ảnh là một anh chàng đẹp trai – mà đẹp theo kiểu đẹp thật – chứ không phải Mr. Old Man đâu nhé! Thành … Read More
Xem Facebook… ngay cả sau khi chết? Mr. Old Man có một anh bạn Ấn Độ, vốn là chuyên gia ngân hàng nhìn rất đạo mạo, nói chuyện toàn chữ nghĩa hàn lâm. Vậy mà lâu lâu anh ta cũng… chơi lầy. Hôm nay, ảnh post lên LinkedIn một bức biếm họa về chuyện nghiện mạng xã hội. Nhân vật trong tranh: đầu hói, mũi to, mắt … Read More
To Post is To Be – Tôi đăng bài, tôi tồn tại “To post is to be” được Mr. Old Man chế theo câu nói kinh điển của Hamlet – nhân vật chính trong vở kịch cùng tên của Shakespeare: “To be, or not to be: that is the question.” Tồn tại hay không tồn tại – đó là vấn đề. He he… thời nay đăng hay không đăng cũng thành vấn … Read More
Consignee in the Bill of Lading — How Far Can “On Behalf Of” Go? Intro: When it comes to the consignee field on a Bill of Lading under an export LC, wording matters — sometimes down to a single phrase like “on behalf of” or “for the account of.” A small variation can change how banks interpret the document and who needs to endorse it. This week’s question from Xona Woo looks at two … Read More
One Shipment by Sea, One by Air — How Should the Description of Goods Appear on the B/L? When part of an LC shipment goes by sea and another part goes by air, things can get a little tricky with document presentation. Should the Bill of Lading still reflect both items listed in the credit, or only the goods actually shipped by that mode of transport? Let’s look at what ISBP 821 says — and how to apply … Read More
Who Bears the Risk? Understanding Issuing vs. Nominated Bank Responsibilities under Different LC Availabilities “By payment”, “by negotiation”, “by deferred payment”, “by acceptance” — same LC, different risks. But who really carries the burden when things go wrong?” A common question from trade finance practitioners — and one that sparks more debate than you’d expect. When an LC says “by payment” or “by negotiation”, who really bears the risk if things go sideways? Let’s … Read More
AI làm trợ lý cho người – hay người làm trợ lý cho AI? Có bao giờ bạn nghĩ… người mới là trợ lý của AI chứ không phải ngược lại? Người ta vẫn hay nói: “Hãy dùng AI như một trợ lý của con người.” Nghe quen tai và hợp lý. Nhưng Mr. Old Man lại nghĩ, không phải lúc nào cũng đúng đâu nha. Có khi… con người làm trợ lý cho … Read More
Full Means Full — Describing the Goods in Line with ISBP 821 Intro Sometimes, the devil really is in the description. A letter of credit may ask for a “full description of goods,” and exporters wonder whether they can simplify the wording in their invoice — especially when only one mode of shipment applies. This question from Mr. Nishanth is a good example of how to balance what’s required by the LC … Read More
Mr Old Man LC Document Compliance: Consignee Details on Certificate of Origin vs Bill of Lading Understanding ISBP 821 L5 — A Practical Q&A In trade finance, it’s not uncommon for exporters and document checkers to wonder how far they can “stretch” consignee information on different document… Read More
Who Bears the Risk? Understanding Issuing vs. Nominated Bank Responsibilities under Different LC Availabilities
Mr Old Man LC Document Compliance: Consignee Details on Certificate of Origin vs Bill of Lading Understanding ISBP 821 L5 — A Practical Q&A In trade finance, it’s not uncommon for exporters and document checkers to wonder how far they can “stretch” consignee information on different document… Read More
Who Bears the Risk? Understanding Issuing vs. Nominated Bank Responsibilities under Different LC Availabilities
LC Document Compliance: Consignee Details on Certificate of Origin vs Bill of Lading Understanding ISBP 821 L5 — A Practical Q&A In trade finance, it’s not uncommon for exporters and document checkers to wonder how far they can “stretch” consignee information on different documents without triggering a discrepancy — especially when a bill of lading is issued “to order” and the certificate of origin (C/O) needs to name a consignee. This question from … Read More
Insurance Documents Under LC – Clarifications on Endorsement, Issuance, and Coverage Dear Mr. Old Man, Greetings of the day. Hope this email finds you well. I would like to seek your opinion/clarification for the below scenario. All these doubts pertain to the insurance document presented under a Letter of Credit (LC). Query 1 LC Requirement: Insurance in negotiable form and blank endorsed. Scenario: The insurance document shows the assured as the … Read More
