AI LEO ĐỈNH QUẾ THÌ LEO! Nhiều bạn có ý định đạp xe lên đỉnh Quế (Tây Giang, Quảng Nam) săn mây nhưng vẫn còn ngần ngại vì nghe đồn rằng đạp xe lên đỉnh Quế khó gấp 10 lần đạp xe leo đỉnh Khỉ Già. Vậy điều đồn đoán đó có đúng không? Câu trả lời là ĐÚNG và KHÔNG ĐÚNG. ĐÚNG nếu như bạn … Read More
SHORT SHIPMENT OR PARTIAL SHIPMENT? Actually, this is not a Q&A but rather a discussion between me and Bogdan, a trade finance expert I have known since we were both editors of LC Monitor (Trade Services Update) 15 years ago. However, the interesting thing is that it was only now that Bogdan discovered that I am also known as Mr. Old Man, when he searched … Read More
ĐẠP XE CŨNG CẦN TRUNG THỰC Đạp xe thôi, có cần trung thực? Câu trả lời là có đấy, đạp xe cũng cần phải trung thực, trước hết là trung thực với chính mình. Nghe có vẻ dễ dàng nhưng nhiều người đi xe đạp đã thất bại khi phải trung thực 100% với chính mình, đặc biệt khi bạn cùng với nhiêu người khác tham … Read More
CAN THE APPLICANT CHANGE THE BENEFICIARY’S ADDRESS AS PER THE BENEFICIARY’S STAMP ON THE PROFORMA INVOICE? QUESTION Dear Sir, The beneficiary’s address on the proforma invoice is slightly different from the stamp of beneficiary on it. So, the applicant wants to change the address as per stamp. Is this allowed? Regards Jawad Askari Bank Pakistan. —- ANSWER Hi, LC would be issued based on the contract or proforma invoice provided by the applicant. However, LC by … Read More
ORIGINAL BILLS OF LADING MUST INDICATE NUMBER OF ORIGINALS ISSUED QUESTION Dear Mr. Old Man, The beneficiary provides a draft bill of lading to his bank for checking before the shipping line issues the original bill of lading. The draft bill of lading shows “No of Copies: THREE (3)” (see attachment). The bank notes that the words “No of Copies” should be changed to “Number of Originals”. Do you think … Read More
LETTERS OF CREDIT V. CONTRACTS QUESTION Dear Sir, As always, your help is really appreciated. Need your expert opinion on the scenario below: There is a change in the unit price of a product in the presented original documents which is more/less than the actual price mentioned in the Letter of credit. However, the Proforma invoice indicates that the rate could change on the basis … Read More
MONKEY MOUNTAIN CHALLENGE 2025 UPDATE: THE EXCITING “UNDERGROUND BATTLE” CẬP NHẬT MONKEY MOUNTAIN CHALLENGE 2025: CUỘC CHIẾN NGẦM HẤP DẪN Có ít nhất 3 cua rơ đang chinh phục thách thức Monkey Mountain Challenge 2025 (*) với mục tiêu phá sâu kỷ lục 300 lượt của Nga Nguyen vừa mới thiết lập năm 2024. Theo ghi nhận của Strava, có 2 cua rơ (một nam và một nữ) đặt … Read More
INSURANCE CERTIFICATE COVERING ALL RISKS AND WAR RISK CONTAINS INSTITUTE WAR CANCELLATION CLAUSE Special Q&A with comments from TSU editors who are international experts on letters of credit. It may be published in the next issue of LC Monitor/Trade Services Update. QUESTION Dear Mr. Old Man, This is Phoebe. I’ve been your follower since 2021 when I started to work in the import-export industry, and firstly I’d like to say thank you for … Read More
WHEN DOES THE CONFIRMING BANK INSIST ON THE LC TO INCLUDE A REIMBURSEMENT BANK? QUESTION Dear Mr. Old Man, I hope you are having a good day. Referring to your article “Bank to bank reimbursement under LCs” on March 5, 2010 I have asked a question. If the nominated bank is adding its confirmation to LC, can it request the issuing bank to amend the LC to include a reimbursing bank to get control … Read More
WHEN DOCUMENTS ARE PRESENTED AFTER THE LC EXPIRY DATE QUESTION Dear Mr. Old Man, I have a question as follows: Is there any ICC opinion on the situation where the issuing bank can return the documents on the grounds that the documents are presented after the LC expiry date? If the Applicant has received the goods, is the issuing bank obliged to pay the documents? Is there a case … Read More