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
Mr Old Man When the LC Has Expired: Can the 10-Day Presentation Period Save the Beneficiary? Introduction This question illustrates a common misunderstanding: a presentation period stipulated in the LC does not operate independently of the LC expiry date. Even where the stipulated period exte… Read More
Certificate on Beneficiary’s Letterhead but Signed by Freight Forwarder — Discrepancy or No Discrepancy?
WHETHER AN EXPIRED LC CAN BE AMENDED TO EXTEND THE EXPIRY DATE 22 May 2015 QUESTION Dear Mr. Old Man, Can an expired LC be amended to extend the expiry date? Is there any provision that prevents the expired letter of credit from being amended to extend the expiry date? Thank you PMB ——– ANSWER Hi, The answer is No and Yes. It depends. According to UCP 600 sub-article 10 (a), except as otherwise …
NOTIFY PARTY; FREIGHT COLLECT AND FREIGHT PAYABLE AT DESTINATION; WHETHER A BOX, FIELD OR SPACE IS TO BE COMPLEDTED WITH A SIGNATURE 14 May 2015 QUESTION Dear Mr. Old Man, LC requires: FULL SET 3/3 ORGINAL CLEAN ON BOARD BILLS OF LADING MADE OUT TO ORDER AND BLANK ENDORESED, NOTIFY APPLICANT MARKED FREIGHT COLLECT. Field 50 (Applicant): ABC GMBH + CO.KG DONAUWOERTHER STR. 3 – 5 866 RAIN AM LECH DEUTSCHLAND Bill of lading presented shows as follows: 1) Notify party shows the applicant’s name …
WHERE THE ISSUING BANK DOES NOT ACCEPT THE WAIVER OF THE APPLICANT AND RETURNS THE DOCUMENTS TO THE PRESENTER 11 May 2015 QUESTION Hi bro, Could you give me some advice concerning the case where the issuing bank may refuse to honour and return documents even when the applicant agrees to waive the discrepancies? What situations that the issuing bank may do that ? RN ANSWER Dear RM, Thank you for your question. It is rare but it may occur in the following …
PARTIAL PAYMENT ON DISCREPANT DOCUMENTS 8 May 2015 Can an issuing bank pay only part of a discrepant presentation based on the applicant’s instructions? In documentary credit practice, situations sometimes arise where the applicant is willing to accept discrepant documents, but only on condition that the beneficiary agrees to a reduction in payment. This usually happens when market conditions have changed and the importer no longer wishes to …
NOTIFY PARTY ON BILL OF LADING 6 May 2015 QUESTION Dear Mr. Old Man, LC states as follows: – Field 50 (Applicant): AAA Company … Hong Kong – Field 46A: (Documents required) … Full set of clean on board original ocean bill of lading made out to the order of ABC Bank Ltd notify applicant, marked “freight prepaid”. … – Field 47A (Additional conditions): All documents must state notify …
DISCOUNTING VS NEGOTIATION 25 Apr 2015 QUESTION What is the difference between discounting and negotiation? Please clarify. MK ———– ANSWER Hi, With regard to the purchase of drafts and/or documents presented under LCs, UCP 600 does not use the term “discounting” but the term “negotiation” which means the purchase by the nominated bank of drafts (drawn on a bank other than the nominated bank) and/or documents, …
When the LC Has Expired: Can the 10-Day Presentation Period Save the Beneficiary? Introduction This question illustrates a common misunderstanding: a presentation period stipulated in the LC does not operate independently of the LC expiry date. Even where the stipulated period extends beyond the expiry date, the beneficiary cannot use that period to keep the credit alive after expiry. Question Dear Mr. Old Man, LC expiry date: 1/8/2026 Latest shipment date: 1/8/2026 Field … Read More
