This Q&A is a continuation of the Q&A regarding Hong Kong being a Chinese port ⸻ QUESTION Dear Mr. Old Man, I’ve heard that if an L/C stipulates the port of loading as “Any port in China” or “Any Chinese port,” then a bill of lading showing Hong Kong as the port of loading is acceptable. Could you confirm if …

QUESTION Dear Mr. Old Man, Your opinion on the following matter would be much appreciated: An LC specifies the following conditions: Port of loading : Any Chinese port Delivery terms: FOB any Chinese port However, the documents presented show: Bill of Lading: Shipped on board at Hong Kong Commercial Invoice: Delivery terms stated as FOB Hong Kong I understand that …

QUESTION Hi sir, Hope this mail finds you well. I wanted to confirm regarding an L/C that allows reimbursement authority under Field 49 marked as “MAY ADD.” Our bank maintains a Nostro account, and we usually issue MT740 to authorize the reimbursing bank to pay when claimed by the nominated or negotiating bank. Can we also add reimbursement authorization in …

QUESTION Dear Mr. Old Man, Seek your view on the below- LC calls for original survey report by SGS. The document presented is a photocopy in black and white  with the word “ORIGINAL” stamped on it with red ink.  The SGS signatures are also not original.  LC does not require manual signature. Therefore, per UCP article 17 C iii, is it …

Trong bối cảnh mạng xã hội ngày càng trở nên hỗn tạp và thiên về giải trí, hiếm có một trang cá nhân nào giữ được sự cân bằng giữa giá trị chuyên môn sâu sắc và nội dung truyền cảm hứng sống lành mạnh như trang Facebook của ông Nguyễn Hữu Đức, hay còn được nhiều người trong giới …

QUESTION Hi Sir, Hope everything is going well. I wanted to highlight a confusion of mine its more of a silly question. The thing is in an insurance policy we need to know the overall coverage of the insurance from the place of loading the consignment to its ultimate destination. Sometimes we find the policy only mentions the actual voyage details only, …

Ngày 20/5/2025 lúc 3:42 sáng, cua-rơ Hồ Xuân Duy (Duy Ho), thành viên CLB xe đạp C5 Hà Nội, bắt đầu thử thách Everesting Hải Vân. Sau 20 lượt leo liên tục trong 22 giờ 24 phút 08 giây, anh đã chạm mốc tổng độ cao tích lũy 9.020 mét – vượt qua độ cao đỉnh Everest (8.848 mét) – …

QUESTION Chào Mr. Old Man, Nhờ Mr. Old Man giải đáp giúp  2 tình huống sau: 1. Ngân hàng trong nước có được phép phát hành bảo lãnh quốc tế bằng ngoại tệ cho doanh nghiệp Việt Nam để tham gia đấu thầu quốc tế không? 2. Ngân hàng trong nước có được phát hành bảo lãnh thay mặt cho …

QUESTION Dear Mr. Old Man, I have a question regarding the discounting of documents under a letter of credit. Normally, when discounting documents under an LC, banks require the presentation of a draft (bill of exchange) as a mandatory document. However, in the case of an LC available by deferred payment, where no draft is required, is it still necessary …

Two little girls at Thanh Khe Beach QUESTION Dear Mr. Old Man, Can an expired letter of credit (LC) be amended to extend its expiry date? Is there any rule that explicitly prevents such an amendment? Thank you, P. ———- ANSWER Hi P., The short answer is: it depends. Under UCP 600, sub-article 10(a), a letter of credit—unless otherwise stipulated …