Home - Mr. Old Man

Mr Old Man Q&A

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…
Payment

QUESTIONS REGARDING BPO

QUESTION Kính gửi anh Old Man, Hiện nay em cũng đang nghiên cứu về sản phẩm BPO, tuy nhiên…
Payment Q&A

NEGOTIATION WITH OR WITHOUT RECOURSE

QUESTION In response to a query at http://letterofcreditforum.com/content/i-need-some-clar…
Articles Q&A

WHETHER A CONFIRMING BANK IS A NOMINATED BANK AND…

…
Uncategorized

WHETHER DOCUMENTS CAN BE PRESENTED DIRECTLY TO THE ISSUING BANK

…
Mr Old Man Q&A

WHERE A MMTD CANNOT BE ISSUED IN NEGOTIABLE FORM

…
Mr Old Man Q&A

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

…
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,…
Mr Old Man Q&A

AUTHENTICATION OF CORRECTIONS ON BILL OF LADING AND INVOICE

QUESTION LC states: – Special condition: Documents showing anycorrections without au…
Mr Old Man Payment Q&A

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…
Mr Old Man Q&A Uncategorized

STAMP IN A LANGUAGE OTHER THAN THAT REQUIRED IN THE CREDIT

…
Uncategorized

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…
Mr Old Man Q&A

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?…
Articles Payment Q&A

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…
Q&A

DP COLLECTION

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

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…
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…
Mr Old Man Payment Q&A

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…

Q & A

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

Bank

Mr Old Man

PARTIAL SHIPMENTS UNDER SUB-ARTICLE 31 (B)

Payment

UCP 600 ARTICLES 30 AND 31

Mr Old Man

WHETHER MT999 IS AN AUTHENTICATED SWIFT MESSAGE

Travel In Picture

Lifestyle

Articles

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!

CPBL Signed by Agent for the Carrier: When a Captain’s Name Doesn’t Save the Day

20 Aug 2025

Sometimes in trade finance, documents try to be “too smart.” A CPBL signature is one of those tricky places: a small change of words can decide if documents are compliant or discrepant. Let’s look at a real case from Ms. Woo. QUESTION Dear Mr. Old Man, Good day. Customer has presented a Charter Party Bill of Lading (CPBL). The LC …

IS TORONTO A SEAPORT?

20 Aug 2025

In trade finance, banks are sometimes tempted to play detective when they see something that doesn’t look “geographically correct.” But under UCP 600, their role is not to check maps or shipping routes—it’s to examine documents on their face. A recent question about whether Toronto can be treated as a “port of discharge” illustrates this point well. QUESTION Dear Mr. …

Earliest Date Rules: Which Shipment Date Counts for Presentation under ISBP 821?

19 Aug 2025

Intro: In documentary credit practice, shipment dates play a critical role in determining whether a presentation is timely. Questions often arise when multiple charter party bills of lading are involved, especially when they carry different shipment dates under a single presentation. Rohini recently wrote in with a scenario on partial shipments and differing dates of shipment. Let’s look at the …

When “Approval Basis” Presentations Come Up – UCP or URC?

18 Aug 2025

Intro In practice, not every LC presentation is textbook perfect. Sometimes banks and beneficiaries face the tricky situation of discrepant documents. A recurring question in trade finance circles is: If a nominated bank forwards documents “on approval,” is that still under UCP, or should it instead be treated as a documentary collection under URC? And a follow-up question naturally arises: …

Breaking Into Trade Finance: A Reader’s Question, Mr. Old Man’s Answer

17 Aug 2025

Intro: Every now and then, I receive thoughtful questions from young professionals eager to step into the world of trade finance. Recently, Chaudhary wrote to me after following my LinkedIn posts, asking how best to build a strong foundation in this field. His question, and my response, may be useful for anyone considering the same path. QUESTION Hi sir, I …

Loose Container on a Bill of Lading – Discrepancy or Not?

17 Aug 2025

Intro: Every so often, LC practitioners stumble upon shipping terms that spark debate. One such term is “Loose Container”—often seen on draft or final Bills of Lading. Does it simply describe the cargo, or does it trigger a discrepancy under an LC? Let’s look at a real query from PSP and unpack the answer. QUESTION Dear Mr. Old Man, …

1...111112113...398 Page 112 of 398