Does “Shipped on Board” Satisfy a “Clean Shipped on Board” Requirement? Introduction The wording used in a letter of credit can sometimes appear more demanding than the wording normally used on a transport document. This raises an interesting practical question: when an L/C requires a “clean shipped on board” bill of lading, can a B/L showing only “shipped on board” be accepted? In this case, the shipping line’s policy does not … Read More
Certificate on Beneficiary’s Letterhead but Signed by Freight Forwarder — Discrepancy or No Discrepancy? Introduction A question sometimes arises when a documentary credit requires a certificate to be issued by one of several parties, expressed using slash marks, but the presented certificate appears on the beneficiary’s letterhead while being signed and stamped by a freight forwarder. The question is whether the difference between the letterhead and the signatory constitutes a discrepancy. Question Dear Mr. … Read More
Thà tử tế nhầm Sáng ra, ngồi nhà cà phê, lướt Facebook, Mr. Old Man gặp một cái tút tiếng Anh thiệt hay. Nguyên văn như thế này: “Do not regret being a good person to the wrong people. Your kindness was real even if their intentions were not. Never feel ashamed for having a soft heart in a world full of selfishness. The … Read More
Nếu chứng nhận kết hôn cũng có ngày hết hạn… Mr. Old Man tình cờ thấy một tút hài bằng tiếng Anh trên Facebook, đọc xong thấy cũng… đáng suy nghĩ. Cái tút đó viết: “Nếu chứng nhận kết hôn mà cũng có ngày hết hạn như bằng lái xe, hầu hết mọi người có lẽ sẽ không gia hạn.” Còn bạn thì sao? Có gia hạn không? Hỏi vui … Read More
Alzheimer là… Ai hay quên Mr. Old Man đọc một cái tút hài trên Facebook mà giật mình: Hình như mình cũng bắt đầu có triệu chứng “Ai hay quên” rồi thì phải! Chuyện là thằng cháu hỏi ông nội: — Nội ơi, sao ông nội U70 rồi mà vẫn gọi bà nội là “em yêu” ngọt xớt vậy? Chắc ông có bí mật gì phải không? Ông … Read More
What Would the World Be Like If It Were Ruled by Ladies? Mr. Old Man couldn’t help but burst out laughing when he came across this funny little post in English. It said: “If women ruled the world, there would be no wars. Just a bunch of jealous countries, not talking to each other.” Luckily, the author used the second conditional — a hypothetical situation contrary to the present reality. Mr. Old … Read More
Thế giới trị vì bởi các quý bà sẽ ra sao hè!? Đọc cái tút hài bằng tiếng Anh, Mr. Old Man không khỏi bật cười. Cái tút đó viết: “If women ruled the world, there would be no wars. Just a bunch of jealous countries, not talking to each other.” Hiểu nôm na là: “Nếu phụ nữ trị vì thế giới, thì sẽ chẳng còn chiến tranh. Chỉ còn một đám … Read More
Thanh toán T/T trong kinh doanh chuyển khẩu hàng hóa Question Cháu chào chú ạ, Hiện tại cháu đang công tác tại Phòng Thanh toán quốc tế của Ngân hàng. Cháu có một số câu hỏi muốn nhờ chú giải đáp vì cháu chưa có nhiều kinh nghiệm trong việc thanh toán đối với doanh nghiệp kinh doanh chuyển khẩu hàng hóa. Đây là một công ty Việt Nam kinh … Read More
Chết vẫn còn… Lướt Facebook Mr. Old Man bắt gặp một câu chuyện bằng tiếng Anh đọc mà cười ra nước mắt. Chuyện là một bà cụ qua đời ở tuổi 90, cả đời chưa từng kết hôn. Trước khi qua đời, bà trăn trối với người thân rằng hãy khắc những dòng này lên bia mộ của bà: “Sinh ra nguyên trinh… … Read More
Mr Old Man When the LC Has Expired: Can the 10-Day Presentation Period Save the Beneficiary? Introduction This question illustrates a common misunderstanding: a presentation period stipulated in the LC does not operate independently of the LC expiry date. Even where the stipulated period exte… Read More
Certificate on Beneficiary’s Letterhead but Signed by Freight Forwarder — Discrepancy or No Discrepancy?
