QUESTION Dear Duc Nguyen Huu Sincere greetings! How are you Bank Master? There is currently a new seller who requires the buyer to provide proof of any bank-to-bank funds. The buyer said that due to MT799/199, the entire payment needs to be deposited in the bank. Large companies have no problem due to their strong funds, but small and medium-sized …

QUESTION Hi sir, This is Jawad Ahmed from Askari Bank ltd. Pakistan. Hope this email finds you well. I have a question regarding Letter of Credit amendment. I have been seeking  an amendment in Letter of credit where at the time of LC opening the unit price was USD 570 and partial documents were presented against this LC with the same …

QUESTION Dear Mr. Old Man, Good Day. We have received MT 799 under field 20 & field 21 indicated the same reference number. Followed by field 79 only and indicated irrevocable standby letter of credit no…… for USD1,000,000.00. We hereby authorize  you to draw on Bank of Singapore …. upon your demand by authenticated swift…this SBLC expire on 1/3/2026. Charges …

QUESTION Dear Mr. Old Man, Hope this email friends you well, I have been reviewing your blog but couldn’t get across the answer if an MT 999 can NOT arrive at the receiving bank. Attached you will find the copy of the swift, I think I’m getting scammed or hassled, but my receiver has not found the swift and the sender is telling me he will …

QUESTION Dear Sir. Need a clarification on transferable LC regarding clause 42C: If the original LC mentions LC at sight, can the 1st beneficiary change this to LC 30 days usance when transferring this LC to the 2nd beneficiary ( if 2nd beneficiary agrees to LC 30 days). If a sight LC is transferred as a sight LC, we foresee …

Cách đây mấy hôm một nhóm bạn công tác tại  một trung tâm tài trợ thương mại của một ngân hàng thương mại  tranh luận với nhau  về vấn đề vận đơn theo hợp đồng thuê tàu  có phải là chứng từ sở hữu hàng hóa hay không? Một số bạn thì cho rằng Vận đơn theo hợp đồng thuê …

QUESTION Dear Mr. Old Man, I’ve been scouring the internet trying to find the right answer, when I found you blog and believe you may be able to help. We had shipped some Chrome Ore to China under Sight LC. Due to circumstances beyond our control, we could not submit documents within the presentation period. Though buyer was fully aware …

QUESTION Dear Mr. Old Man, I hope this email finds you well. I discovered your blog yesterday and I found it incredibly helpful. I have a couple of questions I’d like to ask, if you don’t mind. It is my understanding that sellers can only lose money on an LC transaction due to their own errors, like presenting the wrong …

QUESTION Dear Duc Nguyen Huu Sincere greetings! How are you Bank Master? I encountered a problem in my work. My buyer has agreed to the transaction, but the seller first needs the buyer to provide SBLC, because the buyer requires an SGS report from the seller. This report requires a payment of US$10,000. Although the amount is small, the seller believes that …

QUESTION Chào Mr. Old Man, Em có  thắc mắc về LC rất mong Mr. Old Man giải đáp. Ngân hàng em  phát hành LC trả chậm thường quy định ở trường 31D và trường 41D như sau: 31D: Date and Place of Expiry: … Issuing Bank 41D: Available with ISSUING BANK by acceptance hoặc by deferred payment Em thắc mắc …