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?
CAN AN LC BE SUBJECT TO THE LOCAL LAW IN ADDITION TO THE UCP? 2 Apr 2015 QUESTION Dear Mr. Old Man, Appreciate your reply to the following: Can LC be subject to the country’s law in addition to UCP? Best regards, Zeev ——- ANSWER Dear Zeev, I must admit that in my 20 years of experience with trade finance I have not yet come across any LC stipulating that it is subject to both the UCP …
WHETHER A PRESENTATION COMPLYING WITH THE ORIGINAL LC BUT NOT TO THE NOT YET ACCEPTED AMENDMENT IS DEEMED TO BE THE BENEFICIARY’S REJECTION OF THE AMENDMENT 23 Mar 2015 QUESTION FROM SHEILAR Hi Abrar and Nguyen, Hope you are well. I’ve recently read the consolidated Draft opinions April 2015, and have found TA820 drafted very ambiguously and its analysis seemed equally questionable (see the attachment please). For example, since the background information indicated that the presentation made after the amendment did not comply the the amended credit, I would …
EARLY PRESENTATION REVISITED 18 Mar 2015 The last slope to the peak of Hai Van Pass QUESTION Dear Mr. Old Man, LC states: Field 48 (Period of Presentation): Documents presented later than 21 days after shipment date but within L/C validity acceptable. Field 31D (Date and Place of Expiry): 150420 IN SINGAPORE Presented bills of lading shows shipment date as 04/03/2015 while the covering schedule shows issuance date as 11/03/2015 …
“LATE PRESENTATION” REVISITED 17 Mar 2015 A corner of my garden QUESTION Dear Mr. Old Man, Your comment on the following issue is appreciated: The documents were presented to the issuing bank which refused the documents stating the discrepancy “Late presentation”. The negotiating bank sent the issuing bank a message confirming that the documents were presented within LC validity. Which bank is correct? Thank you. PT …
NEGOTIATION OF DOCUMENTS PRESENTED UNDER LC AVAILABLE WITH THE ISSUING BANK BY DEFERRED PAYMENT 13 Mar 2015 Riding up to the peak of Hai Van Pass QUESTION Dear Mr. Old Man, The beneficiary presents to our bank the documents under an LC available with the issuing bank by deferred payment and asks us to negotiate the documents. What are the risks if we agree to negotiate? Thank you. Best regards, PMB ————- ANSWER Hi, Where the LC …
WHERE LC REQUIRES PRESENTATION OF COPY HEALTH CERTIFICATE 12 Mar 2015 Map of Vietnam QUESTION Dear Mr. Old Man, Please help us with the following case: LC stated: ONE COPY HEALTH CERTIFICATE ISSUED BY GOVERNMENTAL AUTHORITY STATING: (A) THE FISHMEAL WAS PRODUCED IN A PROCESSING PLANTS DEDICATED ONLY TO FISH MEAL PRODUCTION WHERE NO MATERIAL OF ANIMAL ORIGIN OTHER THAN FISH PROTEIN IS BEING USED. (B) THE FISH MEAL WAS TRANSPORTED IN A …
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?