July 15, 2025
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Mr. Old Man For those who eat, sleep and breathe Letters of Credit & Cycling

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  • Articles

    A Note of Thanks – And a Little Update from Mr. Old Man

    When the Account Name Doesn’t Match the Number: Should the Bank Be Held Liable?

    Cầu Nguyễn Văn Trỗi: Từ Con Đường Chiến Tranh Đến Lối Đi Bộ Bình Yên – Chứng Nhân Lặng Lẽ Của Quá Khứ Đà Nẵng

    Nguyen Van Troi Bridge: From War Path to Peaceful Footpath — A Quiet Witness of Da Nang’s Tumultuous Past

    A Heartfelt Note from a CDCS Achiever

  • Lifestyle

    A Note of Thanks – And a Little Update from Mr. Old Man

    Cầu Nguyễn Văn Trỗi: Từ Con Đường Chiến Tranh Đến Lối Đi Bộ Bình Yên – Chứng Nhân Lặng Lẽ Của Quá Khứ Đà Nẵng

    Nguyen Van Troi Bridge: From War Path to Peaceful Footpath — A Quiet Witness of Da Nang’s Tumultuous Past

    GIÀ GÂN PHƯỢT THỦ

    MONKEY MOUNTAIN CHALLENGE 2025: BẤT CHẤP MƯA GIÓ, TRÁI TIM VẪN HƯỚNG VỀ ĐỈNH CAO

  • Discovery on the cycling road

    Cầu Nguyễn Văn Trỗi: Từ Con Đường Chiến Tranh Đến Lối Đi Bộ Bình Yên – Chứng Nhân Lặng Lẽ Của Quá Khứ Đà Nẵng

    Nguyen Van Troi Bridge: From War Path to Peaceful Footpath — A Quiet Witness of Da Nang’s Tumultuous Past

    GIÀ GÂN PHƯỢT THỦ

    MONKEY MOUNTAIN CHALLENGE 2025: BẤT CHẤP MƯA GIÓ, TRÁI TIM VẪN HƯỚNG VỀ ĐỈNH CAO

    Profile Update: Mr. Old Man’s World – Where Trade Finance Meets Adventure

  • Q&A
  • Popular
3 New Articles
  • 10 hours ago Understanding the Place of Presentation in LCs
  • 3 days ago Freight over FOB? No Worries, My Friend!
  • 3 days ago A Note of Thanks – And a Little Update from Mr. Old Man

For those who eat, sleep and breathe Letters of Credit

  • 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?…

  • 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…

  • Q&A

    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…

  • 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…

  • 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…

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Q & A

Mr Old Man

PARTIAL SHIPMENTS UNDER SUB-ARTICLE 31 (B)

By Mr Old Man
October 19, 2015
21
147,285

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…

Read More

UCP 600 ARTICLES 30 AND 31

March 16, 2010
129
34,645

WHETHER MT999 IS AN AUTHENTICATED SWIFT MESSAGE

July 31, 2018
5
32,905

LC CONFIRMED BY THE FIRST ADVISING BANK

September 15, 2013
9
31,004

TO ORDER BILL OF LADING AND ENDORSEMENT

March 6, 2010
61
29,792

Bank

Mr Old Man

PARTIAL SHIPMENTS UNDER SUB-ARTICLE 31 (B)

By Mr Old Man
October 19, 2015
Payment

UCP 600 ARTICLES 30 AND 31

By Mr Old Man
March 16, 2010
Mr Old Man

WHETHER MT999 IS AN AUTHENTICATED SWIFT MESSAGE

By Mr Old Man
July 31, 2018

Travel In Picture

Lifestyle

Mr Old Man

Understanding the Place of Presentation in LCs

By Mr Old Man
10 hours ago
0
8

QUESTION Hi Mr. Old Man, I often see the place of presentation stated as the beneficiary’s country or city. But in some LCs, can the place of presentation be fixed as the importer’s city — for example…

Read More

Freight over FOB? No Worries, My Friend!

