Mr. Old Man For those who eat, sleep and breathe Letters of Credit & Cycling

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 …

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 …

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 …

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, …

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 …

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 …

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 …

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 …

Chỉ cách Đà Nẵng 25 km về phía Tây, Hòa Bắc là một xã vùng quê yên bình và đẹp như tranh vẽ. Từ con đường chạy dọc theo sườn đồi nhìn xuống có thể thấy mấy thôn Trường Định, An Định, Nam Yên và Phò Nam hợp thành một thung lũng hẹp nằm lọt thỏm giữa một bên là …

Vừa mới lập được kỳ tích vô tiền khoáng hậu “nữ cua rơ Việt Nam đầu tiên chinh phục 549 km sau 24 giờ đạp xe liên tục”, Katie Bardsley (Bùi Thị Phúc), bà mẹ 32 tuổi một nách hai con, lại muốn chinh phục một thử thách khác chỉ vài người Việt Nam từng làm được, đó là Everesting …

Katie Bardsley (Vietnamese name is Bui Thi Phuc, 32 years old) just completed 549 km after 24 hours of continuous cycling to become the first female cyclist in Vietnam to set an unprecedented record. The 24-hour cycling event organized by the Da Nang Cycling Association aimed to raise funds to support local charity programs and Katie was the main character …

Katie Bardsley (tên Việt là Bùi Thị Phúc, 32 tuổi) vừa mới hoàn thành 549 km sau 24 giờ đạp xe liên tục để trở thành nữ cua-rơ xe đạp phong trào đầu tiên của Việt Nam thiết lập kỷ lục vô tiền khoáng hậu này. Sự kiện đạp xe 24 giờ  do Hội Xe đạp Thể thao TP Đà …

Cuối năm 2014 khi xảy ra vụ tranh chấp lùm xùm giữa Thừa Thiên Huế và Đà Nẵng liên quan đến Dự án World Shine Resort Complex dự định triển khai ở mũi Cửa Khẻm, Mr. Old Man đã đạp xe một mình leo đèo Hải Vân, theo lối mòn gồ ghề xuyên rừng tìm đường ra Cửa Khẻm rồi …

  24 HOUR CHARITY CYCLING EVENT WITH KATIE & FRIENDS Conquer Yourself – Connect Passion – Share Love “24 HOUR CHARITY CYCLING EVENT WITH KATIE & FRIENDS” is an event organized by Da Nang Cycling Association to raise funds to support patients of Da Nang Cancer Hospital and Newborns Vietnam in Da Nang. Katie will cycle continuously for 24 hours …