Mr. Old Man Is Not Mr. Old Man Nếu chỉ nhìn tấm ảnh này mà không đọc tút, bạn bè thân quen ai cũng gật gù: “Ờ, đúng rồi, Mr. Old Man đây chứ ai!” Khoan khoan… đừng bé cái nhầm nghe. Người trong ảnh là một anh chàng đẹp trai – mà đẹp theo kiểu đẹp thật – chứ không phải Mr. Old Man đâu nhé! Thành … Read More
Xem Facebook… ngay cả sau khi chết? Mr. Old Man có một anh bạn Ấn Độ, vốn là chuyên gia ngân hàng nhìn rất đạo mạo, nói chuyện toàn chữ nghĩa hàn lâm. Vậy mà lâu lâu anh ta cũng… chơi lầy. Hôm nay, ảnh post lên LinkedIn một bức biếm họa về chuyện nghiện mạng xã hội. Nhân vật trong tranh: đầu hói, mũi to, mắt … Read More
To Post is To Be – Tôi đăng bài, tôi tồn tại “To post is to be” được Mr. Old Man chế theo câu nói kinh điển của Hamlet – nhân vật chính trong vở kịch cùng tên của Shakespeare: “To be, or not to be: that is the question.” Tồn tại hay không tồn tại – đó là vấn đề. He he… thời nay đăng hay không đăng cũng thành vấn … Read More
Consignee in the Bill of Lading — How Far Can “On Behalf Of” Go? Intro: When it comes to the consignee field on a Bill of Lading under an export LC, wording matters — sometimes down to a single phrase like “on behalf of” or “for the account of.” A small variation can change how banks interpret the document and who needs to endorse it. This week’s question from Xona Woo looks at two … Read More
One Shipment by Sea, One by Air — How Should the Description of Goods Appear on the B/L? When part of an LC shipment goes by sea and another part goes by air, things can get a little tricky with document presentation. Should the Bill of Lading still reflect both items listed in the credit, or only the goods actually shipped by that mode of transport? Let’s look at what ISBP 821 says — and how to apply … Read More
Who Bears the Risk? Understanding Issuing vs. Nominated Bank Responsibilities under Different LC Availabilities “By payment”, “by negotiation”, “by deferred payment”, “by acceptance” — same LC, different risks. But who really carries the burden when things go wrong?” A common question from trade finance practitioners — and one that sparks more debate than you’d expect. When an LC says “by payment” or “by negotiation”, who really bears the risk if things go sideways? Let’s … Read More
AI làm trợ lý cho người – hay người làm trợ lý cho AI? Có bao giờ bạn nghĩ… người mới là trợ lý của AI chứ không phải ngược lại? Người ta vẫn hay nói: “Hãy dùng AI như một trợ lý của con người.” Nghe quen tai và hợp lý. Nhưng Mr. Old Man lại nghĩ, không phải lúc nào cũng đúng đâu nha. Có khi… con người làm trợ lý cho … Read More
Full Means Full — Describing the Goods in Line with ISBP 821 Intro Sometimes, the devil really is in the description. A letter of credit may ask for a “full description of goods,” and exporters wonder whether they can simplify the wording in their invoice — especially when only one mode of shipment applies. This question from Mr. Nishanth is a good example of how to balance what’s required by the LC … Read More
Mr Old Man LC Document Compliance: Consignee Details on Certificate of Origin vs Bill of Lading Understanding ISBP 821 L5 — A Practical Q&A In trade finance, it’s not uncommon for exporters and document checkers to wonder how far they can “stretch” consignee information on different document… Read More
Who Bears the Risk? Understanding Issuing vs. Nominated Bank Responsibilities under Different LC Availabilities
Mr Old Man LC Document Compliance: Consignee Details on Certificate of Origin vs Bill of Lading Understanding ISBP 821 L5 — A Practical Q&A In trade finance, it’s not uncommon for exporters and document checkers to wonder how far they can “stretch” consignee information on different document… Read More
Who Bears the Risk? Understanding Issuing vs. Nominated Bank Responsibilities under Different LC Availabilities
Mr Old Man LC Document Compliance: Consignee Details on Certificate of Origin vs Bill of Lading Understanding ISBP 821 L5 — A Practical Q&A In trade finance, it’s not uncommon for exporters and document checkers to wonder how far they can “stretch” consignee information on different document… Read More
Who Bears the Risk? Understanding Issuing vs. Nominated Bank Responsibilities under Different LC Availabilities
Mr Old Man LC Document Compliance: Consignee Details on Certificate of Origin vs Bill of Lading Understanding ISBP 821 L5 — A Practical Q&A In trade finance, it’s not uncommon for exporters and document checkers to wonder how far they can “stretch” consignee information on different document… Read More
Who Bears the Risk? Understanding Issuing vs. Nominated Bank Responsibilities under Different LC Availabilities