3 days ago
0
9

A Note of Thanks – And a Little Update from Mr. Old Man

3 days ago
0
13

When the Account Name Doesn’t Match the Number: Should the Bank Be Held Liable?

4 days ago
0
22

Is a CPBL Acceptable When the LC Is Silent?

4 days ago
0
37

Recent Posts

ACTUAL PORT OF LOADING

By Mr Old Man
in :  Uncategorized
11
4,903
7 Sep 2012


BACK-TO-BACK TRANSACTION

By Mr Old Man
in :  Uncategorized
0
2,186
5 Sep 2012


EARLY PRESENTATION

By Mr Old Man
in :  Uncategorized
0
3,011
27 Aug 2012


INSURANCE ISSUED TO ORDER (REVISITED)

By Mr Old Man
in :  Uncategorized
5
3,037
26 Aug 2012


IS THE CONFIRMING BANK A NOMINATED BANK IF THE LC IS AVAILABLE WITH ANOTHER NOMINATED BANK?

By Mr Old Man
in :  Uncategorized
0
2,344
24 Aug 2012


PAYMENT TERM IN CONTRACT AND LC

By Mr Old Man
in :  Uncategorized
0
5,340
14 Aug 2012


1...191192193...279Page 192 of 279

Understanding the Place of Presentation in LCs

By Mr Old Man
10 hours ago
in :  Mr Old Man, Payment, Q&A
0
8

QUESTION Hi Mr. Old Man, I often see the place of presentation stated as the beneficiary’s country or city. But in some LCs, can the place of presentation be fixed as the importer’s city — for example, when the LC is available with the issuing bank? Thanks and regards, Hemant _____________ ANSWER Hi Hemant, It depends on the type of …

Read More

Freight over FOB? No Worries, My Friend!

By Mr Old Man
3 days ago
in :  Mr Old Man, Payment, Q&A
0
9

QUESTION Dear Mr. Old Man, Apologies for the delayed response, and thank you very much for your detailed explanation. Based on your clarification, I understand that in the case we discussed, it would be appropriate to raise a discrepancy for the export documents. I have a further question: Is it possible for the freight amount under a CFR Incoterm to …

Read More

A Note of Thanks – And a Little Update from Mr. Old Man

By Mr Old Man
3 days ago
in :  Articles, Lifestyle, Mr Old Man, Payment, Q&A
0
13

A Note of Thanks – And a Little Update from Mr. Old Man Dear friends, Despite the growing number of resources and the rise of tools like ChatGPT, I’m deeply touched that so many of you—both in Vietnam and around the world—still trust me with your questions about international payments and trade finance. Thank you sincerely for your continued confidence. …

Read More

When the Account Name Doesn’t Match the Number: Should the Bank Be Held Liable?

By Mr Old Man
4 days ago
in :  Articles, Mr Old Man
0
22

I recently received an email from a friend — a lawyer working at Hana Bank in South Korea. He explained that his bank is currently dealing with a wave of fraudulent international transfers. In these cases, hackers had intercepted email communications between businesses and altered the beneficiary’s account number in the payment instructions. As a result, tens of millions of …

Read More

Is a CPBL Acceptable When the LC Is Silent?

By Mr Old Man
4 days ago
in :  Mr Old Man, Payment, Q&A
0
37

QUESTION Dear Sir, Need your expertise again as your explanations are always easy to understand for learners like us. Just wanted to know if L/C is silent on the type of required B/L but a CPBL (chartered B/L) is presented I/O Normal B/L in the shipment of oil (mostly CPBL are presented in the case of shipment of Oil). Can …

Read More

A Case of Damaged Steel Coils and Conflicting Clauses: Is this an Unclean Bill of Lading?

By Mr Old Man
5 days ago
in :  Mr Old Man, Payment, Q&A
0
19

QUESTION Dear Mr. Old Man, We appreciate if you give your opinion on the following case: We presented the documents including 3/3 original bills of lading under the letter of credit to the issuing bank. The bill of lading indicates: SHIPPED at the Port of Loading in apparent good order and condition on board the Vessel for carriage to the …

Read More

Unpacking a New LC Payment Practice: MT103 at Port of Loading?