Mr Old Man When the LC Has Expired: Can the 10-Day Presentation Period Save the Beneficiary? Introduction This question illustrates a common misunderstanding: a presentation period stipulated in the LC does not operate independently of the LC expiry date. Even where the stipulated period exte… Read More
Certificate on Beneficiary’s Letterhead but Signed by Freight Forwarder — Discrepancy or No Discrepancy?
When the LC Has Expired: Can the 10-Day Presentation Period Save the Beneficiary? Introduction This question illustrates a common misunderstanding: a presentation period stipulated in the LC does not operate independently of the LC expiry date. Even where the stipulated period extends beyond the expiry date, the beneficiary cannot use that period to keep the credit alive after expiry. Question Dear Mr. Old Man, LC expiry date: 1/8/2026 Latest shipment date: 1/8/2026 Field … Read More
Does “Shipped on Board” Satisfy a “Clean Shipped on Board” Requirement? Introduction The wording used in a letter of credit can sometimes appear more demanding than the wording normally used on a transport document. This raises an interesting practical question: when an L/C requires a “clean shipped on board” bill of lading, can a B/L showing only “shipped on board” be accepted? In this case, the shipping line’s policy does not … Read More
Certificate on Beneficiary’s Letterhead but Signed by Freight Forwarder — Discrepancy or No Discrepancy? Introduction A question sometimes arises when a documentary credit requires a certificate to be issued by one of several parties, expressed using slash marks, but the presented certificate appears on the beneficiary’s letterhead while being signed and stamped by a freight forwarder. The question is whether the difference between the letterhead and the signatory constitutes a discrepancy. Question Dear Mr. … Read More
Thà tử tế nhầm Sáng ra, ngồi nhà cà phê, lướt Facebook, Mr. Old Man gặp một cái tút tiếng Anh thiệt hay. Nguyên văn như thế này: “Do not regret being a good person to the wrong people. Your kindness was real even if their intentions were not. Never feel ashamed for having a soft heart in a world full of selfishness. The … Read More
Nếu chứng nhận kết hôn cũng có ngày hết hạn… Mr. Old Man tình cờ thấy một tút hài bằng tiếng Anh trên Facebook, đọc xong thấy cũng… đáng suy nghĩ. Cái tút đó viết: “Nếu chứng nhận kết hôn mà cũng có ngày hết hạn như bằng lái xe, hầu hết mọi người có lẽ sẽ không gia hạn.” Còn bạn thì sao? Có gia hạn không? Hỏi vui … Read More
Alzheimer là… Ai hay quên Mr. Old Man đọc một cái tút hài trên Facebook mà giật mình: Hình như mình cũng bắt đầu có triệu chứng “Ai hay quên” rồi thì phải! Chuyện là thằng cháu hỏi ông nội: — Nội ơi, sao ông nội U70 rồi mà vẫn gọi bà nội là “em yêu” ngọt xớt vậy? Chắc ông có bí mật gì phải không? Ông … Read More
What Would the World Be Like If It Were Ruled by Ladies? Mr. Old Man couldn’t help but burst out laughing when he came across this funny little post in English. It said: “If women ruled the world, there would be no wars. Just a bunch of jealous countries, not talking to each other.” Luckily, the author used the second conditional — a hypothetical situation contrary to the present reality. Mr. Old … Read More
Thế giới trị vì bởi các quý bà sẽ ra sao hè!? Đọc cái tút hài bằng tiếng Anh, Mr. Old Man không khỏi bật cười. Cái tút đó viết: “If women ruled the world, there would be no wars. Just a bunch of jealous countries, not talking to each other.” Hiểu nôm na là: “Nếu phụ nữ trị vì thế giới, thì sẽ chẳng còn chiến tranh. Chỉ còn một đám … Read More
Thanh toán T/T trong kinh doanh chuyển khẩu hàng hóa Question Cháu chào chú ạ, Hiện tại cháu đang công tác tại Phòng Thanh toán quốc tế của Ngân hàng. Cháu có một số câu hỏi muốn nhờ chú giải đáp vì cháu chưa có nhiều kinh nghiệm trong việc thanh toán đối với doanh nghiệp kinh doanh chuyển khẩu hàng hóa. Đây là một công ty Việt Nam kinh … Read More
Chết vẫn còn… Lướt Facebook Mr. Old Man bắt gặp một câu chuyện bằng tiếng Anh đọc mà cười ra nước mắt. Chuyện là một bà cụ qua đời ở tuổi 90, cả đời chưa từng kết hôn. Trước khi qua đời, bà trăn trối với người thân rằng hãy khắc những dòng này lên bia mộ của bà: “Sinh ra nguyên trinh… … Read More
Mr Old Man When the LC Has Expired: Can the 10-Day Presentation Period Save the Beneficiary? Introduction This question illustrates a common misunderstanding: a presentation period stipulated in the LC does not operate independently of the LC expiry date. Even where the stipulated period exte… Read More
Certificate on Beneficiary’s Letterhead but Signed by Freight Forwarder — Discrepancy or No Discrepancy?
