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
How Should Issuance Commission Be Calculated for a Revolving LC with Declining Exposure? Intro: A practitioner raised a practical question regarding the appropriate method for computing issuance commission on a cumulative revolving LC, especially when the bank’s exposure changes over time… Read More
CONDUCT RULES FOR BLOGS 7 Mar 2010 Blog đã trở thành sân chơi đa màu sắc của nhiều người, đặc biệt là giới trẻ. Bên cạnh những blog nghiêm túc vẫn có nhiều blog gây phản cảm cho người đọc. Có nhiều ý kiến cho rằng cần xây dựng một quy tắc ứng xử trên blog nhằm hạn chế những blog đó. Người viết bài này cũng …
CONFIRMING BANK'S LIABILTY TOWARD DISCREPANT DOCUMENTS 7 Mar 2010 NEW CASE STUDY FROM Mohammed al-kelani Dear colleagues in trying to present the most important cases that might face any of us during handling an L/C kindly give some minutes of your time to think about the following; an L/C is issued available with a nominated bank by sight payment requesting the nominated bank to(ADVISE/CONFIRM) the L/C besides being the …
AVAILABILTY 7 Mar 2010 GHUBSHAWI'S QUERY Dear All, Can the L/C be available with the confirming bank, in case the nominated bank is other than the confirming bank? If no, what is the point for the confirming bank to add it's confirmation for an instruement not available with him? Please help with your comments. Best, Ghubshawi ———————————– COMMENT Based on Art. 6 (a) which …
CLEAN ON BOARD 7 Mar 2010 QUERY FROM PAN Art 27 UCP CLEAN -This is the word Hi friends, I attended an educational on UCP 600-after one year experience and I really wondered when the speaker stated:"If a Bill of lading is requested in a doc. credit "MARKED CLEAN", the word "CLEAN" must appear on that document. I read UCP and Commentary 601 and I confirm …
CARGO RECEIPT 7 Mar 2010 QUERY FROM TRAN TUAN ANHSubject: cargo receipt Hi Mr Old Man ! Tôi muốn Mr giải thích hộ vấn đề sau : Đây là tình huống phát sinh ở ngân hàng của tôi. Trong LC quy định điều kiện giao hàng là DAF Hữu Nghị,Lạng sơn, Incoterms 2000. Ngân hàng phát hành yêu cầu Cargo receipt được lập thành 3 …
CAN THE ISSUING BANK REFUSE TO ISSUE AMENDMENTS? 7 Mar 2010 Shaik Mohammad's queryCan issuing bank rejects to issue an Amendment Hi DLC Experts need your help. Bene wanted to extend the LC expirty to one year. Bene asked applicant to issue an amendment for this. Applicant approaches issuing bank to issue an amendment, but issuing bank rejects to issue an amendment. Can issuing bank behave like this???? Can issuing bank …
How Should Issuance Commission Be Calculated for a Revolving LC with Declining Exposure? Intro: A practitioner raised a practical question regarding the appropriate method for computing issuance commission on a cumulative revolving LC, especially when the bank’s exposure changes over time. Below is the refined question and Mr. Old Man’s response. Question Dear Mr. Old Man, I would appreciate your guidance on the following: We have a cumulative revolving LC issued for USD … Read More
Can the Drawee’s Bank Cancel Its Aval after Confirming it by SWIFT? A Q&A with Mr. Old Man When dealing with documentary collections, many bankers assume that an aval—once issued—is as solid as steel. But what happens when an avaling bank suddenly cancels its commitment, cites problems with the underlying goods, and even goes to court? In this Q&A, Mr. Old Man breaks down how avalization really works, which rules govern it, … Read More
Is a Deduction Allowed on the Invoice When the LC Does Not Call for It? Introduction In trade finance practice, many beneficiaries issue invoices showing deductions — such as discounts, credit notes, or advance payment adjustments — even when the LC does not expressly authorise such deductions. This often raises the question: Is the presentation still acceptable under the LC? Below is today’s question from Rohini. QUESTION Dear Mr. Old Man, The LC does not … Read More
Các ngân hàng thu phí quản lý tài khoản có đúng không? Biết Mr. Old Man từng làm ngân hàng, một anh bạn quen nhắn tin hỏi: “Mr. Old Man ơi, nghe nói ngân hàng thu phí tài khoản có số dư dưới 500.000/tháng là đúng hả?” “Báo đăng rồi thì đúng đó em,” Mr. Old Man đáp gọn. Hóa ra ảnh từng làm nhiều công ty, mỗi nơi trả lương qua … Read More