By Mr Old Man
5 days ago
in :  Mr Old Man, Payment, Q&A
0
116

QUESTION Dear Mr. Old Man, Thank you very much for your reply and guidance. I have benefited a great deal from your explanations. Regarding the payment method mentioned in my previous email, I learned of a new practice yesterday and would like to ask for your assessment: The transaction method I referred to has gradually developed in recent years. Currently, …

Read More

Red Flags in a Copper Deal Under CIF Terms

By Mr Old Man
6 days ago
in :  Mr Old Man, Payment, Q&A
0
49

QUESTION  Dear Mr. Old Man, I hope this message finds you well. Please forgive my intrusion but having seen your highly professional explanations on letters of credit, I would like to consult you on a professional matter. I am a trader from China, and as I am still in the initial stages of my business, I have some confusion regarding …

Read More

Can a BG Be Transferred? Clarifying Rights and Risks under URDG 758

By Mr Old Man
7 days ago
in :  Mr Old Man, Payment, Q&A
0
16

QUESTION Dear Mr. Old Man, I have some questions regarding a transferable bank guarantee (BG) that needs your expert opinion: Bank A advised our company (the beneficiary) of a BG issued by Bank I with the following terms and conditions: The BG is transferable Payment condition: Bank I shall pay upon receipt of the demand accompanied by CCIC Certificate issued …

Read More

Truck Receipts and Maturity Date: Does the Latest Date Rule Apply?

By Mr Old Man
1 week ago
in :  Mr Old Man, Payment, Q&A
0
16

QUESTION Dear Sir, Hope everything is in good spirits. I wanted your valuable feedback on this scenario of calculation of the maturity date. Now, let say we have received the bill of USD 100,000.00 with multiple truck receipts with dates ranging from 01.06.2025 to 20.06.2025.  The usance period is 60 days from  the T/R date. Currently the due date for the …

Read More
Mr Old Man

Understanding the Place of Presentation in LCs

By Mr Old Man
10 hours ago
0
8

QUESTION Hi Mr. Old Man, I often see the place of presentation stated as the beneficiary’s country or city. But in some LCs, can the place of presentation be fixed as the importer’s city — for example…

Read More

Freight over FOB? No Worries, My Friend!

3 days ago
0
9

A Note of Thanks – And a Little Update from Mr. Old Man

3 days ago
0
13

When the Account Name Doesn’t Match the Number: Should the Bank Be Held Liable?

4 days ago
0
22

Is a CPBL Acceptable When the LC Is Silent?

4 days ago
0
37

A Case of Damaged Steel Coils and Conflicting Clauses: Is this an Unclean Bill of Lading?

5 days ago
0
19

Unpacking a New LC Payment Practice: MT103 at Port of Loading?

5 days ago
0
116

Red Flags in a Copper Deal Under CIF Terms

6 days ago
0
49

Can a BG Be Transferred? Clarifying Rights and Risks under URDG 758

7 days ago
0
16

Truck Receipts and Maturity Date: Does the Latest Date Rule Apply?

1 week ago
0
16
Mr Old Man

Understanding the Place of Presentation in LCs

By Mr Old Man
10 hours ago
0
8

QUESTION Hi Mr. Old Man, I often see the place of presentation stated as the beneficiary’s country or city. But in some LCs, can the place of presentation be fixed as the importer’s city — for example…

Read More

Freight over FOB? No Worries, My Friend!

3 days ago
0
9

A Note of Thanks – And a Little Update from Mr. Old Man

3 days ago
0
13

When the Account Name Doesn’t Match the Number: Should the Bank Be Held Liable?

4 days ago
0
22

Is a CPBL Acceptable When the LC Is Silent?

4 days ago
0
37

A Case of Damaged Steel Coils and Conflicting Clauses: Is this an Unclean Bill of Lading?

5 days ago
0
19

Unpacking a New LC Payment Practice: MT103 at Port of Loading?

