Mr Old Man 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… Read More
Articles BOOM BOOM ROCK More than 50 years have passed since the Americans withdrew from Monkey Mountain (the Son Tra Peninsula, Da Nang, Vietnam). The landscape has changed dramatically, and hardly anyone remembers Boom Boo… Read More
TRANSFERRING BANK'S PAYMENT OBLIGATION 6 Mar 2010 QUERY FROM MANISH JAIN Article 38 (h) deal with substitution of invoice and draft in transferable credit. First beneficiary has the right to substitute its own invoice & drafts for those of second beneficiaries, for an amount totaling to the full value of the credit. First, beneficiary is also permitted to draw for any difference in amount between its draft, …
INSURANCE COVERING ALL RISKS 6 Mar 2010 QUERY Em chào anh, Gần đây em mới được biết đến blog của anh, em đã đọc và thấy rất hữu ích cho công việc của mình.Hiện giờ em đang cần giải quyết gấp vấn đề sau, em nhờ anh tư vấn giúp em với: L/C quy định bảo hiểm 'All risks' including war risks and strkes clause..Cert of Marine …
US ANTI BOYCOTT REGULATIONS 6 Mar 2010 QUERY FROM LTQ Dear Mr Duc B/L clause: the ship is not of Israelian flag and will not call any israelian ports water and/or territories and is not entered into black list of arabic countries the issuing bank refuse the docs with the discrepancy: boycott clause (according to U.S law). Pls give your comment on this case Thank so much. …
SURRENDERED BILL OF LADING 6 Mar 2010 QUERY FROM LINH DAN Cám ơn anh đã trả lời câu hỏi hơi…đáng ghét hôm bữa của em nhé! Anh ơi, hôm rồi có 1KH đưa hồ sơ để th.toán TTR, mà B/L không phải B/L gốc,cũng không phải copy, trên B/L đó còn ghi là "NO ORIGINAL BL ISSUED. ORIGINAL BL SURRENDERED IN SINGAPORE". Em không hiểu: B/L này …
RISKS IN LC TRANSACTIONS 6 Mar 2010 Dear HP, Subject: Risks to exporter and importer in LC transactions Documentary Credit (LC) is defined in UCP 600 Article 2 as any arrangement, however named or described, that is irrevocable and thereby constitutes a definite undertaking of the issuing bank to honour a complying presentation. That is to say, the exporter (beneficiary) will obtain the payment from the issuing …
THE TERMS PREPAY AND PURCHASE 6 Mar 2010 QUERY FROM MEHDIK ON THE TERMS “PREPAY” AND “PURCHASE” Dear all What are differences between prepay and purchase of a accepted draft or a deferred payment undertaking under sub-article 12 b of UCP 600 ? I would be highly appreciated if you give a good example in this regrds.Regards ——————————– ANSWER FROM MR. OLD MAN Prepay and purchase Hi, It …
BOOM BOOM ROCK More than 50 years have passed since the Americans withdrew from Monkey Mountain (the Son Tra Peninsula, Da Nang, Vietnam). The landscape has changed dramatically, and hardly anyone remembers Boom Boom Rock anymore—or if they do, they assume it no longer exists. Yet, Boom Boom Rock still stands there in perfect condition, hidden amid dense foliage, as if silently waiting … Read More
NAMAZU – THE HOÀI RIVER MONSTER That Sunday morning, I embarked on a century ride—cycling from Da Nang through Hội An to Linh Ứng Pagoda on the Son Trà Peninsula—and completed exactly 100 km after passing Red Beach and returning home. Arriving in Hội An before 6 a.m., with mist shrouding every corner and sleepy boats drifting along the Hoài River, I was startled to discover … Read More
CYCLING TO GÒ NỔI Returning to the Homeland of Gò Nổi The New Land Has Finally Turned Green (*) Last Sunday, while cycling to Duy Vinh, I checked in at the Do Do village featured in Nguyễn Nhật Ánh’s Mắt Biếc when, passing by Cau Lau Bridge, I caught sight of Gò Nổi in the middle of the Thu Bồn River. That image made … Read More
DISCOVERING RURAL CHARM: CYCLING TO NỒI RANG MARKET Last week, while cycling to Duy Vinh, I passed by some old brick kilns and snapped a few photos to post on Facebook. A friend commented, asking if I had visited Nồi Rang Market. The unusual name immediately piqued my curiosity, so I googled it and decided to organize a weekend cycling trip with a few friends to explore it. … Read More
