QUESTION Dear my expert friend “Old Man”, I have the following question: A beneficiary received a confirmed Letter of Credit issued by Bank A. The beneficiary assigned the proceeds to Bank B and subsequently requested Bank B to issue another Letter of Credit.   Is Bank B entitled to require the beneficiary to waive their right to accept or reject …

QUESTION Dear Old Man, Please guide: Scenario: – LC issued MT-700 by MCBLMUMUXXX MAURITIUS – LC received and transmitted by BOMLAEADFTC UAE to BAFL-India via MT-710 – LC requested and confirmed by BOMLAEADFTC UAE – All charges outside (ALL LOCAL AND FOREIGN WHETHER WITHIN OR OUTSIDE IS ACCOUNT OF APPLICANT) – Available by BOMLAEADFTC UAE Payment – 1st confirming bank: …

One of the most misunderstood provisions in documentary credits is the famous “21-day rule” under Article 14(c) of UCP 600. Some bankers treat it as a rule applicable only to the bill of lading. Others assume that as long as documents are presented before the L/C expiry date, everything is fine. And then comes the classic confusion: “If the credit …

Một trong những câu hỏi Mr. Old Man thường xuyên nhận được từ bạn bè, đồng nghiệp cũ — nhất là mấy ông chưa tới tuổi về hưu — là: “Anh nghỉ hưu rồi, có làm gì thêm cho đỡ buồn không?” Thật ra, nghỉ hưu xong có kiếm việc làm thêm hay không còn tùy vô hoàn cảnh mỗi …

Two passionate and vibrant riders, Trần Mai and Hương Hana, have become the dream team in this year’s Monkey Mountain Challenge 2025. Each sets her own personal goal, but both share one thing in common: the fierce will to conquer themselves. Trần Mai has taken on a mountain-sized mission: to become the cyclist who climbs Monkey Mountain the most in …

Hai nữ cua-rơ xinh đẹp và đầy nhiệt huyết, Trần Mai và Hương Hana, đã trở thành một cặp đôi hoàn hảo trong hành trình chinh phục thử thách Monkey Mountain Challenge 2025. Mỗi người đều theo đuổi một mục tiêu riêng, nhưng có chung một điểm: quyết tâm vượt qua giới hạn bản thân. Trần Mai đặt ra mục …

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 …