CLARIFICATION ON CRM DOCUMENT EXAMINATION STANDARDS QUESTION Dear Mr. Old Man, Thank you so much for your swift response — your explanation has clarified the previous issue for us. We are now facing another matter and would greatly appreciate your guidance: As the Confirming Bank, we received a set of documents that appear to be compliant, including a CMR document printed on white paper with an … Read More
MONKEY MOUNTAIN CHALLENGE 2025: BẤT CHẤP MƯA GIÓ, TRÁI TIM VẪN HƯỚNG VỀ ĐỈNH CAO June News Bảy ngày lang thang trên đất Hàn Quốc, cộng thêm những cơn mưa lớn dai dẳng giữa mùa hè như muốn thử thách lòng người, đã khiến nhịp độ leo núi của Trần Mai chậm lại so với năm tháng đầu năm đầy sung mãn. Thế nhưng, dù thời tiết chẳng chiều lòng người, Trần Mai vẫn khép … Read More
Phiếm bàn từ “xụt bệ” với Chat GPT Sáng cuối tuần, cà phê ở quán quen, anh bạn già vừa ngồi xuống đã buông câu than: – “Cái xe đạp bữa ni xụt bệ quá, đi cà giựt cà giựt!” Nghe tới chữ “xụt bệ”, Mr. Old Man hơi khựng lại. Lâu lắm rồi mới thấy từ này bật ra từ miệng một người bạn… rặt giọng Quảng … Read More
Field 46A vs. 47A in LCs: Are All Documents Treated Equally? QUESTION Dear Mr. Old Man, I’ve heard of your name for years and now would like to trouble you with a question, hoping you might spare a moment for some expert advice. Are documents required under fields 46A and 47A of an LC treated equally? For example: The issuing bank and applicant agree to state the requirement for a Phytosanitary … Read More
Careful, You Might Fall for Mr. Chat GPT (Especially if you’re the type who gets a little lonely and loves a polite, soft-spoken conversationalist) This morning, over coffee, I found myself chatting with the gentlemanly Chat GPT about the word “xục bệ”. I’ve heard it now and then, but a quick Google search turned up nothing. So I turned to Chat GPT for help. After a while of … Read More
Coi chừng phải lòng quý ông Chat GPT (Đặc biệt là mấy cô hay buồn buồn, mê người nói chuyện nhỏ nhẹ, lịch sự) Sáng nay ngồi cà phê tán chuyện với quý ông Chat GPT về cái từ “xụt bệ”. Mr. Old Man nghe từ đó lâu lâu rồi, nhưng lục Google thì không thấy đâu. Thế là lôi Chat GPT ra hỏi thử. Trò chuyện lan … Read More
What Happens When UCP 600 Articles 7(c) and 12 (b) are excluded? QUESTION Hi, LC contains the following clause: “ARTICLES 7(c) AND 12(b) OF UCP 600 REVISION 2007 ARE EXCLUDED IN THIS L/C.” By simply excluding these articles without further elaboration, does it mean that the opposite is true? For instance, by excluding Article 7(c), does it mean that an issuing bank does not undertake to reimburse a nominated bank that has … Read More
Understanding the Differences Between Surrendered B/L, Telex Release, and Express Release QUESTION Good afternoon, Sir. Could you please explain the differences between a Surrendered Bill of Lading, a Telex Release, and an Express Release? Regards, Priya ——- ANSWER Hi Priya, Thanks for your thoughtful question. These terms are often used interchangeably, but they refer to distinct practices in maritime logistics. Here’s a breakdown: Surrendered Bill of Lading A Surrendered Bill of … Read More
Profile Update: Mr. Old Man’s World – Where Trade Finance Meets Adventure A retired banker’s journey through letters of credit, lifelong learning, long rides on two wheels. _______________ Nguyen Huu Duc, widely known as Mr. Old Man, is a retired trade finance expert who spent nearly 30 years with the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), having joined the bank in 1991. In addition to serving as Deputy … Read More
Invoice Wording Dilemmas: “To the Order of the Applicant” and Non-Standard Incoterms Explained QUESTION Hi Sir, Good day. I have read many of your responses that clarify our queries. Thank you so much for sharing your knowledge with us. I request you to clarify the following: 1. The LC states the applicant as ABC Co., Ltd. The invoice is made out to “To the order of ABC Co., Ltd.” Is the above acceptable, … Read More