5 days ago
0
116

Red Flags in a Copper Deal Under CIF Terms

6 days ago
0
49

Can a BG Be Transferred? Clarifying Rights and Risks under URDG 758

7 days ago
0
16

Truck Receipts and Maturity Date: Does the Latest Date Rule Apply?

1 week ago
0
16

Understanding the Place of Presentation in LCs

By Mr Old Man
10 hours ago
in :  Mr Old Man, Payment, Q&A
0
8

QUESTION Hi Mr. Old Man, I often see the place of presentation stated as the beneficiary’s country or city. But in some LCs, can the place of presentation be fixed as the importer’s city — for example, when the LC is available with the issuing bank? Thanks and regards, Hemant _____________ ANSWER Hi Hemant, It depends on the type of …

Read More

Freight over FOB? No Worries, My Friend!

By Mr Old Man
3 days ago
in :  Mr Old Man, Payment, Q&A
0
9

QUESTION Dear Mr. Old Man, Apologies for the delayed response, and thank you very much for your detailed explanation. Based on your clarification, I understand that in the case we discussed, it would be appropriate to raise a discrepancy for the export documents. I have a further question: Is it possible for the freight amount under a CFR Incoterm to …

Read More

A Note of Thanks – And a Little Update from Mr. Old Man

By Mr Old Man
3 days ago
in :  Articles, Lifestyle, Mr Old Man, Payment, Q&A
0
13

A Note of Thanks – And a Little Update from Mr. Old Man Dear friends, Despite the growing number of resources and the rise of tools like ChatGPT, I’m deeply touched that so many of you—both in Vietnam and around the world—still trust me with your questions about international payments and trade finance. Thank you sincerely for your continued confidence. …

Read More

When the Account Name Doesn’t Match the Number: Should the Bank Be Held Liable?

By Mr Old Man
4 days ago
in :  Articles, Mr Old Man
0
22

I recently received an email from a friend — a lawyer working at Hana Bank in South Korea. He explained that his bank is currently dealing with a wave of fraudulent international transfers. In these cases, hackers had intercepted email communications between businesses and altered the beneficiary’s account number in the payment instructions. As a result, tens of millions of …

Read More

Is a CPBL Acceptable When the LC Is Silent?

By Mr Old Man
4 days ago
in :  Mr Old Man, Payment, Q&A
0
37

QUESTION Dear Sir, Need your expertise again as your explanations are always easy to understand for learners like us. Just wanted to know if L/C is silent on the type of required B/L but a CPBL (chartered B/L) is presented I/O Normal B/L in the shipment of oil (mostly CPBL are presented in the case of shipment of Oil). Can …

Read More

A Case of Damaged Steel Coils and Conflicting Clauses: Is this an Unclean Bill of Lading?

By Mr Old Man
5 days ago
in :  Mr Old Man, Payment, Q&A
0
19

QUESTION Dear Mr. Old Man, We appreciate if you give your opinion on the following case: We presented the documents including 3/3 original bills of lading under the letter of credit to the issuing bank. The bill of lading indicates: SHIPPED at the Port of Loading in apparent good order and condition on board the Vessel for carriage to the …

Read More

Unpacking a New LC Payment Practice: MT103 at Port of Loading?

By Mr Old Man
5 days ago
in :  Mr Old Man, Payment, Q&A
0
116

QUESTION Dear Mr. Old Man, Thank you very much for your reply and guidance. I have benefited a great deal from your explanations. Regarding the payment method mentioned in my previous email, I learned of a new practice yesterday and would like to ask for your assessment: The transaction method I referred to has gradually developed in recent years. Currently, …

Read More

Red Flags in a Copper Deal Under CIF Terms

By Mr Old Man
6 days ago
in :  Mr Old Man, Payment, Q&A
0
49

QUESTION  Dear Mr. Old Man, I hope this message finds you well. Please forgive my intrusion but having seen your highly professional explanations on letters of credit, I would like to consult you on a professional matter. I am a trader from China, and as I am still in the initial stages of my business, I have some confusion regarding …

Read More

Can a BG Be Transferred? Clarifying Rights and Risks under URDG 758

By Mr Old Man
7 days ago
in :  Mr Old Man, Payment, Q&A
0
16

QUESTION Dear Mr. Old Man, I have some questions regarding a transferable bank guarantee (BG) that needs your expert opinion: Bank A advised our company (the beneficiary) of a BG issued by Bank I with the following terms and conditions: The BG is transferable Payment condition: Bank I shall pay upon receipt of the demand accompanied by CCIC Certificate issued …

Read More

Truck Receipts and Maturity Date: Does the Latest Date Rule Apply?