THE ABANDONED CHURCH AND THE ESPANOL CEMETERY ON SƠN TRÀ MOUNTAIN That day, while cycling to Tien Sa Port, I visited the Espanol Cemetery and happened to discover an abandoned church on Sơn Trà Mountain (Monkey Mountain), less than 100 meters away from the cemetery. Surprisingly, thousands of results can be found on Google containing information related to “Espanol cemetery”, “Spanish cemetery” or “Ossuaire” but almost no information can be found … Read More
CLARIFICATION ON PAYMENT INSTRUCTIONS IN COVERING SCHEDULE QUESTION Dear Mr. Old Man, I hope you are doing well. I have a small query regarding document presentation and payment instructions. We are the beneficiary bank, acting as the Presenting Bank. The beneficiary submitted documents to us for forwarding to the nominated bank for negotiation, as the LC restricts negotiation to the nominated bank. When forwarding the documents, we … Read More
WHEN A BILL OF LADING MUST INDICATE ACTUAL PORT OF DISCHARGE QUESTION Dear Sir, My letter of credit (LC) specifies the Port of Discharge as “BAHRAIN INTERNATIONAL AIRPORT AND/OR ANY SEAPORT OF BAHRAIN.” For a sea shipment, if we indicate the Port of Discharge as “Bahrain Seaport of Bahrain” or “Bahrain, Bahrain” on the bill of lading, would either of these be considered a discrepancy? Additionally, could you please provide the … Read More
POTENTIAL FRAUD IN SCRAP METAL TRADE: A RISKY DEAL? QUESTION Dear Mr. Old Man, My name is Th., and I am currently living and working in Ho Chi Minh City. At the moment, I am working on several projects related to international payments. However, to be honest, I know nothing about this field because my background is in construction. I have been struggling quite a bit with international trade … Read More
INVOICE NOT CERTIFYING WHAT HAS NOT BEEN SHIPPED QUESTION Dear Sir, LC allows both AIR and SEA shipment. Amount: USD 100,000 Shipment by AIR: USD 40,000 Shipment by SEA: USD 60,000 43P: Partial Shipments: ALLOWED 43T: Transshipments: ALLOWED LC Clause states “INVOICE MUST CERTIFY THAT THE MERCHANDISE ARE IN ACCORDANCE WITH PROFORMA INVOICE NO. XXX DATE XXX FOR USD 40,000.00 AND PROFORMA INVOICE NO. YYY DATED YYY FOR … Read More
WHAT IS THE IMPACT OF EXCLUSION OF UCP 600 SUB-ARTICLE 12b? QUESTION Dear Mr. Old Man, I hope my email finds you doing well I would ask you if the issuing bank wish to exclude article 12 b by credit what is the impact and scenario in this case. Thanks for your reply in advance Regards Firas —- ANSWER Hi, UCP 600 Sub-article 12(b) states that when an issuing bank nominates … Read More
Articles BOOM BOOM ROCK More than 50 years have passed since the Americans withdrew from Monkey Mountain (the Son Tra Peninsula, Da Nang, Vietnam). The landscape has changed dramatically, and hardly anyone remembers Boom Boo… Read More
Articles BOOM BOOM ROCK More than 50 years have passed since the Americans withdrew from Monkey Mountain (the Son Tra Peninsula, Da Nang, Vietnam). The landscape has changed dramatically, and hardly anyone remembers Boom Boo… Read More
BOOM BOOM ROCK More than 50 years have passed since the Americans withdrew from Monkey Mountain (the Son Tra Peninsula, Da Nang, Vietnam). The landscape has changed dramatically, and hardly anyone remembers Boom Boom Rock anymore—or if they do, they assume it no longer exists. Yet, Boom Boom Rock still stands there in perfect condition, hidden amid dense foliage, as if silently waiting … Read More
NAMAZU – THE HOÀI RIVER MONSTER That Sunday morning, I embarked on a century ride—cycling from Da Nang through Hội An to Linh Ứng Pagoda on the Son Trà Peninsula—and completed exactly 100 km after passing Red Beach and returning home. Arriving in Hội An before 6 a.m., with mist shrouding every corner and sleepy boats drifting along the Hoài River, I was startled to discover … Read More
CYCLING TO GÒ NỔI Returning to the Homeland of Gò Nổi The New Land Has Finally Turned Green (*) Last Sunday, while cycling to Duy Vinh, I checked in at the Do Do village featured in Nguyễn Nhật Ánh’s Mắt Biếc when, passing by Cau Lau Bridge, I caught sight of Gò Nổi in the middle of the Thu Bồn River. That image made … Read More
