DISCOUNTING A DEFERRED PAYMENT UNDERTAKING 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 … Read More
CAN AN EXPIRED LETTER OF CREDIT BE AMENDED TO EXTEND THE EXPIRY DATE? 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 … Read More
VIETNAM’S FIRST CYCLIST TO COMPLETE EVERESTING HAI VAN PASS According to a post shared by Văn Tài Lê, on May 20, 2025, under scorching sun and harsh winds on Hải Vân Pass, cyclist Duy Ho officially took on the Everesting Hải Vân challenge—and successfully completed it at 2:30 AM on May 21, 2025. After 20 grueling ascents, totaling 22 hours, 24 minutes, and 8 seconds, Duy Ho reached an … Read More
ĐÃ XUẤT HIỆN CUA-RƠ VIỆT NAM ĐẦU TIÊN HOÀN THÀNH EVERESTING HẢI VÂN Theo chia sẻ từ bạn Văn Tài Lê, ngày 20/5/2025, trong điều kiện nắng gió khắc nghiệt tại đèo Hải Vân, cua-rơ Duy Ho đã chính thức thực hiện thử thách Everesting Hải Vân – và hoàn thành xuất sắc vào lúc 2h30 sáng ngày 21/5/2025. Sau 20 lượt leo, với tổng thời gian 22 giờ 24 phút 8 giây, … Read More
THỐNG KÊ TRUY CẬP TRANG WEB WWW.MROLDMAN.NET (21/4 – 21/5) Hôm nay, tình cờ ghé vào mục Statistics, Mr. Old Man thật sự ngạc nhiên khi thấy số lượng bạn đọc truy cập trang web www.mroldman.net trong vòng 30 ngày qua (từ 21/4 đến 21/5): 7.480 người dùng đã ghé thăm website Tổng cộng 79.400 lượt xem Điều thú vị là trang web đã đón nhận bạn đọc từ hàng trăm quốc … Read More
ADVANCE PAYMENT & SBLC ANSWER Dear Mr. Old Man, Good day! The seller and the buyer agree to sign a sale contract with the following terms and conditions: The buyer will pay in advance the full contract value. The seller will effect shipment upon receipt of full payment from the buyer. Can the buyer request the seller to provide an SBLC to guarantee advance … Read More
DISCREPANCY ARISING FROM MISMATCH IN PAYMENT TERMS ON INVOICE vs. LC Champa Dancing Apsara Relief QUESTION Dear Sir, Sorry to bore you with this irrelevant question but just out of curiosity is there any importance of payment term mentioned in the commercial invoice. Because as per ISBP the invoice must portray the contents mentioned in the field 45a of the L/C. So, if the payment term as per credit is 180 days … Read More
UNDERSTANDING THE ROLE AND OBLIGATIONS OF A NOMINATED BANK UNDER A NEGOTIATION CREDIT QUESTION Dear Sir, If I receive a Letter of Credit (LC) advised to me with the clause “Available by negotiation at any bank; At Sight,” is my next step to ask my bank whether it will act as the negotiating bank, and request a written confirmation if it agrees? I understand that a nominated bank has no obligation to negotiate … Read More
THE LOVE STORY OF AN AMERICAN SOLDIER AND A VIETNAMESE GIRL A memory kept quiet for half a century, and still echoing through time. Illustration photo A Message Beneath the Photo Last week, I posted a picture from a bike ride over the misty curves of Hải Vân Pass. Beneath it, a quiet comment appeared. It was from R.I., an American who had once crossed that very road—in the 1970s—when he … Read More
RETURNING TO THE OLD BRICK KILN OF DUY VINH From Forgotten Landmark to Trending Spot The old brick kiln, long abandoned in the middle of the Duy Vinh rice fields, suddenly shot to fame after young travel enthusiasts discovered it and began sharing photos on Facebook. Recently, a young woman with an eye for quirky business ideas seized the opportunity—not only to earn money but to pursue her passion. … Read More