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?
ADDITIONAL DISCREPANCIES 17 Feb 2015 Da Nang Beach, Vietnam QUESTION Dear Mr. Old Man, Thanks a lot for valuable views and comment. I asked you about correction and representation of documents, but now I have faced with a new situation that requires your opinion. The situation is as follows: We, the issuing bank, checked the documents and found a discrepancy on the invoice. We gave …
DISCOUNT OF EXPORT DOCUMENTS PRIOR TO ISSUING BANK’S ACCEPTANCE 29 Jan 2015 (Q&A quoted from DCPro UCP 600 Discussion Forum 23 – 27 Jan 2015) QUESTION Bank A issues a usance L/C (say 90 days after B/L date) available by negotiation/acceptance with any bank with draft drawn on the issuing bank (reimbursement to be effected by the issuing bank at maturity against a complying presentation). The L/C does not ask for confirmation …
WHERE THE NOMINATED BANK DELAYS IN FORWARDING THE DOCUMENTS TO THE ISSUING BANK 27 Jan 2015 QUESTION Is the issuing bank bound to honor in such case where the negotiating bank states in the covering schedule that the documents are complying which they forward to issuing bank 10 days after 5 banking days ? ——— ANSWER Hi, There are no articles in UCP 600 dealing with the time period within which the nominated bank must forward …
LATE PRESENTATION OR NOT? 20 Jan 2015 QUESTION Dear Mr. Old Man, A deferred payment LC stipulates as follows: F31D (Date and Place of Expiry): 150105 GERMANY F48 (Period for Presentation): WITHIN 21 DAYS FROM BILL OF LADING DATE The documents presented by the nominated bank in Germany shows the covering schedule date as 05 January, 2015 and the bill of lading date as 10 December, 2014. …
DOCUMENTS DELIVERED ON A BANK HOLIDAY 19 Jan 2015 Hoi An Ancient Town QUESTION Dear Mr. Old Man, We have a real case that needs your urgent help. Our bank closed for 2015 New Year’s Holiday from Thursday 1 January to Sunday 4 January, 2015. On Friday, 2 January, 2015 DHL delivered one set of documents to our bank and a security guard signed the receipt of the …
LATE DELIVERY PENALTY CLAUSE 17 Jan 2015 A corner of Hoi An Ancient Town Market QUESTION Dear Mr. Old Man, We need your comment on the following case: A credit issued by our bank states in Field 47A as follows: “Late shipment is acceptable but subject to a penalty of 2.5% for every 7 days (odd days less than seven days is considered as seven days). The …
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?