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?…
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…
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…
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 …
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!

ENDORSEMENT OF DRAFTS UNDER A LETTER OF CREDIT – WHO OWNS THE PROCEEDS

10 May 2025

QUESTION Dear Mr. Old Man, I have 2 questions that need your expertise clarification: 1/ Does the act of endorsement of drafts by the LC beneficiary to presenting bank mean the transfer of beneficial right? 2/ Must the beneficiary endorse the draft to the presenting bank to authorize it to claim reimbursement/payment from the issuing bank? Thank you so much …

DOCUMENTS PRESENTED UNDER AN EXPIRED L/C

10 May 2025

QUESTION Hi Mr. Old Man, Our bank presented documents under a Letter of Credit that had already expired. The issuing bank replied, saying that since the L/C had expired, they would treat the documents as a collection. Two weeks later, they messaged again to say they had released the documents to the applicant upon acceptance, and payment would be made …

THE KIDS OF TRUONG DINH

10 May 2025

— A Bicycle, a Field, and a Moment in Time — A Chance Encounter Exactly ten years ago, I pedaled into Truong Dinh Hamlet and stumbled upon a group of kids playing tag on a rice field, freshly cleared after harvest. Curious Eyes and a Light Bike When they saw a stranger stop his bicycle by the roadside, their curiosity …

WHO PAYS THE DISCOUNTING CHARGES IN A DEFERRED PAYMENT LC?

9 May 2025

QUESTION Hi, An LC for USD 1,000,000 is issued with these key terms: Usance LC: 180 days from date of negotiation 41D: Available with any bank in the beneficiary’s country by negotiation 71D: All charges are on account of the applicant The beneficiary asks the negotiating bank to discount the bill at 3% per annum. Who is responsible for paying …

COURT INJUNCTION TO SUSPEND L/C PAYMENT

9 May 2025

QUESTION Dear Mr. Old Man, Our bank issued a deferred payment L/C. The documents presented were fully compliant. Upon confirming compliance, our bank incurred its deferred payment undertaking and notified the foreign bank accordingly. The buyer accepted the obligation to pay on the due date and received the documents to collect the goods. However, when the goods were received, they …

FUN BIKING MOMENTS IN AMSTERDAM

8 May 2025

With a population of around 17.4 million people and a staggering 25 million bicycles, along with a world-class cycling infrastructure, the Netherlands rightfully holds the title of the number one cycling nation in the world. Amsterdam, the capital city, truly is a cycling paradise where bikes seem to dominate the streets. In Amsterdam, you’ll see cyclists enjoying absolute freedom — …

1...133134135...398 Page 134 of 398