Can an Invoice on a CIF LC Show Freight and Insurance Separately? In today’s question, Muna raises an interesting point about price breakdowns in invoices under a CIF letter of credit. When the LC only states the total amount of freight and insurance, can the beneficiary still split these costs into separate lines on the invoice? Let’s take a look. Question Dear Mr. Old Man, If the LC uses Incoterms CIF with … Read More
Why Is Field 46A Optional? A light Q&A with Mr. Old Man on LC quirks Question Dear Mr. Old Man, I would like to draw your attention to Field 46A (Documents Required). I see that this field always contains the description of documents to be presented under the LC. I wonder why the status of this field is O (Optional) and not M (Mandatory). Please … Read More
WWW.MROLDMAN.NET – NIỀM VUI CỦA NGƯỜI ĐÃ RỜI TRẬN CHIẾN Năm 2013, từ nền tảng blog WordPress, Mr. Old Man lập nên website www.mroldman.net với slogan quen thuộc: For Those Who Eat, Sleep and Breathe Letters of Credit – dành cho những ai thật sự “ăn, ngủ và thở” cùng thư tín dụng. Mười hai năm qua, Mr. Old Man đã chia sẻ 1.853 bài viết – chủ yếu là các Q&A … Read More
Logo Đà Nẵng có nhất thiết mang biểu tượng Chùa Cầu!? Sáng hôm qua, Mr. Old Man đăng bài “Chuyện cái logo mới cho Đà Nẵng”, khoe cái logo tự đặt ChatGPT thiết kế: hai chữ DA NANG mạnh mẽ, kèm hình con rồng vàng cách điệu tượng trưng cho sức sống, trí tuệ và khát vọng vươn ra thế giới. Thông điệp muốn gửi gắm là hình ảnh một Đà … Read More
Chuyện cái logo mới cho Đà Nẵng Mấy bữa nay Facebook rôm rả hẳn lên vì chuyện Đà Nẵng mở cuộc thi chọn logo biểu tượng thành phố. Năm cái logo lọt vào “short list” được đưa ra cho bá quan văn võ bình phẩm, ai thích thì like, ai không thích thì… biên tút như Mr. Old Man nè. Lướt một vòng, Mr. Old Man thấy … Read More
**Which Documents Are “Shipping Documents”? And Can an Invoice Show Breakdown of CIF/CFR Costs?** Mr. Old Man Trade Finance Corner Sometimes, a simple LC clause can lead to surprising confusion. Terms like “within 15 days from issuance of shipping documents” or “invoice showing CIF/CFR breakdown” look harmless—but they often trigger misunderstandings on what counts as shipping documents and how much flexibility an invoice really has. Below is today’s question from Priya, and my detailed … Read More
How Should Issuance Commission Be Calculated for a Revolving LC with Declining Exposure? Intro: A practitioner raised a practical question regarding the appropriate method for computing issuance commission on a cumulative revolving LC, especially when the bank’s exposure changes over time… Read More
How Should Issuance Commission Be Calculated for a Revolving LC with Declining Exposure? Intro: A practitioner raised a practical question regarding the appropriate method for computing issuance commission on a cumulative revolving LC, especially when the bank’s exposure changes over time… Read More
How Should Issuance Commission Be Calculated for a Revolving LC with Declining Exposure? Intro: A practitioner raised a practical question regarding the appropriate method for computing issuance commission on a cumulative revolving LC, especially when the bank’s exposure changes over time. Below is the refined question and Mr. Old Man’s response. Question Dear Mr. Old Man, I would appreciate your guidance on the following: We have a cumulative revolving LC issued for USD … Read More
Can the Drawee’s Bank Cancel Its Aval after Confirming it by SWIFT? A Q&A with Mr. Old Man When dealing with documentary collections, many bankers assume that an aval—once issued—is as solid as steel. But what happens when an avaling bank suddenly cancels its commitment, cites problems with the underlying goods, and even goes to court? In this Q&A, Mr. Old Man breaks down how avalization really works, which rules govern it, … Read More
Is a Deduction Allowed on the Invoice When the LC Does Not Call for It? Introduction In trade finance practice, many beneficiaries issue invoices showing deductions — such as discounts, credit notes, or advance payment adjustments — even when the LC does not expressly authorise such deductions. This often raises the question: Is the presentation still acceptable under the LC? Below is today’s question from Rohini. QUESTION Dear Mr. Old Man, The LC does not … Read More