DISCOVERING RURAL CHARM: CYCLING TO NỒI RANG MARKET Last week, while cycling to Duy Vinh, I passed by some old brick kilns and snapped a few photos to post on Facebook. A friend commented, asking if I had visited Nồi Rang Market. The unusual name immediately piqued my curiosity, so I googled it and decided to organize a weekend cycling trip with a few friends to explore it. … Read More
THE ABANDONED CHURCH AND THE ESPANOL CEMETERY ON SƠN TRÀ MOUNTAIN That day, while cycling to Tien Sa Port, I visited the Espanol Cemetery and happened to discover an abandoned church on Sơn Trà Mountain (Monkey Mountain), less than 100 meters away from the cemetery. Surprisingly, thousands of results can be found on Google containing information related to “Espanol cemetery”, “Spanish cemetery” or “Ossuaire” but almost no information can be found … Read More
CLARIFICATION ON PAYMENT INSTRUCTIONS IN COVERING SCHEDULE QUESTION Dear Mr. Old Man, I hope you are doing well. I have a small query regarding document presentation and payment instructions. We are the beneficiary bank, acting as the Presenting Bank. The beneficiary submitted documents to us for forwarding to the nominated bank for negotiation, as the LC restricts negotiation to the nominated bank. When forwarding the documents, we … Read More
WHEN A BILL OF LADING MUST INDICATE ACTUAL PORT OF DISCHARGE QUESTION Dear Sir, My letter of credit (LC) specifies the Port of Discharge as “BAHRAIN INTERNATIONAL AIRPORT AND/OR ANY SEAPORT OF BAHRAIN.” For a sea shipment, if we indicate the Port of Discharge as “Bahrain Seaport of Bahrain” or “Bahrain, Bahrain” on the bill of lading, would either of these be considered a discrepancy? Additionally, could you please provide the … Read More
POTENTIAL FRAUD IN SCRAP METAL TRADE: A RISKY DEAL? QUESTION Dear Mr. Old Man, My name is Th., and I am currently living and working in Ho Chi Minh City. At the moment, I am working on several projects related to international payments. However, to be honest, I know nothing about this field because my background is in construction. I have been struggling quite a bit with international trade … Read More
INVOICE NOT CERTIFYING WHAT HAS NOT BEEN SHIPPED QUESTION Dear Sir, LC allows both AIR and SEA shipment. Amount: USD 100,000 Shipment by AIR: USD 40,000 Shipment by SEA: USD 60,000 43P: Partial Shipments: ALLOWED 43T: Transshipments: ALLOWED LC Clause states “INVOICE MUST CERTIFY THAT THE MERCHANDISE ARE IN ACCORDANCE WITH PROFORMA INVOICE NO. XXX DATE XXX FOR USD 40,000.00 AND PROFORMA INVOICE NO. YYY DATED YYY FOR … Read More
WHAT IS THE IMPACT OF EXCLUSION OF UCP 600 SUB-ARTICLE 12b? QUESTION Dear Mr. Old Man, I hope my email finds you doing well I would ask you if the issuing bank wish to exclude article 12 b by credit what is the impact and scenario in this case. Thanks for your reply in advance Regards Firas —- ANSWER Hi, UCP 600 Sub-article 12(b) states that when an issuing bank nominates … Read More
Articles BOOM BOOM ROCK More than 50 years have passed since the Americans withdrew from Monkey Mountain (the Son Tra Peninsula, Da Nang, Vietnam). The landscape has changed dramatically, and hardly anyone remembers Boom Boo… Read More
Articles BOOM BOOM ROCK More than 50 years have passed since the Americans withdrew from Monkey Mountain (the Son Tra Peninsula, Da Nang, Vietnam). The landscape has changed dramatically, and hardly anyone remembers Boom Boo… Read More
Articles BOOM BOOM ROCK More than 50 years have passed since the Americans withdrew from Monkey Mountain (the Son Tra Peninsula, Da Nang, Vietnam). The landscape has changed dramatically, and hardly anyone remembers Boom Boo… Read More
Articles BOOM BOOM ROCK More than 50 years have passed since the Americans withdrew from Monkey Mountain (the Son Tra Peninsula, Da Nang, Vietnam). The landscape has changed dramatically, and hardly anyone remembers Boom Boo… Read More
BOOM BOOM ROCK 24 Mar 2025 More than 50 years have passed since the Americans withdrew from Monkey Mountain (the Son Tra Peninsula, Da Nang, Vietnam). The landscape has changed dramatically, and hardly anyone remembers Boom Boom Rock anymore—or if they do, they assume it no longer exists. Yet, Boom Boom Rock still stands there in perfect condition, hidden amid dense foliage, as if silently waiting …
