QUESTION Dear Mr. Old Man, I have a question that needs your help. An LC issued by AGRIBANK requires the bill of lading to be “made out to order of AGRIBANK.” However, the presented bill of lading is made out to the order of BNP Paribas (Suisse) SA, and is endorsed in succession as follows: • BNP Paribas (Suisse) SA …

Subject: LC issued by K. BANK – Refusal to Confirm and Subsequent Presentation From: Mr. Old Man Date: 4 June 2025 Background Bank N received a letter of credit (LC) from K. BANK with the following terms: 41A: Available With Bank N By Negotiation 42A: Drawee: Bank N 42C: Draft: At Sight 47A: T/T Reimbursement is Not Allowed 49: Confirmation …

One of the questions I get asked a lot by friends and old colleagues — especially those living far away or nearing retirement age — is: “So… now that you’re retired, are you doing anything else to keep busy?” To be honest, whether or not to keep working after retirement really depends on your personal situation — your health, your …

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 …