Các ngân hàng thu phí quản lý tài khoản có đúng không? Biết Mr. Old Man từng làm ngân hàng, một anh bạn quen nhắn tin hỏi: “Mr. Old Man ơi, nghe nói ngân hàng thu phí tài khoản có số dư dưới 500.000/tháng là đúng hả?” “Báo đăng rồi thì đúng đó em,” Mr. Old Man đáp gọn. Hóa ra ảnh từng làm nhiều công ty, mỗi nơi trả lương qua … Read More
Can an Invoice on a CIF LC Show Freight and Insurance Separately? In today’s question, Muna raises an interesting point about price breakdowns in invoices under a CIF letter of credit. When the LC only states the total amount of freight and insurance, can the beneficiary still split these costs into separate lines on the invoice? Let’s take a look. Question Dear Mr. Old Man, If the LC uses Incoterms CIF with … Read More
Why Is Field 46A Optional? A light Q&A with Mr. Old Man on LC quirks Question Dear Mr. Old Man, I would like to draw your attention to Field 46A (Documents Required). I see that this field always contains the description of documents to be presented under the LC. I wonder why the status of this field is O (Optional) and not M (Mandatory). Please … Read More
WWW.MROLDMAN.NET – NIỀM VUI CỦA NGƯỜI ĐÃ RỜI TRẬN CHIẾN Năm 2013, từ nền tảng blog WordPress, Mr. Old Man lập nên website www.mroldman.net với slogan quen thuộc: For Those Who Eat, Sleep and Breathe Letters of Credit – dành cho những ai thật sự “ăn, ngủ và thở” cùng thư tín dụng. Mười hai năm qua, Mr. Old Man đã chia sẻ 1.853 bài viết – chủ yếu là các Q&A … Read More
Logo Đà Nẵng có nhất thiết mang biểu tượng Chùa Cầu!? Sáng hôm qua, Mr. Old Man đăng bài “Chuyện cái logo mới cho Đà Nẵng”, khoe cái logo tự đặt ChatGPT thiết kế: hai chữ DA NANG mạnh mẽ, kèm hình con rồng vàng cách điệu tượng trưng cho sức sống, trí tuệ và khát vọng vươn ra thế giới. Thông điệp muốn gửi gắm là hình ảnh một Đà … Read More
Chuyện cái logo mới cho Đà Nẵng Mấy bữa nay Facebook rôm rả hẳn lên vì chuyện Đà Nẵng mở cuộc thi chọn logo biểu tượng thành phố. Năm cái logo lọt vào “short list” được đưa ra cho bá quan văn võ bình phẩm, ai thích thì like, ai không thích thì… biên tút như Mr. Old Man nè. Lướt một vòng, Mr. Old Man thấy … Read More
**Which Documents Are “Shipping Documents”? And Can an Invoice Show Breakdown of CIF/CFR Costs?** Mr. Old Man Trade Finance Corner Sometimes, a simple LC clause can lead to surprising confusion. Terms like “within 15 days from issuance of shipping documents” or “invoice showing CIF/CFR breakdown” look harmless—but they often trigger misunderstandings on what counts as shipping documents and how much flexibility an invoice really has. Below is today’s question from Priya, and my detailed … Read More
Mr Old Man How Should Issuance Commission Be Calculated for a Revolving LC with Declining Exposure? Intro: A practitioner raised a practical question regarding the appropriate method for computing issuance commission on a cumulative revolving LC, especially when the bank’s exposure changes over time… Read More
Mr Old Man How Should Issuance Commission Be Calculated for a Revolving LC with Declining Exposure? Intro: A practitioner raised a practical question regarding the appropriate method for computing issuance commission on a cumulative revolving LC, especially when the bank’s exposure changes over time… Read More
Mr Old Man How Should Issuance Commission Be Calculated for a Revolving LC with Declining Exposure? Intro: A practitioner raised a practical question regarding the appropriate method for computing issuance commission on a cumulative revolving LC, especially when the bank’s exposure changes over time… Read More
Mr Old Man How Should Issuance Commission Be Calculated for a Revolving LC with Declining Exposure? Intro: A practitioner raised a practical question regarding the appropriate method for computing issuance commission on a cumulative revolving LC, especially when the bank’s exposure changes over time… Read More
How Should Issuance Commission Be Calculated for a Revolving LC with Declining Exposure? 5 Dec 2025 Intro: A practitioner raised a practical question regarding the appropriate method for computing issuance commission on a cumulative revolving LC, especially when the bank’s exposure changes over time. Below is the refined question and Mr. Old Man’s response. Question Dear Mr. Old Man, I would appreciate your guidance on the following: We have a cumulative revolving LC issued for USD …
