DOES “ANY CHINESE PORT” IN LC INCLUDE HONG KONG? 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 … Read More
CAN THE ISUING BANK INCLUDE REIMBURSEMENT AUTHORITY IN FIELD 78 UNDER A ‘MAY ADD’ LC? 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 … Read More
ORIGINAL ENOUGH? WHEN A COPY IS NOT A COPY 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 … Read More
CHAT GBT ĐÁNH GIÁ TRANG FACEBOOK NGUYỄN HỮU ĐỨC (MR. OLD MAN): MỘT DIỄN ĐÀN KIẾN THỨC VÀ TRẢI NGHIỆM SỐNG Trong bối cảnh mạng xã hội ngày càng trở nên hỗn tạp và thiên về giải trí, hiếm có một trang cá nhân nào giữ được sự cân bằng giữa giá trị chuyên môn sâu sắc và nội dung truyền cảm hứng sống lành mạnh như trang Facebook của ông Nguyễn Hữu Đức, hay còn được nhiều người trong giới … Read More
DOES VOYAGE DESCRIPTION EQUAL INSURANCE COVERAGE SCOPE? QUESTION Hi Sir, Hope everything is going well. I wanted to highlight a confusion of mine its more of a silly question. The thing is in an insurance policy we need to know the overall coverage of the insurance from the place of loading the consignment to its ultimate destination. Sometimes we find the policy only mentions the actual voyage details only, … Read More
EVERESTING HẢI VÂN – SỰ CỐ ĐÁNG TIẾC Ngày 20/5/2025 lúc 3:42 sáng, cua-rơ Hồ Xuân Duy (Duy Ho), thành viên CLB xe đạp C5 Hà Nội, bắt đầu thử thách Everesting Hải Vân. Sau 20 lượt leo liên tục trong 22 giờ 24 phút 08 giây, anh đã chạm mốc tổng độ cao tích lũy 9.020 mét – vượt qua độ cao đỉnh Everest (8.848 mét) – … Read More
Q&A – Phát hành bảo lãnh quốc tế bằng ngoại tệ: Được hay không, và có trái ngoại hối không? QUESTION Chào Mr. Old Man, Nhờ Mr. Old Man giải đáp giúp 2 tình huống sau: 1. Ngân hàng trong nước có được phép phát hành bảo lãnh quốc tế bằng ngoại tệ cho doanh nghiệp Việt Nam để tham gia đấu thầu quốc tế không? 2. Ngân hàng trong nước có được phát hành bảo lãnh thay mặt cho … Read More
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