BACK TO RÚ CẤM NAM Ô & the Legend of Princess Huyền Trân There are mornings when the weather’s just too nice to stay indoors. So I hopped on my bike, stretched my aging but loyal legs, and set off on a spontaneous ride—back to Rú Cấm Nam Ô, that mysterious stretch of forest that’s been quietly guarding its secrets for centuries. Rú Cấm Nam Ô, for those unfamiliar, is a sacred forbidden … Read More
CYCLING TO LE PASS “You won’t know Le pass till you go. And once you do—get ready to pant like crazy.” (Chưa đi chưa biết đèo Le/Đi rồi mới biết đạp lè lưỡi ra) Le Pass, at 279 meters above sea level, stretches across Hon Tau Mountain on Provincial Road 611, right where Son Vien and Que Loc communes meet in Nong Son District, … Read More
WHEN A DEPOSIT IS REQUIRED TO SECURE PAYMENT UNDER A USANCE LC QUESTION Hi Mr. Old Man, I’ve been trying to find this information but couldn’t get a clear answer on Google. When an importer requests their bank to issue a usance LC, does the bank lock up the amount in his account until the LC reaches maturity? Thank you. Tengku —— ANSWER Hi, Whether a deposit is required for the issuance … Read More
APPRAISING THE FEASIBILITY OF A FILM PROJECT QUESTION Hello Mr. Old Man, After nearly two decades in the industry, I recognize there’s still much for me to learn about project financing. To educate myself more, I’ve been reading up for days and tonight I found your blog. Your expertise in this area is incredible, and I’m reaching out in hopes that you might be willing to share … Read More
Discover the Unique Charm of the Ancient Bằng An Tower Front of Bằng An tower Tucked away in the quiet village of Bằng An—now part of Điện An Ward, Điện Bàn Town, Quảng Nam Province—stands one of the few surviving ancient towers of the once-mighty Champa Kingdom: the Bằng An Tower. Located just 27 km from Đà Nẵng, 14 km from the ancient town of Hội An, and only 1.2 … Read More
CAN DECIMALS ON AN INVOICE AND DRAFT BE ROUNDED ? QUESTION Dear Sir How are you doing? If we show a round off figure of $625,000.00 instead of $ 625,000.05, Will it be a Discrepancy. The calculation is as below. Unit Price: USD 41,666.67 Qty: 15 Total = USD 41,666.67 x 15 = USD 625,000.05 But, if we show $ 625,000.00 in the Invoice and Draft, Will it be a … Read More
WHY TRANSSHIPMENT IS ALLOWED FOR GOODS SHIPPED IN A CONTAINER, TRAILER, OR LASH BARGE QUESTION Hello Sir, I hope you are doing well. Sir, I have a query that I hope you can help me with. Sub-article 20 (c) (ii) of UCP 600 allows transshipment if goods are shipped in a container, trailer, or LASH barge. Why is transshipment permitted in these cases? Regards, Ahtisham Ali ————– ANSWER Hello, In my understanding, it is … Read More
Một thời để nhớ Ngày 30/4/2025 đánh dấu cột mốc 50 năm thành lập Vietcombank Đà Nẵng (30/4/1975 – 30/4/2025) – không chỉ là dấu ấn lịch sử của một chi nhánh đặc biệt, mà còn là dịp ý nghĩa với Mr. Old Man, người đã gắn bó suốt 30 năm cho đến khi nghỉ hưu vào năm 2021. Trong buổi lễ trang trọng … Read More
GUIDANCE ON HANDLING A NOMINATED BANK’S DEFAULT QUESTION Dear Mr. Old Man, I need your guidance in the following scenario: If a Nominated Bank has incurred its deferred payment undertaking or has accepted a draft drawn on it but fails to honour at maturity, then what options does the beneficiary have? Please clarify. Regards, Siva Prasad —— ANSWER Hi Siva, According to UCP 600 sub-article 7 (a) (iii) and … Read More
HANDLING UNIT PRICE CHANGES IN CRUDE OIL L/C AMENDMENTS QUESTION Dear Sir, I hope this message finds you well. I would like to seek your guidance regarding the handling of amendments to a Crude Oil Letter of Credit (L/C). At the time of L/C issuance, we received two proforma invoices indicating a unit price of USD 80.620 per barrel. Subsequently, the customer requested an increase in the L/C amount. … Read More