By Mr Old Man
1 week ago
in :  Mr Old Man, Payment, Q&A
0
16

QUESTION Dear Sir, Hope everything is in good spirits. I wanted your valuable feedback on this scenario of calculation of the maturity date. Now, let say we have received the bill of USD 100,000.00 with multiple truck receipts with dates ranging from 01.06.2025 to 20.06.2025.  The usance period is 60 days from  the T/R date. Currently the due date for the …

Read More
Mr Old Man

Understanding the Place of Presentation in LCs

By Mr Old Man
10 hours ago
0
8

QUESTION Hi Mr. Old Man, I often see the place of presentation stated as the beneficiary’s country or city. But in some LCs, can the place of presentation be fixed as the importer’s city — for example…

Read More

Freight over FOB? No Worries, My Friend!

3 days ago
0
9

A Note of Thanks – And a Little Update from Mr. Old Man

3 days ago
0
13

When the Account Name Doesn’t Match the Number: Should the Bank Be Held Liable?

4 days ago
0
22

Is a CPBL Acceptable When the LC Is Silent?

4 days ago
0
37

A Case of Damaged Steel Coils and Conflicting Clauses: Is this an Unclean Bill of Lading?

5 days ago
0
19

Unpacking a New LC Payment Practice: MT103 at Port of Loading?

5 days ago
0
116

Red Flags in a Copper Deal Under CIF Terms

6 days ago
0
49

Can a BG Be Transferred? Clarifying Rights and Risks under URDG 758

7 days ago
0
16

Truck Receipts and Maturity Date: Does the Latest Date Rule Apply?

1 week ago
0
16
Mr Old Man

Understanding the Place of Presentation in LCs

By Mr Old Man
10 hours ago
0
8

QUESTION Hi Mr. Old Man, I often see the place of presentation stated as the beneficiary’s country or city. But in some LCs, can the place of presentation be fixed as the importer’s city — for example…

Read More

Freight over FOB? No Worries, My Friend!

3 days ago
0
9

A Note of Thanks – And a Little Update from Mr. Old Man

3 days ago
0
13

When the Account Name Doesn’t Match the Number: Should the Bank Be Held Liable?

4 days ago
0
22

Is a CPBL Acceptable When the LC Is Silent?

4 days ago
0
37

A Case of Damaged Steel Coils and Conflicting Clauses: Is this an Unclean Bill of Lading?

5 days ago
0
19

Unpacking a New LC Payment Practice: MT103 at Port of Loading?

5 days ago
0
116

Red Flags in a Copper Deal Under CIF Terms

6 days ago
0
49

Can a BG Be Transferred? Clarifying Rights and Risks under URDG 758

7 days ago
0
16

Truck Receipts and Maturity Date: Does the Latest Date Rule Apply?

1 week ago
0
16
Mr Old Man

Understanding the Place of Presentation in LCs

By Mr Old Man
10 hours ago
0
8

QUESTION Hi Mr. Old Man, I often see the place of presentation stated as the beneficiary’s country or city. But in some LCs, can the place of presentation be fixed as the importer’s city — for example…

Read More

Freight over FOB? No Worries, My Friend!

3 days ago
0
9

A Note of Thanks – And a Little Update from Mr. Old Man

3 days ago
0
13

When the Account Name Doesn’t Match the Number: Should the Bank Be Held Liable?

4 days ago
0
22

Is a CPBL Acceptable When the LC Is Silent?