NAMAZU – THE HOÀI RIVER MONSTER 24 Mar 2025 That Sunday morning, I embarked on a century ride—cycling from Da Nang through Hội An to Linh Ứng Pagoda on the Son Trà Peninsula—and completed exactly 100 km after passing Red Beach and returning home. Arriving in Hội An before 6 a.m., with mist shrouding every corner and sleepy boats drifting along the Hoài River, I was startled to discover …
CYCLING TO GÒ NỔI 24 Mar 2025 Returning to the Homeland of Gò Nổi The New Land Has Finally Turned Green (*) Last Sunday, while cycling to Duy Vinh, I checked in at the Do Do village featured in Nguyễn Nhật Ánh’s Mắt Biếc when, passing by Cau Lau Bridge, I caught sight of Gò Nổi in the middle of the Thu Bồn River. That image made …
DISCOVERING RURAL CHARM: CYCLING TO NỒI RANG MARKET 23 Mar 2025 Last week, while cycling to Duy Vinh, I passed by some old brick kilns and snapped a few photos to post on Facebook. A friend commented, asking if I had visited Nồi Rang Market. The unusual name immediately piqued my curiosity, so I googled it and decided to organize a weekend cycling trip with a few friends to explore it. …
THE ABANDONED CHURCH AND THE ESPANOL CEMETERY ON SƠN TRÀ MOUNTAIN 23 Mar 2025 That day, while cycling to Tien Sa Port, I visited the Espanol Cemetery and happened to discover an abandoned church on Sơn Trà Mountain (Monkey Mountain), less than 100 meters away from the cemetery. Surprisingly, thousands of results can be found on Google containing information related to “Espanol cemetery”, “Spanish cemetery” or “Ossuaire” but almost no information can be found …
CLARIFICATION ON PAYMENT INSTRUCTIONS IN COVERING SCHEDULE 22 Mar 2025 QUESTION Dear Mr. Old Man, I hope you are doing well. I have a small query regarding document presentation and payment instructions. We are the beneficiary bank, acting as the Presenting Bank. The beneficiary submitted documents to us for forwarding to the nominated bank for negotiation, as the LC restricts negotiation to the nominated bank. When forwarding the documents, we …
WHEN A BILL OF LADING MUST INDICATE ACTUAL PORT OF DISCHARGE 20 Mar 2025 QUESTION Dear Sir, My letter of credit (LC) specifies the Port of Discharge as “BAHRAIN INTERNATIONAL AIRPORT AND/OR ANY SEAPORT OF BAHRAIN.” For a sea shipment, if we indicate the Port of Discharge as “Bahrain Seaport of Bahrain” or “Bahrain, Bahrain” on the bill of lading, would either of these be considered a discrepancy? Additionally, could you please provide the …
POTENTIAL FRAUD IN SCRAP METAL TRADE: A RISKY DEAL? 20 Mar 2025 QUESTION Dear Mr. Old Man, My name is Th., and I am currently living and working in Ho Chi Minh City. At the moment, I am working on several projects related to international payments. However, to be honest, I know nothing about this field because my background is in construction. I have been struggling quite a bit with international trade …
INVOICE NOT CERTIFYING WHAT HAS NOT BEEN SHIPPED 18 Mar 2025 QUESTION Dear Sir, LC allows both AIR and SEA shipment. Amount: USD 100,000 Shipment by AIR: USD 40,000 Shipment by SEA: USD 60,000 43P: Partial Shipments: ALLOWED 43T: Transshipments: ALLOWED LC Clause states “INVOICE MUST CERTIFY THAT THE MERCHANDISE ARE IN ACCORDANCE WITH PROFORMA INVOICE NO. XXX DATE XXX FOR USD 40,000.00 AND PROFORMA INVOICE NO. YYY DATED YYY FOR …
WHAT IS THE IMPACT OF EXCLUSION OF UCP 600 SUB-ARTICLE 12b? 17 Mar 2025 QUESTION Dear Mr. Old Man, I hope my email finds you doing well I would ask you if the issuing bank wish to exclude article 12 b by credit what is the impact and scenario in this case. Thanks for your reply in advance Regards Firas —- ANSWER Hi, UCP 600 Sub-article 12(b) states that when an issuing bank nominates …
Articles BOOM BOOM ROCK More than 50 years have passed since the Americans withdrew from Monkey Mountain (the Son Tra Peninsula, Da Nang, Vietnam). The landscape has changed dramatically, and hardly anyone remembers Boom Boo… Read More
Articles BOOM BOOM ROCK More than 50 years have passed since the Americans withdrew from Monkey Mountain (the Son Tra Peninsula, Da Nang, Vietnam). The landscape has changed dramatically, and hardly anyone remembers Boom Boo… Read More