THE ANATOMY OF SHIPMENT IN L/C TRANSACTIONS The article "The Anatomy of "Shipment" in L/C Transactions", which was published in DCInsight, was written by a famous L/C specialist, Kim Christensen. With the permission of Kim and DCInsight, Mr. Old Man translated the article into Vietnamese and had it published in Banking Review. BÀN VỀ VẤN ĐỀ SHIPMENT TRONG CÁC GIAO DỊCH THƯ TÍN DUNG Kim Christensen Kim … Read More
THE TERM 'HONOUR" Bàn về thuật ngữ “honour” trong UCP 600 Nguyễn Hữu Đức Trong số 14 thuật ngữ được định nghĩa tại Điều 2 UCP 600, “honour” là một thuật ngữ vừa mới vừa cũ. Mới là vì đây là lần đầu tiên khái niệm “honour” được đưa vào UCP, còn cũ là vì những người thực hành thư tín dụng (LC) … Read More
SIGNED WITH A CHOP BEARING COMPANY NAME; CORRECTED DOCUMENTS RE-PRESENTED QUERY FROM PVNSubject: query about docs' issuer Dear Mr Duc, There is a discussion in my office relating to the docs’ issuer and could you pls give us yr judgment. I attach herewith the certificate of quality, which is required in the LC to be issued by manufacturer. In paragraph 40, ISBP, they only mention the case that the company … Read More
SHIPPER'S LIABILITY WHEN THE GOODS ARE DESTROYED Hi Hồng Lan, Sorry vì trả lời bạn quá trễ bởi Mr. Old Man rất ít khi sử dụng địa chỉ email yahoo này trong giao dịch thư tín. Về vấn đề bạn hỏi, tuy không thuộc chuyên môn của Mr. Old Man nhưng Mr. Old Man cũng đã tham khảo tài liệu và xin trả lời bạn như sau: … Read More
STOP PAYMENT ORDER QUERY FROM Ahmed SayedPreventive action In case of acceptance LC , as an example its payment will be 90 days from the bill of lading & after the bank had accepted the documents & passed the same to the applicants to clear the goods , the applicants found a significant descrepancy between the goods received & the goods description stipulated … Read More
RISKS IN INTERNATIONAL TRADE IN RESPONSE TO SAGITTARIUS'S QUERY Sagittarius thân mến, Mr. Old Man cũng thường nhận được từ các bạn sinh viên đang làm luận văn tốt nghiệp những câu hỏi tương tự như câu hỏi sau đây của bạn: “Hãy cho biết những rủi ro trong thanh toán quốc tế và làm thế nào để hạn chế những rủi ro đó?”. … Read More
STANDBY LCs and BACK TO BACK LCs QUERY Dear Mr. Huu Duc, Occasionally, I have read your comments in some forums in international banking, especially LC. I also visited your blog and collect something about this matter. I am concerning about Standby LC and Back to back LC which I never practice with the real case. I wonder if you are available to help me to have … Read More
SILENT CONFIRMATION AND STAND BY L/C. QUERY FROM ELEGANTSilent L/C & STAND BY L/C I have 2 questions. They are as below. Please define: (i) SILENT L/C. (ii) STAND BY L/C. Thanking you in advance. —————— COMMENT Silent Confirmation & Stand-by LC Hi, Silent LC I’m afraid that the phrase “Silent LC” does not exist in practice. You may have mistaken it with “Silent Confirmation” or … Read More
SIGNED BY HANDWRITING V. MANUALLY SIGNED N.H. Duc – Viet Nam Hi all, The credit requires all documents to be SIGNED BY HANDWRITING by the issuer of the document.The bill of lading presented bears a photocopy of a hand-signed signature (or possibly a facsimile signature). The issuing bank raises the discrepancy “Bill of lading not signed as required by the credit”. However, the negotiating bank rejects … Read More
SUBJECT TO UCP 600 OR UCP 500? UCP 600 CAME INTO FORCE ON JULY 1ST, 2007 AND THIS ANSWER WAS GIVEN IN MARCH 2008 Chào Nguyễn Loan và Hoàng Dung, Mr. Old Man gửi lời chào thân ái đến hai bạn Nguyễn Loan và Hoàng Dung và cám ơn hai bạn đã gửi câu hỏi đến Mr. Old Man. Sở dĩ Mr. Old Man trả lời chung … Read More