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D/P AT XXX DAYS AFTER BL DATE

QUESTION Dear Mr. Old Man, As far as I know there are only two types of collection: D/P (D…
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QUESTIONS REGARDING BPO

QUESTION Kính gửi anh Old Man, Hiện nay em cũng đang nghiên cứu về sản phẩm BPO, tuy nhiên…
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NEGOTIATION WITH OR WITHOUT RECOURSE

QUESTION In response to a query at http://letterofcreditforum.com/content/i-need-some-clar…
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WHETHER A CONFIRMING BANK IS A NOMINATED BANK AND…

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WHETHER DOCUMENTS CAN BE PRESENTED DIRECTLY TO THE ISSUING BANK

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WHERE A MMTD CANNOT BE ISSUED IN NEGOTIABLE FORM

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CLAIMS PAYABLE, SETTLING AGENT, FRANCHISE, EXCESS (DEDUCTIBLE)

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Mr Old Man Q&A

CHANGING PAYMENT TERMS OF THE LC

QUESTION Dear Sir. Need a clarification on transferable LC regarding clause 42C. – I…
Mr Old Man Q&A

AMOUNT OF COVER

QUESTION The LC was issued for $8,000 showing as follows: – Field 45: Commodity: Fab…
Mr Old Man Q&A

LC WITH SPECIAL PAYMENT CONDITION

QUESTION Our company is specialized in importing P-phones. Our policy is that the quality,…
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AUTHENTICATION OF CORRECTIONS ON BILL OF LADING AND INVOICE

QUESTION LC states: – Special condition: Documents showing anycorrections without au…
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LC CONFIRMED BY THE FIRST ADVISING BANK

QUESTION Dear Mr. Old Man, I follow up your blog and see it very helpful. I have a questio…
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STAMP IN A LANGUAGE OTHER THAN THAT REQUIRED IN THE CREDIT

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WHERE DOCUMENTS UNDER D/P ARE NOT PAID

QUESTION Dear Mr. Old Man, I have the following case that needs your advice: A seller sign…
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BILL OF LADING DATED PRIOR TO LC ISSUANCE DATE

QUESTION Dear Mr. Old Man If B/L dated 4 months before LC issuance date, is it acceptable?…
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HOW TO GIVE NOTICE OF REFUSAL TO THE BENEFICIARY WHO HAS PRESENTED THE DOCUMENTS DIRECTLY TO THE ISSUING BANK?

QUESTION Dear Mr. Old Man, I understand that sub-article 6 (a) UCP 600 allows the benefici…
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UCP 600 ARTICLES 30 AND 31

QUERY FROM DIAMOND HK Điều 30,31 trong UCP Em là sinh viên năm 3 kinh tế,em đang nghiên cứ…
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DP COLLECTION

QUESTION Sir, I want to know, if the documents on DP term are sent with clear instruction …
Discovery on the cycling road Lifestyle Payment Q&A

WHERE THE APPLICANT REFUSES TO TAKE UP THE DOCUMENTS

Yellow sand beach, Hai Van Pass QUESTION Dear Mr. Old Man, We appreciate your answer to th…
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CAN A BANK REFER TO THE PROVISIONS OF ISBP IN ADDITION TO UCP WHEN CHECKING DOCUMENTS?

QUESTION Dear Mr. Old Man, When the LC only indicates UCP 600 as governing rule but not IS…

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PARTIAL SHIPMENTS UNDER SUB-ARTICLE 31 (B)

QUESTION Dear Mr. Old Man, LC does not allow partial shipments. Documents were presented to the issuing bank in two separate covering schedules. The first set reached the issuing bank’s counter on 5 O…

UCP 600 ARTICLES 30 AND 31

WHETHER MT999 IS AN AUTHENTICATED SWIFT MESSAGE

TO ORDER BILL OF LADING AND ENDORSEMENT

LC CONFIRMED BY THE FIRST ADVISING BANK

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PARTIAL SHIPMENTS UNDER SUB-ARTICLE 31 (B)

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UCP 600 ARTICLES 30 AND 31

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WHETHER MT999 IS AN AUTHENTICATED SWIFT MESSAGE

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NGƯỜI NHẬT CÓ THỂ TỰ HÀO VỀ BÒ WAGYU, NHƯNG NGƯỜI VIỆT THÌ CHƯA CHẮC ĐÃ MÊ!

Đọc bài “Bò H’Mông và giấc mơ Wagyu” trên VnExpress của một giáo sư người Việt đang giảng dạy tại Đại học Hiroshima (Nhật Bản), Mr. Old Man tự nhiên cũng muốn góp vài câu chuyện về món thịt bò. …

LỦNG THÙNG THƠ LÀ CHI RỨA?

HỘI AN CẦN ĐÁNH THỨC THỦY QUÁI NAMAZU!

TRUYỀN THUYẾT VỀ THỦY QUÁI NAMAZU Ở CHÙA CẦU HỘI AN CẦN ĐƯỢC TÁI DỰNG?

NAM Ô LÊN PHIM GẦN 130 NĂM TRƯỚC!

Confirmed or Unconfirmed? Decoding MT 710 and Confirmation Fields

15 Sep 2025

Intro In trade finance practice, LC confirmations can sometimes get tricky—especially when MT 710 is involved, and the fields seem to give mixed signals. One reader sent in a great case about an MT 710 with “adding our confirmation” in Field 40B, but “without” in Field 49. Let’s walk through the logic step by step. ________ Question Dear Mr. Old …

MT 202 or MT 103 – A Case Study You Won’t Find in Textbooks

13 Sep 2025

In trade finance, life is rarely as straightforward as the manuals suggest. Real transactions often bring up situations that don’t quite fit the “standard” rules. One such puzzle is deciding whether an LC payment should go out via MT202 (bank-to-bank transfer) or MT103 (customer credit). The following Q&A, based on a real-life case in Vietnam, illustrates how to untangle this …

Documents Presented Directly to the Issuing Bank – What Happens Next?

13 Sep 2025

Intro One common question in documentary credit practice is whether a beneficiary can bypass the nominated bank and present documents directly to the issuing bank. This situation often arises close to expiry dates, during holidays, or in domestic LCs. But once the documents land on the issuing bank’s desk, another set of questions follow: how does the issuing bank handle …

Can a Bill of Lading Be Issued Outside the Country of Shipment?

12 Sep 2025

In documentary credit practice, a recurring question is whether a bill of lading must be issued at the port of loading or even in the country of shipment. With today’s centralized carrier systems and documentation hubs, the place of issuance may be far away from the actual port. But does this matter under UCP 600? Let’s see. ___ QUESTION Hi, …

Invoice Higher than the LC Amount – Can the Bank Pay More?

12 Sep 2025

In documentary credit operations, one of the recurring issues is when the presented commercial invoice shows an amount higher than that permitted under the letter of credit. Should the bank pay the full invoice value or restrict payment to the LC amount? Sub-article 18(b) of UCP 600 provides important guidance in this regard. Question Dear Mr. Old Man, We appreciate …

When “Better” Is Not Good Enough

12 Sep 2025

Intro In documentary credit practice, banks deal not with common sense but with strict compliance. Even if a document seems more reliable than what was asked for, the key question remains: does it match the LC conditions exactly? Question An L/C stated in Field 47A: “AT LEAST 14 DAYS DEMURRAGE AND DETENTION FREE AT DESTINATION TO BE CONFIRMED ON B/L …

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