4 days ago
0
37

A Case of Damaged Steel Coils and Conflicting Clauses: Is this an Unclean Bill of Lading?

5 days ago
0
19

Unpacking a New LC Payment Practice: MT103 at Port of Loading?

5 days ago
0
116

Red Flags in a Copper Deal Under CIF Terms

6 days ago
0
49

Can a BG Be Transferred? Clarifying Rights and Risks under URDG 758

7 days ago
0
16

Truck Receipts and Maturity Date: Does the Latest Date Rule Apply?

1 week ago
0
16
Mr Old Man

Understanding the Place of Presentation in LCs

By Mr Old Man
10 hours ago
0
8

QUESTION Hi Mr. Old Man, I often see the place of presentation stated as the beneficiary’s country or city. But in some LCs, can the place of presentation be fixed as the importer’s city — for example…

Read More

Freight over FOB? No Worries, My Friend!

3 days ago
0
9

A Note of Thanks – And a Little Update from Mr. Old Man

3 days ago
0
13

When the Account Name Doesn’t Match the Number: Should the Bank Be Held Liable?

4 days ago
0
22

Is a CPBL Acceptable When the LC Is Silent?

4 days ago
0
37

A Case of Damaged Steel Coils and Conflicting Clauses: Is this an Unclean Bill of Lading?

5 days ago
0
19

Unpacking a New LC Payment Practice: MT103 at Port of Loading?

5 days ago
0
116

Red Flags in a Copper Deal Under CIF Terms

6 days ago
0
49

Can a BG Be Transferred? Clarifying Rights and Risks under URDG 758

7 days ago
0
16

Truck Receipts and Maturity Date: Does the Latest Date Rule Apply?

1 week ago
0
16

Understanding the Place of Presentation in LCs

By Mr Old Man
in :  Mr Old Man, Payment, Q&A
0
8
14 Jul 2025

QUESTION Hi Mr. Old Man, I often see the place of presentation stated as the beneficiary’s country or city. But in some LCs, can the place of presentation be fixed as the importer’s city — for example, when the LC is available with the issuing bank? Thanks and regards, Hemant _____________ ANSWER Hi Hemant, It depends on the type of …


Freight over FOB? No Worries, My Friend!

By Mr Old Man
in :  Mr Old Man, Payment, Q&A
0
9
12 Jul 2025

QUESTION Dear Mr. Old Man, Apologies for the delayed response, and thank you very much for your detailed explanation. Based on your clarification, I understand that in the case we discussed, it would be appropriate to raise a discrepancy for the export documents. I have a further question: Is it possible for the freight amount under a CFR Incoterm to …


A Note of Thanks – And a Little Update from Mr. Old Man

By Mr Old Man
in :  Articles, Lifestyle, Mr Old Man, Payment, Q&A
0
13
11 Jul 2025

A Note of Thanks – And a Little Update from Mr. Old Man Dear friends, Despite the growing number of resources and the rise of tools like ChatGPT, I’m deeply touched that so many of you—both in Vietnam and around the world—still trust me with your questions about international payments and trade finance. Thank you sincerely for your continued confidence. …


When the Account Name Doesn’t Match the Number: Should the Bank Be Held Liable?

By Mr Old Man
in :  Articles, Mr Old Man
0
22
11 Jul 2025

I recently received an email from a friend — a lawyer working at Hana Bank in South Korea. He explained that his bank is currently dealing with a wave of fraudulent international transfers. In these cases, hackers had intercepted email communications between businesses and altered the beneficiary’s account number in the payment instructions. As a result, tens of millions of …


Is a CPBL Acceptable When the LC Is Silent?

By Mr Old Man
in :  Mr Old Man, Payment, Q&A
0
37
10 Jul 2025

QUESTION Dear Sir, Need your expertise again as your explanations are always easy to understand for learners like us. Just wanted to know if L/C is silent on the type of required B/L but a CPBL (chartered B/L) is presented I/O Normal B/L in the shipment of oil (mostly CPBL are presented in the case of shipment of Oil). Can …


A Case of Damaged Steel Coils and Conflicting Clauses: Is this an Unclean Bill of Lading?

