Hãng tàu có thể giữ hàng trong bao lâu? INTRO Đôi khi trong hợp đồng ủy thác nhập khẩu, doanh nghiệp gặp tình huống khách hàng trong nước chưa thanh toán, khiến doanh nghiệp cũng chậm trả tiền cho đối tác nước ngoài. Hệ quả là hãng tàu giữ hàng tại cảng, kéo theo chi phí lưu kho, lưu bãi và rủi ro pháp lý. Một bạn đọc đã … Read More
When Two LCs depends on Each Other – The Story of Reciprocal Credits These days, you’d be hard pressed to find a reciprocal LC in the market—they’ve more or less vanished with time. But that doesn’t mean the topic is useless. For processors who still have to import raw materials and then ship out finished products, understanding how reciprocal LCs once worked can still serve as a valuable reference point. QUESTION Dear Mr. … Read More
Should Banks Check Both Beneficiary Name and Account Number in Incoming Transfers? In cross-border payments, one recurring issue is whether receiving banks should credit funds solely based on the account number in the payment order, or whether they must also verify that the beneficiary name matches the account holder. Practices differ across countries, and the consequences are serious — especially in fraud cases. QUESTION Dear Mr. Old Man, In Korea, before remittances … Read More
Confirmed vs. Unconfirmed LC – What’s the Difference? Letters of credit (LCs) can sometimes feel like a maze of terminology. Among the first distinctions every LC learner comes across is between a confirmed LC and an unconfirmed LC. The difference may sound simple, but it has big implications for the beneficiary’s security of payment. Many students also wonder if the advising bank is always the one confirming the … Read More
Can These Special Conditions Be Accepted in an LC? When applicants ask for “special clauses” in their credits, bankers often face a balancing act: accommodating commercial realities while safeguarding the credit’s integrity. Some requests are harmless, some are risky, and a few are downright dangerous. A reader from the Middle East recently sent me a list of such clauses proposed by his customer, asking which ones can be accepted, … Read More
Can the Beneficiary Be Both Shipper and Agent for the Carrier? In documentary credit practice, it is not uncommon to see situations where the same party appears in more than one capacity on a bill of lading. A recent reader raised the question whether a seller under an LC (the beneficiary) could also act as the shipper and at the same time sign the bill of lading as agent for the … Read More
When the Shipper is Also the Carrier’s Agent One of the quirks of transport documents under a letter of credit is that the same party may sometimes wear two hats — appearing as shipper of the goods and also signing the bill of lading as agent for the carrier. Does this raise a red flag under UCP 600? A reader recently asked for clarification. QUESTION Dear Mr. Old … Read More
Sub-article 31(b) UCP 600 – And Why the Same Ship Can Have Multiple Sets of Transport Documents Intro Sub-article 31(b) of UCP 600 often puzzles practitioners. On the one hand, it explains when multiple transport documents are not to be treated as partial shipments; on the other, it raises the practical question: how can the same ship and the same voyage end up with more than one set of bills of lading? Let’s unpack both sides. QUESTION … Read More
One Order, Two Containers – How Many Document Sets? Sometimes, beneficiaries get tripped up when an LC calls for documents “per order” in some cases and “per container” in others. It raises the question: if two containers are shipped under one purchase order, does that mean two complete sets of documents are required? A reader recently wrote in with this exact dilemma. QUESTION Dear Old Man, We have met … Read More
Chinese Port? Hong Kong, Macao, or Kaohsiung? Intro Letters of credit sometimes use broad geographical terms like “any Chinese port.” That sounds simple, but in practice it raises tricky questions—especially when ports like Hong Kong, Macao, or Kaohsiung are involved. ICC has clarified part of this, but not everything. Here’s how to understand it from an LC practice perspective. QUESTION Dear Mr. Old Man, As far as … Read More
When the LC beneficiary is a “sister company” in Singapore: How can Bank V remain the presenting bank?
When a Shipping Line Requests a General Average Deposit – What Documents Should the Bank Require for the Transfer?
When the LC beneficiary is a “sister company” in Singapore: How can Bank V remain the presenting bank?
When a Shipping Line Requests a General Average Deposit – What Documents Should the Bank Require for the Transfer?