TÌM LẠI THÓI QUEN ĐỌC SÁCH Sáng nay tranh thủ dọn dẹp tủ sách cũ chào đón năm mới, Mr. Old Man bắt gặp lại những cuốn sách dày cộm bìa cứng được mua từ Nhà sách ngoại văn Đà Nẵng từ những năm cuối thập niên 70 của thế kỷ trước. Đó là những tuyển tập truyện ngắn và tiểu thuyết của các đại văn … Read More
WHETHER A CONGENBILL IS A CHARTER PARTY BILL OF LADING Intro In LC practice, confusion between liner bills of lading and charter party bills of lading is still very common. Things become even messier when an LC specifically names a Congenbill form but does not explicitly say: “Charter Party Bill of Lading acceptable.” Does that omission automatically mean that only an ocean (liner) bill of lading is allowed? The following … Read More
DISCUSSING FORCE MAJEURE SITUATIONS IN LC TRANSACTIONS Yesterday on New Year’s Day 2024, Central Japan suffered terrible earthquakes, causing many houses and roads to collapse and many people to die. The earthquakes caused Mr. Old Man recalls the 8.9 magnitude earthquake accompanied by a 10-meter high tsunami that occurred in Japan on March 11, 2011. That day, together with Kim Sindberg, Editor-in-Chief of Trade Services Update, Mr. … Read More
THANK YOU AND BEST WISHES FOR THE NEW YEAR 2024 Dear all readers, The new year 2024 has come at last. I would like to take this opportunity to thank you for your interesting questions and comments made to Mr. Old Man’s blog. Without such questions there would be no Mr. Old Man’s blog. I must admit that when trying to answer your questions I also learnt a lot from them. … Read More
HOW TO BECOME AN EXPERT IN TRADE FINANCE 12 years ago an Indian reader said he downloaded all the articles and Q&A from the website “Mr. Old Man – For those who eat, sleep and breathe Letters of Credit” and printed them out with more than 1500 pages. He also asked me how to become a trade finance expert and I answered him. Recently I was very happy … Read More
LIỆU CÓ PHẢI GIAO DỊCH RỬA TIỀN? QUESTION Em chào anh, Liên quan đến Rửa tiền, em kính nhờ anh giúp em một case mà em chưa có cơ sở từ chối. Khách hàng bên em nhập khẩu than. Tuy nhiên, hợp đồng qui định phải ứng trước tiền khoảng 20-50%, và khoản ứng trước này phải được thanh toán bằng LC dựa trên hoá đơn và … Read More
WHERE THE DOCUMENTS WERE DESTROYED QUESTION Dear Mr. Old Man, I have a question for you. Let’s assume that the nominated bank received a presentation from the beneficiary and determined that the documents were complying with the terms and conditions of the LC. However, the documents were destroyed by accident while waiting for DHL to pick up. Can the nominated bank claim reimbursement from the … Read More
NEGOTIATION WITH RECOURSE AND NEGOTIATION WITHOUT RECOURSE QUESTION Kính gửi Mr. Old Man: Tôi muốn biết Lãi suất và Phí, Tỷ lệ và Thời hạn chiết khấu hố phiếu/chứng từ xuất trình kèm theo theo LC và chứng từ nhờ thu theo 2 hình thức CÓ TRUY ĐÒI VÀ MIỄN TRUY ĐÒI thông thường có khác nhau không và lý do dẫn đến sự khác nhau đó. … Read More
WHETHER THE ON BOARD NOTATION MUST ALWAYS INDICATE THE NAME OF THE VESSEL AND THE PORT OF LADING QUESTION Dear Mr. Old Man, The following LC clause: 44E: Any Australia port 44F: Laem Chabang/Bangkok port Thailand 44B: Bangkok, Thailand 46A: Full set ocean BL consigned to order blank endorsed, marked freight prepaid. If multimodal BL is presented, the on board notation needs to indicate the port of loading and name of the vessel. The BL presented indicates: Pre-carriage … Read More
WHERE THE DOCUMENTS ARE PRESENTED UNDER THE EXPIRED LC QUESTION Hello Mr.Old Man: Here is my case. I hope you have time to review and share with me your opinion. The beneficiary presented the documents to the confirming bank after expiry of the LC, the confirming bank sent the presenting bank a swift refusing to honour or negotiate the documents stating the following discrepancies: LC expired. Late remittance And asked … Read More