Mr Old Man When the LC Has Expired: Can the 10-Day Presentation Period Save the Beneficiary? Introduction This question illustrates a common misunderstanding: a presentation period stipulated in the LC does not operate independently of the LC expiry date. Even where the stipulated period exte… Read More
Certificate on Beneficiary’s Letterhead but Signed by Freight Forwarder — Discrepancy or No Discrepancy?
Mr Old Man When the LC Has Expired: Can the 10-Day Presentation Period Save the Beneficiary? Introduction This question illustrates a common misunderstanding: a presentation period stipulated in the LC does not operate independently of the LC expiry date. Even where the stipulated period exte… Read More
Certificate on Beneficiary’s Letterhead but Signed by Freight Forwarder — Discrepancy or No Discrepancy?
Mr Old Man When the LC Has Expired: Can the 10-Day Presentation Period Save the Beneficiary? Introduction This question illustrates a common misunderstanding: a presentation period stipulated in the LC does not operate independently of the LC expiry date. Even where the stipulated period exte… Read More
Certificate on Beneficiary’s Letterhead but Signed by Freight Forwarder — Discrepancy or No Discrepancy?
When the LC Has Expired: Can the 10-Day Presentation Period Save the Beneficiary? 23 Aug 2026 Introduction This question illustrates a common misunderstanding: a presentation period stipulated in the LC does not operate independently of the LC expiry date. Even where the stipulated period extends beyond the expiry date, the beneficiary cannot use that period to keep the credit alive after expiry. Question Dear Mr. Old Man, LC expiry date: 1/8/2026 Latest shipment date: 1/8/2026 Field …
Does “Shipped on Board” Satisfy a “Clean Shipped on Board” Requirement? 23 Aug 2026 Introduction The wording used in a letter of credit can sometimes appear more demanding than the wording normally used on a transport document. This raises an interesting practical question: when an L/C requires a “clean shipped on board” bill of lading, can a B/L showing only “shipped on board” be accepted? In this case, the shipping line’s policy does not …
Certificate on Beneficiary’s Letterhead but Signed by Freight Forwarder — Discrepancy or No Discrepancy? 23 Aug 2026 Introduction A question sometimes arises when a documentary credit requires a certificate to be issued by one of several parties, expressed using slash marks, but the presented certificate appears on the beneficiary’s letterhead while being signed and stamped by a freight forwarder. The question is whether the difference between the letterhead and the signatory constitutes a discrepancy. Question Dear Mr. …
Thà tử tế nhầm 23 Aug 2026 Sáng ra, ngồi nhà cà phê, lướt Facebook, Mr. Old Man gặp một cái tút tiếng Anh thiệt hay. Nguyên văn như thế này: “Do not regret being a good person to the wrong people. Your kindness was real even if their intentions were not. Never feel ashamed for having a soft heart in a world full of selfishness. The …
