THE HIGHER THE BETTER? QUESTION Dear Mr. Old Man, I come across the following case: Field 45A: DRIED GRAINS WITH SOLUBLES Specification: PROFAT 36 PCT MINIMUM Field 47A: ALLOWANCE FOR PROFAT IS NOT MORE THAN 2 PCT. Presented documents show: PROFAT 39.1 PCT Can we raise the discrepancy “Profat exceeding allowance specified in Field 47A? Thank you! DDD ——- ANSWER Hi, Profat, which means … Read More
THÁNG TÁM & NHỮNG CHUYẾN PHƯỢT XE ĐẠP THÚ VỊ “Tháng Tám nắng rám trái bưởi” nhưng điều đó không làm ảnh hưởng đến sở thích đạp xe mỗi sáng của Mr. Old Man. Bên cạnh những cuốc xe đạp thường nhật bắt đầu vào 4:30 sáng, tháng Tám vừa rồi Mr. Old Man cũng đã có những chuyến phượt xe đạp cuối tuần đầy thú vị. . Đầu tiên … Read More
AI ĐI CỬA KHẺM THÌ ĐI! Cuối năm ngoái khi xảy ra vụ lùm xùm giữa Huế và Đà Nẵng liên quan đến Dự án World Shine Resort Complex của World Shine Hong Kong Limited Company, mình rất háo hức muốn khám phá mũi Cửa Khẻm và đã một mình đạp xe qua đèo Hải Vân rồi lần theo con đường mới mở phía bắc Hải … Read More
Những điểm mới đáng lưu ý của Thông tư 07 quy định về bảo lãnh ngân hàng Nguyễn Hữu Đức Năm 2013 trên Tạp chí Ngân hàng số 13, người viết bài này có đăng bài “Bàn về một số bất cập của quy định về bảo lãnh ngân hàng” liên quan đến Thông tư số 28/2012/TT-NHNN ngày 03/10/2012 của Ngân hàng Nhà nước (Thông tư 28). Trong đó, người viết nêu ra 6 bất cập của … Read More
WHETHER ARTICLE 20 IS APPLICABLE TO SURRENDERED BILL OF LADING QUESTION Dear Mr Old Man, Please give your idea about Surrendered Bill of lading. Can we apply Article 20 Bill of lading for checking Surrendered Bill of lading ? Looking forward to receiving your soon reply Thanks a lot LC —— ANSWER Hi, I guess that the surrendered bill of lading referred to in your question is a photocopy/copy of the bill of lading … Read More
WHERE THE PLACE OF EXPIRY AND AVAILABILITY ARE NOT THE SAME QUESTION Dear Mr. Old Man, I have a case relating to the place of expiry and the availability of LC: LC states: Field 31D: Date and place of Expiry: 31082015 Vietnam Field 41A: Available with…by Kuveyt Turk Katilim Bankasi A.S., Turkey by Payment Field 48: Period for presentation 21 days from shipment date but within credit Validity Beneficiary presents Bill of Lading … Read More
WHETHER THE CONFIRMING BANK CAN DISCOUNT ITS OWN ACCEPTED DRAFT BEFORE FORWARDING THE DOCUMENTS TO THE ISSUING BANK (Source: Quoted from DCPro Discussion Forum 9 July, 2015) At God’s Well (Da Nang, Vietnam) QUESTION Bank A being an issuing bank requests Bank B to advise and confirm a term L/C to the beneficiary. L/C is available with Bank B by acceptable and draft drawn on Bank B (the Confirming Bank). Is there any problem with this structure, especially … Read More
DOCUMENTS SENT ON APPROVAL BASIS (Source: quoted from DCPro Discussion Forum 9 July, 2015) Biking to God’s Well (Da Nang): Crying on the Bike QUESTION Documents presented by a beneficiary to its bank under a L/C subject to UCP 600. Documents contain some discrepancies including l/c expiry. Beneficiary requests it’s bank to send the documents without examination on approval basis. Should the beneficiary’s bank send … Read More
WHERE THE NOMINATED BANK DOES NOT NEGOTIATE THE DOCUMENTS QUESTION Hi Mr. Old Man, I feel confused with the following case: We as advising bank received a letter of credit available with any bank by negotiation and advised the same to the beneficiary. After shipment the beneficiary presented the documents to our bank and we forwarded the documents to the issuing bank without negotiation. I understand that in this … Read More
WHERE THE BILL OF LADING IS ENDORSED BY A PARTY OTHER THAN THE PARTY TO WHOSE ORDER IT IS MADE OUT Not far from my home. QUESTION Dear Mr. Old Man, I have a very urgent case that needs your opinion. B/L made out to the order of Bank A and notify Applicant. However, it is endorsed by Bank B (the Beneficiary’s bank) by mistake. The issuing bank raised the discrepancy. Is the discrepancy valid? Thank for your support PTH —— … Read More