HÒA BẮC – A PEACEFUL COUNTRYSIDE PAINTED BY NATURE ITSELF By Mr. Old Man Just 25 km west of Đà Nẵng lies Hòa Bắc — a tranquil slice of countryside so beautiful, it looks like it was brushed into existence by an artist’s hand. From the hillside road, you can look down and see the small villages of Trường Định, An Định, Nam Yên, and Phò Nam nestling together in … Read More
DISCOUNTING VS. NEGOTIATION UNDER LCs: WHAT’S THE DIFFERENCE? QUESTION: What is the difference between discounting and negotiation in the context of letters of credit? Could you clarify? ——- ANSWER: Hi, Great question — it’s one that often comes up in trade finance. Under UCP 600, the term officially used is “negotiation”, not “discounting.” According to Article 2 of UCP 600, negotiation refers to: “The purchase by the … Read More
Cycling Back to the Ancient Banyan Tree This morning, I took on the climb up Sơn Trà to test my mountain biking legs — part of my plan to requalify for my long-expired Class FE cycling license (*). Along the way, I made a nostalgic stop at the old Tiên Sa Lighthouse, still standing proud above the sea. I also dropped by the legendary Cây Đa Ngàn … Read More
MỘT LỜI CÁM ƠN – NGÀN NIỀM VUI Thỉnh thoảng, Mr. Old Man nhận được những email cảm ơn từ những người chưa từng gặp mặt, ở tận đâu đó trên thế giới, chỉ vì đã giúp họ giải đáp các thắc mắc trong quá trình tác nghiệp thanh toán quốc tế và tài trợ thương mại, hoặc trong hành trình “vượt ải” kỳ thi CDCS – một … Read More
CFR FO or CFR + FO — When to Use It? QUESTION Dear Mr. Old Man, Good day. Could you kindly explain whether there’s any difference between CFR FO and CFR + FO as used in letters of credit? Also, which type of shipment are these Incoterms suitable for—containerized cargo, break bulk, bulk cargo, etc.? Does this mean CFR FO (or CFR + FO) is only applicable when a Charter Party … Read More
TẢN MẠN CHUYỆN “THOẠC GIOÁN” VÀ TOURANE Sáng nay, đang thong thả cà phê thì lướt thấy Facebook của ông bạn hàng xóm báo tin nóng: Đà Nẵng đã chính thức đặt tên lại các phường, xã sau khi sáp nhập với Quảng Nam. Theo đó, ba phường Xuân Hà, Chính Gián và Thạc Gián được gom lại thành… phường Thạc Gián. Vậy là chỉ trong chưa … Read More
THE PEAK OF THE PEAK — HAI VAN’S HIDDEN SUMMIT There’s a place above Hai Van Pass — higher than the Hai Van Gate by a full 194 meters, perched at an altitude of 690 meters above sea level — that few cyclists in Da Nang have ever seen with their own eyes, let alone set foot (or tire) on. We call it the “Peak of the Peak” of Hai … Read More
WHEN EXW MEETS BILL OF LADING: A LOVE STORY THAT SHOULDN’T EXIST (BUT SOMETIMES DOES) 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. … Read More
EXPLANATION OF ISBP 821 PARAGRAPH C10 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 … Read More
3 REASONS WHY MOUNTAIN BIKING IS BETTER 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, … Read More