LC Document Compliance: Consignee Details on Certificate of Origin vs Bill of Lading 17 Nov 2025 Understanding ISBP 821 L5 — A Practical Q&A In trade finance, it’s not uncommon for exporters and document checkers to wonder how far they can “stretch” consignee information on different documents without triggering a discrepancy — especially when a bill of lading is issued “to order” and the certificate of origin (C/O) needs to name a consignee. This question from …
Insurance Documents Under LC – Clarifications on Endorsement, Issuance, and Coverage 16 Nov 2025 Dear Mr. Old Man, Greetings of the day. Hope this email finds you well. I would like to seek your opinion/clarification for the below scenario. All these doubts pertain to the insurance document presented under a Letter of Credit (LC). Query 1 LC Requirement: Insurance in negotiable form and blank endorsed. Scenario: The insurance document shows the assured as the …
Mr. Old Man Is Not Mr. Old Man 15 Nov 2025 Nếu chỉ nhìn tấm ảnh này mà không đọc tút, bạn bè thân quen ai cũng gật gù: “Ờ, đúng rồi, Mr. Old Man đây chứ ai!” Khoan khoan… đừng bé cái nhầm nghe. Người trong ảnh là một anh chàng đẹp trai – mà đẹp theo kiểu đẹp thật – chứ không phải Mr. Old Man đâu nhé! Thành …
Xem Facebook… ngay cả sau khi chết? 13 Nov 2025 Mr. Old Man có một anh bạn Ấn Độ, vốn là chuyên gia ngân hàng nhìn rất đạo mạo, nói chuyện toàn chữ nghĩa hàn lâm. Vậy mà lâu lâu anh ta cũng… chơi lầy. Hôm nay, ảnh post lên LinkedIn một bức biếm họa về chuyện nghiện mạng xã hội. Nhân vật trong tranh: đầu hói, mũi to, mắt …
To Post is To Be – Tôi đăng bài, tôi tồn tại 13 Nov 2025 “To post is to be” được Mr. Old Man chế theo câu nói kinh điển của Hamlet – nhân vật chính trong vở kịch cùng tên của Shakespeare: “To be, or not to be: that is the question.” Tồn tại hay không tồn tại – đó là vấn đề. He he… thời nay đăng hay không đăng cũng thành vấn …
Consignee in the Bill of Lading — How Far Can “On Behalf Of” Go? 12 Nov 2025 Intro: When it comes to the consignee field on a Bill of Lading under an export LC, wording matters — sometimes down to a single phrase like “on behalf of” or “for the account of.” A small variation can change how banks interpret the document and who needs to endorse it. This week’s question from Xona Woo looks at two …
One Shipment by Sea, One by Air — How Should the Description of Goods Appear on the B/L? 12 Nov 2025 When part of an LC shipment goes by sea and another part goes by air, things can get a little tricky with document presentation. Should the Bill of Lading still reflect both items listed in the credit, or only the goods actually shipped by that mode of transport? Let’s look at what ISBP 821 says — and how to apply …
Who Bears the Risk? Understanding Issuing vs. Nominated Bank Responsibilities under Different LC Availabilities 12 Nov 2025 “By payment”, “by negotiation”, “by deferred payment”, “by acceptance” — same LC, different risks. But who really carries the burden when things go wrong?” A common question from trade finance practitioners — and one that sparks more debate than you’d expect. When an LC says “by payment” or “by negotiation”, who really bears the risk if things go sideways? Let’s …
AI làm trợ lý cho người – hay người làm trợ lý cho AI? 11 Nov 2025 Có bao giờ bạn nghĩ… người mới là trợ lý của AI chứ không phải ngược lại? Người ta vẫn hay nói: “Hãy dùng AI như một trợ lý của con người.” Nghe quen tai và hợp lý. Nhưng Mr. Old Man lại nghĩ, không phải lúc nào cũng đúng đâu nha. Có khi… con người làm trợ lý cho …
Full Means Full — Describing the Goods in Line with ISBP 821 10 Nov 2025 Intro Sometimes, the devil really is in the description. A letter of credit may ask for a “full description of goods,” and exporters wonder whether they can simplify the wording in their invoice — especially when only one mode of shipment applies. This question from Mr. Nishanth is a good example of how to balance what’s required by the LC …
Who Bears the Risk? Understanding Issuing vs. Nominated Bank Responsibilities under Different LC Availabilities
Mr Old Man LC Document Compliance: Consignee Details on Certificate of Origin vs Bill of Lading Understanding ISBP 821 L5 — A Practical Q&A In trade finance, it’s not uncommon for exporters and document checkers to wonder how far they can “stretch” consignee information on different document… Read More
Who Bears the Risk? Understanding Issuing vs. Nominated Bank Responsibilities under Different LC Availabilities
Mr Old Man LC Document Compliance: Consignee Details on Certificate of Origin vs Bill of Lading Understanding ISBP 821 L5 — A Practical Q&A In trade finance, it’s not uncommon for exporters and document checkers to wonder how far they can “stretch” consignee information on different document… Read More
Who Bears the Risk? Understanding Issuing vs. Nominated Bank Responsibilities under Different LC Availabilities