By Mr Old Man
in :  Mr Old Man, Payment, Q&A
0
19
10 Jul 2025

QUESTION Dear Mr. Old Man, We appreciate if you give your opinion on the following case: We presented the documents including 3/3 original bills of lading under the letter of credit to the issuing bank. The bill of lading indicates: SHIPPED at the Port of Loading in apparent good order and condition on board the Vessel for carriage to the …


Unpacking a New LC Payment Practice: MT103 at Port of Loading?

By Mr Old Man
in :  Mr Old Man, Payment, Q&A
0
116
9 Jul 2025

QUESTION Dear Mr. Old Man, Thank you very much for your reply and guidance. I have benefited a great deal from your explanations. Regarding the payment method mentioned in my previous email, I learned of a new practice yesterday and would like to ask for your assessment: The transaction method I referred to has gradually developed in recent years. Currently, …


Red Flags in a Copper Deal Under CIF Terms

By Mr Old Man
in :  Mr Old Man, Payment, Q&A
0
49
8 Jul 2025

QUESTION  Dear Mr. Old Man, I hope this message finds you well. Please forgive my intrusion but having seen your highly professional explanations on letters of credit, I would like to consult you on a professional matter. I am a trader from China, and as I am still in the initial stages of my business, I have some confusion regarding …


Can a BG Be Transferred? Clarifying Rights and Risks under URDG 758

By Mr Old Man
in :  Mr Old Man, Payment, Q&A
0
16
8 Jul 2025

QUESTION Dear Mr. Old Man, I have some questions regarding a transferable bank guarantee (BG) that needs your expert opinion: Bank A advised our company (the beneficiary) of a BG issued by Bank I with the following terms and conditions: The BG is transferable Payment condition: Bank I shall pay upon receipt of the demand accompanied by CCIC Certificate issued …


Truck Receipts and Maturity Date: Does the Latest Date Rule Apply?

By Mr Old Man
in :  Mr Old Man, Payment, Q&A
0
16
7 Jul 2025

QUESTION Dear Sir, Hope everything is in good spirits. I wanted your valuable feedback on this scenario of calculation of the maturity date. Now, let say we have received the bill of USD 100,000.00 with multiple truck receipts with dates ranging from 01.06.2025 to 20.06.2025.  The usance period is 60 days from  the T/R date. Currently the due date for the …


Understanding the Place of Presentation in LCs

By Mr Old Man
10 hours ago

Freight over FOB? No Worries, My Friend!

By Mr Old Man
3 days ago

A Note of Thanks – And a Little Update from Mr. Old Man

3 days ago
0
13

When the Account Name Doesn’t Match the Number: Should the Bank Be Held Liable?

4 days ago
0
22

Is a CPBL Acceptable When the LC Is Silent?

4 days ago
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A Case of Damaged Steel Coils and Conflicting Clauses: Is this an Unclean Bill of Lading?

5 days ago
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Unpacking a New LC Payment Practice: MT103 at Port of Loading?

5 days ago
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116

Red Flags in a Copper Deal Under CIF Terms

6 days ago
0
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Can a BG Be Transferred? Clarifying Rights and Risks under URDG 758

7 days ago
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Truck Receipts and Maturity Date: Does the Latest Date Rule Apply?

1 week ago
0
16
Mr Old Man

Understanding the Place of Presentation in LCs

By Mr Old Man
10 hours ago
0
8

QUESTION Hi Mr. Old Man, I often see the place of presentation stated as the beneficiary’s country or city. But in some LCs, can the place of presentation be fixed as the importer’s city — for example…

Read More

Freight over FOB? No Worries, My Friend!

3 days ago
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9

A Note of Thanks – And a Little Update from Mr. Old Man

3 days ago
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13

When the Account Name Doesn’t Match the Number: Should the Bank Be Held Liable?

4 days ago
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22

Is a CPBL Acceptable When the LC Is Silent?

4 days ago
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37

A Case of Damaged Steel Coils and Conflicting Clauses: Is this an Unclean Bill of Lading?

