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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…
Articles Q&A

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,…
Mr Old Man Q&A

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…
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?…
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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…
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…
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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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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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Lifestyle

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BILL OF LADING AND BILL OF LADING RIDER PAGE(S) SIGNED WITH DIFFERENT SIGNATURES

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

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?

Một thời để nhớ

14 Apr 2025

Ngày 30/4/2025 đánh dấu cột mốc 50 năm thành lập Vietcombank Đà Nẵng (30/4/1975 – 30/4/2025) – không chỉ là dấu ấn lịch sử của một chi nhánh đặc biệt, mà còn là dịp ý nghĩa với Mr. Old Man, người đã gắn bó suốt 30 năm cho đến khi nghỉ hưu vào năm 2021. Trong buổi lễ trang trọng …

GUIDANCE ON HANDLING A NOMINATED BANK’S DEFAULT

12 Apr 2025

QUESTION Dear Mr. Old Man, I need your guidance in the following scenario: If a Nominated Bank has incurred its deferred payment undertaking or has accepted a draft drawn on it but fails to honour at maturity, then what options does the beneficiary have? Please clarify. Regards, Siva Prasad —— ANSWER Hi Siva, According to UCP 600 sub-article 7 (a) (iii) and …

HANDLING UNIT PRICE CHANGES IN CRUDE OIL L/C AMENDMENTS

11 Apr 2025

QUESTION Dear Sir, I hope this message finds you well. I would like to seek your guidance regarding the handling of amendments to a Crude Oil Letter of Credit (L/C). At the time of L/C issuance, we received two proforma invoices indicating a unit price of USD 80.620 per barrel. Subsequently, the customer requested an increase in the L/C amount. …

Exploring Ky Anh Tunnels by Bicycle: A Journey Through History

11 Apr 2025

Just 7 kilometers northeast of Tam Ky City and about 75 kilometers from Da Nang via the coastal route lies one of Vietnam’s lesser-known but profoundly significant historical landmarks: the Ky Anh Tunnels. Once part of Ky Anh Commune (now Tam Thang Commune), this site ranks among the three largest tunnel networks in Vietnam, alongside the famous Cu Chi Tunnels …

The Unique Charm of the Da Nang Museum of Cham Sculpture

10 Apr 2025

By Mr. Old Man, 10/2021 Located at No. 2, 2-9 Street, Hai Chau District, Da Nang City, the Museum of Cham Sculpture is home to the largest and most comprehensive collection of Cham sculpture in Vietnam. The artifacts on display here represent the artistic heritage of the ancient Champa Kingdom and have been unearthed from various coastal provinces of Central …

WHEN THE NOTIFY PARTY’S ADDRESS DIFFERS FROM THE APPLICANT’S ADDRESS

10 Apr 2025

QUESTION Dear Sir, Good day! I have one Doubt. L/C shows Field 50 (Applicant) as below: EAST AFRICAN PHARMACEUTICALS PLC ST. ST. SALITMEHERET CHURCH ROAD, NEAR TO JACROSHOUSING COMPOUND ROBERA COFFEE FACTORY TEL: +251116461456/57 TIN 0000034121 Whereas The AWB Clause shows as below: SIGNED AND STAMPED ORIGINAL AIRWAY BILL PLUS ONE COPY MARKED FREIGHT (PREPAID) ISSUED IN THE NAME OF …

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