LC REQUIRING PRESENTATION OF 3/3 ORIGINAL NON-NEGOTIABLE BILL OF LADING QUESTION Dear Mr. Old Man, Happy Lunar New Year! We have a question related to the bill of lading as follows, I hope to receive your advice: Field 46A (Documents required) stipulates: FULL SET OF CLEAN ON-BOARD OCEAN BILL OF LADING IN 3/3 ORIGINAL NON-NEGOTIABLE, MADE OUT TO THE ORDER OF PT. BANK MANDIRI (PERSERO) TBK., MARKED FREIGHT PREPAID, … Read More
WHY NOT WRITE A BOOK? Some of my friends asked me why I don’t write books on international payments and trade finance because they believe that with my practical experience, my books will be very good. Recently, I had dinner with Nesarul Hoque, a friend I have known for about 20 years. He is an ICC member who participated in drafting ISBP 821E, ICC Briefing, … Read More
SHOULD THE CONCEPT OF “NEGOTIATION” CONTINUE TO EXIST IN THE UCP? Nguyen Huu Duc The recent UCP revision process has had debates on the question “Should the concept of “negotiation” continue to exist in the future UCP revision?”. Some experts believe that ICC should remove the type of letter of credit available by negotiation from the upcoming UCP revision, while many experts believe that the concept of “negotiation” should continue to … Read More
LIỆU KHÁI NIỆM “CHIẾT KHẤU” CÓ NÊN TIẾP TỤC TỒN TẠI TRONG UCP? Về vấn đề chiết khấu (negotiation) trong giao dịch thư tín dụng, gần 20 năm trước Mr. Old Man đã có nhiều bài viết đăng trên các tạp chí ngành tài chính – ngân hàng như: Bàn về vấn đề chiết khấu trong giao dịch thư tín dụng (Tạp chí Ngân hàng số 10 tháng 5/2007); Bàn về thuật ngữ … Read More
7 DAY CYCLING CHALLENGE Ngày này 3 năm trước Mr. Old Man tham gia thách thức Đạp xe Chill phết đạp xe 7 ngày để tìm ra Top 5 cua rơ đạp xe nhiều nhất với sự tham gia của nhiều cua rơ phong trào cả nước. Cuộc đua hấp dẫn từng ngày khi kết quả liên tục được cập nhật trên Strava. Có … Read More
CAN THE ISSUING BANK AUTHORIZE THE REIMBURSING BANK TO REIMBURSE DIRECTLY TO THE BENEFICIARY’S ACCOUNT? QUESTION Dear Mr. Old Man, I ‘d like to ask you about rules or practice related to settlement process to beneficiary as follow: Related parties in the LC: Bank A: as issuing bank Bank B: as presenting bank Beneficiary C in the LC Can bank A remit directly to beneficiary C‘s account rather than transfer to bank B’s account indicating … Read More
MONKEY MOUNTAIN CHALLENGE 2025: LET’S GO! Sau kỷ lục 300 lượt đạp xe leo đỉnh Khỉ Già do Nga Nguyen thiết lập 2024, nhiều anh chi em chơi xe đạp Đà Nẵng cũng đã thử sức chinh phục Monkey Moutain Challenge 2025 với mục tiêu phá kỷ lục của Nga Nguyen. Đây là tín hiệu vui cho phong trào xe đạp Đà Nẵng. Một nam cua … Read More
CAN AN AIR WAYBILL BE ISSUED TO ORDER BLANK ENDORSED? Intro In documentary credit practice, it is not uncommon to see LC requirements drafted with a strong “bill of lading mindset”, even when the mode of transport is air. One such recurring requirement is the presentation of an air waybill issued “to order” and blank endorsed. This raises an important question: Is such a requirement correct, and does it make … Read More
WEBSITE REVIEW: WWW.MROLDMAN.NET Dear Readers, First of all, I would like to thank you for your interest in and following my website www.mr.oldman.net (Mr. Old Man – For Those Who Eat, Sleep and Breathe Letters of Credit) and hope to continue receiving your interest. I created this website in 2018 based on my WordPress website of the same name www.nhducdng.wordpress.com created in 2010. … Read More
WHETHER A DUPLICATE INSURANCE DOCUMENT IS TREATED AS AN ORIGINAL QUESTION Dear Mr. Old Man, So sorry to keep asking your opinion of these matters sir but can you please give me any suggestions when an applicant requests a duplicate insurance policy in the LC itself. So my question is: Is duplicate insurance policy even valid and can be used to make claims if need be? What about the original … Read More