Can the Drawee’s Bank Cancel Its Aval after Confirming it by SWIFT? 5 Dec 2025 A Q&A with Mr. Old Man When dealing with documentary collections, many bankers assume that an aval—once issued—is as solid as steel. But what happens when an avaling bank suddenly cancels its commitment, cites problems with the underlying goods, and even goes to court? In this Q&A, Mr. Old Man breaks down how avalization really works, which rules govern it, …
Is a Deduction Allowed on the Invoice When the LC Does Not Call for It? 5 Dec 2025 Introduction In trade finance practice, many beneficiaries issue invoices showing deductions — such as discounts, credit notes, or advance payment adjustments — even when the LC does not expressly authorise such deductions. This often raises the question: Is the presentation still acceptable under the LC? Below is today’s question from Rohini. QUESTION Dear Mr. Old Man, The LC does not …
Các ngân hàng thu phí quản lý tài khoản có đúng không? 4 Dec 2025 Biết Mr. Old Man từng làm ngân hàng, một anh bạn quen nhắn tin hỏi: “Mr. Old Man ơi, nghe nói ngân hàng thu phí tài khoản có số dư dưới 500.000/tháng là đúng hả?” “Báo đăng rồi thì đúng đó em,” Mr. Old Man đáp gọn. Hóa ra ảnh từng làm nhiều công ty, mỗi nơi trả lương qua …
Can an Invoice on a CIF LC Show Freight and Insurance Separately? 3 Dec 2025 In today’s question, Muna raises an interesting point about price breakdowns in invoices under a CIF letter of credit. When the LC only states the total amount of freight and insurance, can the beneficiary still split these costs into separate lines on the invoice? Let’s take a look. Question Dear Mr. Old Man, If the LC uses Incoterms CIF with …
Why Is Field 46A Optional? 3 Dec 2025 A light Q&A with Mr. Old Man on LC quirks Question Dear Mr. Old Man, I would like to draw your attention to Field 46A (Documents Required). I see that this field always contains the description of documents to be presented under the LC. I wonder why the status of this field is O (Optional) and not M (Mandatory). Please …
WWW.MROLDMAN.NET – NIỀM VUI CỦA NGƯỜI ĐÃ RỜI TRẬN CHIẾN 2 Dec 2025 Năm 2013, từ nền tảng blog WordPress, Mr. Old Man lập nên website www.mroldman.net với slogan quen thuộc: For Those Who Eat, Sleep and Breathe Letters of Credit – dành cho những ai thật sự “ăn, ngủ và thở” cùng thư tín dụng. Mười hai năm qua, Mr. Old Man đã chia sẻ 1.853 bài viết – chủ yếu là các Q&A …
Logo Đà Nẵng có nhất thiết mang biểu tượng Chùa Cầu!? 1 Dec 2025 Sáng hôm qua, Mr. Old Man đăng bài “Chuyện cái logo mới cho Đà Nẵng”, khoe cái logo tự đặt ChatGPT thiết kế: hai chữ DA NANG mạnh mẽ, kèm hình con rồng vàng cách điệu tượng trưng cho sức sống, trí tuệ và khát vọng vươn ra thế giới. Thông điệp muốn gửi gắm là hình ảnh một Đà …
Chuyện cái logo mới cho Đà Nẵng 1 Dec 2025 Mấy bữa nay Facebook rôm rả hẳn lên vì chuyện Đà Nẵng mở cuộc thi chọn logo biểu tượng thành phố. Năm cái logo lọt vào “short list” được đưa ra cho bá quan văn võ bình phẩm, ai thích thì like, ai không thích thì… biên tút như Mr. Old Man nè. Lướt một vòng, Mr. Old Man thấy …
**Which Documents Are “Shipping Documents”? And Can an Invoice Show Breakdown of CIF/CFR Costs?** 30 Nov 2025 Mr. Old Man Trade Finance Corner Sometimes, a simple LC clause can lead to surprising confusion. Terms like “within 15 days from issuance of shipping documents” or “invoice showing CIF/CFR breakdown” look harmless—but they often trigger misunderstandings on what counts as shipping documents and how much flexibility an invoice really has. Below is today’s question from Priya, and my detailed …
Mr Old Man How Should Issuance Commission Be Calculated for a Revolving LC with Declining Exposure? Intro: A practitioner raised a practical question regarding the appropriate method for computing issuance commission on a cumulative revolving LC, especially when the bank’s exposure changes over time… Read More
Mr Old Man How Should Issuance Commission Be Calculated for a Revolving LC with Declining Exposure? Intro: A practitioner raised a practical question regarding the appropriate method for computing issuance commission on a cumulative revolving LC, especially when the bank’s exposure changes over time… Read More