QUESTION Dear Mr. Old Man, I’ve come across a bit of a puzzler: The LC I’m handling shows the goods are sold on EXW (Ex Works) terms, yet it also calls for presentation of a Bill of Lading (BL). From what I understand, under EXW, the seller’s responsibility stops at their own doorstep—they’re not even obliged to load the goods. …

QUESTION Dear Mr. Old Man, I’m having trouble understanding ISBP C9, about additional charges and costs in the invoice. Could you kindly explain it? Regards, Siva —— ANSWER Hi Siva, I believe you’re referring to paragraph C10 in ISBP 821, not C9. (C9 in ISBP 745 was renumbered as C10 in the latest ISBP 821.) It reads: “Additional charges and …

In recent years, the cycling scene in Da Nang has exploded—both in numbers and in style. These days, if you step out early in the morning or late in the afternoon, chances are you’ll see people pedaling away—some on sleek road bikes built for speed and smooth tarmac, others bouncing along on sturdy mountain bikes, tackling dirt trails, forest paths, …

By Mr. Old Man Why does cycling make us happy? Are you hooked on it too? Do you live to ride, or ride to live? Of course, you can live and cycle if you like—but research says, if you want to live longer, then you’d better get on that saddle more often. I have a confession to make. I’m addicted. …

(Lược dịch từ “ISBP revision process – v3 out for comments” – Kim Sindberg) ISBP 821 được các bạn làm công việc liên quan đến thư tín dụng (LC)  tại các ngân hàng  thương mại và các công ty xuất nhập khẩu xem như cuốn cẩm nang gối đầu giường để tham khảo lập và kiểm tra chứng từ theo …

QUESTION Dear Mr. Old Man, How are you? Hope you are well. I need your guidance and clarification for better understanding the difference between UCP 600 sub-article 26 (c) and ISBP 821 D31 (a) with regard to  “charges additional to freight in transport document”. Regards Siva —– ANSWER Hi, UCP 600 sub-article 26(c) says“A transport document may bear a reference, by stamp …

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 …

“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, …

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 …

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 …