(English version below) Mr. Old Man “về vườn” đã hơn 4 năm, giờ thành tỷ phú thời gian nên ngày nào cũng lai rai một bài trên www.mroldman.net – MR. OLD MAN – For Those Who Eat, Sleep and Breathe Letters of Credit & Cycling. Đạp xe đường dài thì không còn nữa, nhưng bù lại, các bài viết và Q&A …

When it comes to trade finance, one of the recurring debates is whether to use a commercial Letter of Credit (LC) or a Standby Letter of Credit (SBLC). At first glance they may look similar, but in practice buyers and sellers have very different preferences. Buyers lean toward LCs, while sellers often push for SBLCs. The reasons lie in how …

Intro One of the recurring debates in Incoterms is whether FOB, CFR and CIF should ever be used for containerized shipments. The theory says “no,” but in practice, traders and banks keep using them every day without issue. Let’s look at why the theory clashes with practice, and what happens with FCL and LCL cargoes. _________ Question One of the …

In trade finance, one of the most common questions is why an Air Waybill (AWB) is always non-negotiable, while a Bill of Lading (BL) can be either negotiable or non-negotiable. The answer lies in the legal nature of the documents and the rights they confer. QUESTION Thanks for your valuable trade related write up. I’m from Pakistan I need your …

In practice, many banks and traders get confused between the Master Bill of Lading (MBL) and the House Bill of Lading (HBL). The question is: should an issuing bank insist on receiving an MBL under a Letter of Credit? QUESTION Thanks for your valuable trade related write up. I’m from Pakistan I need your answer to the following question: Why …

One of the recurring issues in LC operations is how to handle insurance documents that contain both the phrase “irrespective of percentage” and a deductible clause. Traders often assume the “irrespective of percentage” wording will override the deductible, but under UCP 600 and ISBP 821, the story is different. Let’s look at a real case. __________ QUESTION Dear Mr. Old …

Phân tích Điều 36 UCP 600 từ một thảm họa thực tế Nguyễn Hữu Đức Tóm tắt Các sự kiện bất khả kháng như thiên tai, chiến tranh, khủng bố có thể buộc ngân hàng phải ngừng hoạt động, làm gián đoạn việc xuất trình và xử lý chứng từ theo thư tín dụng (L/C). Điều 36 UCP 600 quy …

Intro Article 30(c) of UCP 600 looks short, but it’s one of those rules that makes bankers and traders scratch their heads. Let’s unpack sub-article 30(c) together, with an example to make it real. _____ QUESTION Hi, Article 30(c) of UCP 600 states: Even when partial shipments are not allowed, a tolerance not to exceed 5% less than the amount …

Sometimes in LC practice, the simplest questions open the door to tricky details. Here’s one of those situations: a beneficiary fixes most discrepancies but forgets one. Can the issuing bank bring up that same old discrepancy again? Let’s see. ____ Question (from Chanchal): Dear Sir, Simple question. If the issuing bank sent advice of refusal to the negotiating bank with …

Intro: In trade finance, order bills of lading blank-endorsed are powerful documents—they can pass title simply by delivery. But what if one is stolen? Could a thief fill in a name above the blank endorsement and walk away with the cargo? This question gets to the heart of document security, carrier responsibility, and the limits of what a thief can …