5 days ago
0
19

Unpacking a New LC Payment Practice: MT103 at Port of Loading?

5 days ago
0
116

Red Flags in a Copper Deal Under CIF Terms

6 days ago
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49

Can a BG Be Transferred? Clarifying Rights and Risks under URDG 758

7 days ago
0
16

Truck Receipts and Maturity Date: Does the Latest Date Rule Apply?

1 week ago
0
16
Mr Old Man

Understanding the Place of Presentation in LCs

By Mr Old Man
10 hours ago
0
8

QUESTION Hi Mr. Old Man, I often see the place of presentation stated as the beneficiary’s country or city. But in some LCs, can the place of presentation be fixed as the importer’s city — for example…

Read More

Freight over FOB? No Worries, My Friend!

3 days ago
0
9

A Note of Thanks – And a Little Update from Mr. Old Man

3 days ago
0
13

When the Account Name Doesn’t Match the Number: Should the Bank Be Held Liable?

4 days ago
0
22

Is a CPBL Acceptable When the LC Is Silent?

4 days ago
0
37

A Case of Damaged Steel Coils and Conflicting Clauses: Is this an Unclean Bill of Lading?

5 days ago
0
19

Unpacking a New LC Payment Practice: MT103 at Port of Loading?

5 days ago
0
116

Red Flags in a Copper Deal Under CIF Terms

6 days ago
0
49

Can a BG Be Transferred? Clarifying Rights and Risks under URDG 758

7 days ago
0
16

Truck Receipts and Maturity Date: Does the Latest Date Rule Apply?

1 week ago
0
16

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Recent Posts

Understanding the Place of Presentation in LCs

Mr Old Man
10 hours ago

Freight over FOB? No Worries, My Friend!

Mr Old Man
3 days ago

A Note of Thanks – And a Little Update from Mr. Old Man

Mr Old Man
3 days ago

When the Account Name Doesn’t Match the Number: Should the Bank Be Held Liable?

Mr Old Man
4 days ago
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UCP 600 ARTICLES 30 AND 31

Mr Old Man
March 16, 2010

FIELD 72 (SENDER TO RECEIVER INFORMATION) OF MT 103

Mr Old Man
March 8, 2010

TRANSFERRING BANK S LIABILITY UNDER TRANSFERRED LC

Mr Old Man
March 6, 2010

TO ORDER BILL OF LADING AND ENDORSEMENT

Mr Old Man
March 6, 2010

Understanding the Place of Presentation in LCs

Mr Old Man
10 hours ago

Freight over FOB? No Worries, My Friend!

Mr Old Man
3 days ago

A Note of Thanks – And a Little Update from Mr. Old Man

Mr Old Man
3 days ago

When the Account Name Doesn’t Match the Number: Should the Bank Be Held Liable?

Mr Old Man
4 days ago

Lica Mauer: In reply to Lucky comment: there is a clear omission of terms and conditions eit...

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Mr Old Man: Hi, I am not sure I understand your question correctly. According to sub-article...

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Monkey Mountain Challenge 2025 negotiation Documents lost in transit SBLC non-documentary conditions On board notation Amendment expiry-date place-of-expiry notify party Late presentation beneficiarys-name NUMBER OF ORIGINALS Hai Dang Tien Sa Insurance document transferred LC without delay CPBL Drafts under confirmed LC lc-availability 24 hour charity cycling event confirmation Tà Lang Disposal of docs lc-expired

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PARTIAL SHIPMENTS UNDER SUB-ARTICLE 31 (B)

Mr Old Man
October 19, 2015

UCP 600 ARTICLES 30 AND 31

Mr Old Man
March 16, 2010

WHETHER MT999 IS AN AUTHENTICATED SWIFT MESSAGE

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LC CONFIRMED BY THE FIRST ADVISING BANK

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Travel

EARLY PRESENTATION

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QUESTION Dear Mr Old Man, I am Dang from Vietnam Prosperity bank. I know …

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    INTERPRETATION OF SUB-ARTICLE 14(B)

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