Nếu chứng nhận kết hôn cũng có ngày hết hạn… 22 Aug 2026 Mr. Old Man tình cờ thấy một tút hài bằng tiếng Anh trên Facebook, đọc xong thấy cũng… đáng suy nghĩ. Cái tút đó viết: “Nếu chứng nhận kết hôn mà cũng có ngày hết hạn như bằng lái xe, hầu hết mọi người có lẽ sẽ không gia hạn.” Còn bạn thì sao? Có gia hạn không? Hỏi vui …
Alzheimer là… Ai hay quên 21 Aug 2026 Mr. Old Man đọc một cái tút hài trên Facebook mà giật mình: Hình như mình cũng bắt đầu có triệu chứng “Ai hay quên” rồi thì phải! Chuyện là thằng cháu hỏi ông nội: — Nội ơi, sao ông nội U70 rồi mà vẫn gọi bà nội là “em yêu” ngọt xớt vậy? Chắc ông có bí mật gì phải không? Ông …
What Would the World Be Like If It Were Ruled by Ladies? 20 Aug 2026 Mr. Old Man couldn’t help but burst out laughing when he came across this funny little post in English. It said: “If women ruled the world, there would be no wars. Just a bunch of jealous countries, not talking to each other.” Luckily, the author used the second conditional — a hypothetical situation contrary to the present reality. Mr. Old …
Thế giới trị vì bởi các quý bà sẽ ra sao hè!? 20 Aug 2026 Đọc cái tút hài bằng tiếng Anh, Mr. Old Man không khỏi bật cười. Cái tút đó viết: “If women ruled the world, there would be no wars. Just a bunch of jealous countries, not talking to each other.” Hiểu nôm na là: “Nếu phụ nữ trị vì thế giới, thì sẽ chẳng còn chiến tranh. Chỉ còn một đám …
Thanh toán T/T trong kinh doanh chuyển khẩu hàng hóa 18 Aug 2026 Question Cháu chào chú ạ, Hiện tại cháu đang công tác tại Phòng Thanh toán quốc tế của Ngân hàng. Cháu có một số câu hỏi muốn nhờ chú giải đáp vì cháu chưa có nhiều kinh nghiệm trong việc thanh toán đối với doanh nghiệp kinh doanh chuyển khẩu hàng hóa. Đây là một công ty Việt Nam kinh …
Chết vẫn còn… 18 Aug 2026 Lướt Facebook Mr. Old Man bắt gặp một câu chuyện bằng tiếng Anh đọc mà cười ra nước mắt. Chuyện là một bà cụ qua đời ở tuổi 90, cả đời chưa từng kết hôn. Trước khi qua đời, bà trăn trối với người thân rằng hãy khắc những dòng này lên bia mộ của bà: “Sinh ra nguyên trinh… …
Certificate on Beneficiary’s Letterhead but Signed by Freight Forwarder — Discrepancy or No Discrepancy?
Mr Old Man When the LC Has Expired: Can the 10-Day Presentation Period Save the Beneficiary? Introduction This question illustrates a common misunderstanding: a presentation period stipulated in the LC does not operate independently of the LC expiry date. Even where the stipulated period exte… Read More
Certificate on Beneficiary’s Letterhead but Signed by Freight Forwarder — Discrepancy or No Discrepancy?
Mr Old Man When the LC Has Expired: Can the 10-Day Presentation Period Save the Beneficiary? Introduction This question illustrates a common misunderstanding: a presentation period stipulated in the LC does not operate independently of the LC expiry date. Even where the stipulated period exte… Read More
Certificate on Beneficiary’s Letterhead but Signed by Freight Forwarder — Discrepancy or No Discrepancy?
Certificate on Beneficiary’s Letterhead but Signed by Freight Forwarder — Discrepancy or No Discrepancy?
Certificate on Beneficiary’s Letterhead but Signed by Freight Forwarder — Discrepancy or No Discrepancy?