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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…
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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…
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WHETHER A CONFIRMING BANK IS A NOMINATED BANK AND…

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WHETHER DOCUMENTS CAN BE PRESENTED DIRECTLY TO THE ISSUING BANK

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Mr Old Man Q&A

WHERE A MMTD CANNOT BE ISSUED IN NEGOTIABLE FORM

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Mr Old Man Q&A

CLAIMS PAYABLE, SETTLING AGENT, FRANCHISE, EXCESS (DEDUCTIBLE)

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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…
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STAMP IN A LANGUAGE OTHER THAN THAT REQUIRED IN THE CREDIT

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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…
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…
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…
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…
Q&A

DP COLLECTION

QUESTION Sir, I want to know, if the documents on DP term are sent with clear instruction …

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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…

UCP 600 ARTICLES 30 AND 31

WHETHER MT999 IS AN AUTHENTICATED SWIFT MESSAGE

TO ORDER BILL OF LADING AND ENDORSEMENT

LC CONFIRMED BY THE FIRST ADVISING BANK

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PARTIAL SHIPMENTS UNDER SUB-ARTICLE 31 (B)

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UCP 600 ARTICLES 30 AND 31

Mr Old Man

WHETHER MT999 IS AN AUTHENTICATED SWIFT MESSAGE

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NAM Ô LÊN PHIM GẦN 130 NĂM TRƯỚC!

Các bạn dân Nam Ô có tin rằng mình được nhìn thấy ông bà mình từ 130 năm trước không? Không phải chuyện tâm linh, mà là người thật 100%! Chuyện là, sau khi anh em nhà Lumière, Auguste và Louis, giới t…

TIẾC CHO HỘI AN

MR. OLD MAN DỰ THẢO TRƯỚC PHÁT BIỂU CỦA HARRY KANE TRẬT CÙ CHÌA MẤT RỒI!

TRỞ LẠI RÚ CẤM NAM Ô: CHUYỆN MIẾU BÀ LIỄU HẠNH VÀ HUYỀN TRÂN CÔNG CHÚA

CLIP 1️⃣: THƯ TÍN DỤNG CÓ THỂ HUỶ NGANG HAY KHÔNG?

Insurance Cover Exceeding the LC Requirement – Is ICC (A) Acceptable When the Credit Requires Marine Risks or ICC (C)?

17 Jul 2026

Introduction Under UCP 600, banks examine whether the documents presented comply with the terms and conditions of the letter of credit. A common question is whether an insurance document is acceptable when it provides broader insurance coverage than that stipulated in the credit. In this Q&A, Mr. Old Man explains why an insurance document evidencing Institute Cargo Clauses (A) (ICC …

Increasing an LC Amount – Is a Revised Proforma Invoice Required?

17 Jul 2026

Introduction When an applicant requests an amendment to increase the value of a documentary credit, banks often require supporting commercial documents to justify the amendment. But what if the beneficiary refuses to issue a revised proforma invoice or to indicate that the invoice has been revised? Is the issuing bank still able to process the amendment? The following Q&A discusses …

Can a Transferred Letter of Credit Have a Shorter Usance Period Than the Original Credit?

17 Jul 2026

A transferable letter of credit allows the first beneficiary to transfer all or part of its rights under the credit to a second beneficiary. While UCP 600 permits certain terms of the transferred credit to be reduced or curtailed, not every provision may be changed. In this Q&A, a reader asks whether the deferred payment period in a transferred credit …

Thought Only Mr. Old Man Was Superstitious… Turns Out Argentina Is Even More So!

16 Jul 2026

Before the blockbuster clash with England, Argentina reportedly asked FIFA for permission to wear their dark blue away kit instead of the traditional sky-blue-and-white stripes originally scheduled for the match. And FIFA said yes. That little “good luck charm” probably wasn’t a coincidence. It brought back memories of the 1986 World Cup quarter-final—also against England. On that famous day, Argentina …

Tưởng mỗi Mr. Old Man mê tín… Ai dè Argentina còn “dị đoan” hơn!

16 Jul 2026

Trước trận quyết đấu với Anh, Argentina đã nài nỉ FIFA cho mặc áo xanh sân khách thay vì áo sọc trắng-xanh truyền thống như lịch công bố ban đầu. Và FIFA cũng gật đầu đồng ý. Chiêu “cầu may” này chắc không phải ngẫu nhiên. Nó gợi nhớ đến trận tứ kết World Cup 1986 với chính tuyển Anh. …

Does a Struck-Out Endorsement on a Bill of Lading Require Authentication?

15 Jul 2026

A bill of lading issued “to order” is commonly endorsed by the shipper after issuance to transfer title to the goods. But what happens if an endorsement is mistakenly made by the wrong party, then crossed out and replaced by the correct endorsement? Does such a change constitute a correction to the bill of lading requiring authentication under ISBP 821 …

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