Unit Price in Invoice vs. Proforma Invoice – Discrepancy or Not? Intro Again, folks! Time for another round of LC puzzles with Mr. Old Man. This week’s classic case comes from the Himalayas (yes, the literal Himalayas!) where our friend Suraj at Himalayan Bank is wondering: “If the unit price in a presented commercial invoice differs from what was in the proforma invoice used when the LC was issued—but the LC … Read More
Freight Collect Vs. Freight As Arranged – Discrepancy or Not? Quick Question, Quick Answer by Mr. Old Man — 30 Seconds. Too fast too furious??? Read More
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