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 WHAT IS THE IMPACT OF EXCLUSION OF UCP 600 SUB-ARTICLE 12b? QUESTION Dear Mr. Old Man, I hope my email finds you doing well I would ask you if the issuing bank wish to exclude article 12 b by credit what is the impact and scenario in this case. Thanks for your… Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
VIETCOMBANK ĐÀ NẴNG – DẤU ẤN LỊCH SỬ ĐẶC BIỆT 3 Mar 2025 Ngày 01/03/2025, tôi vinh dự là một trong những khách mời của talk show “Giao lưu các thế hệ Vietcombank Đà Nẵng – Một thời & Tiếp nối”, sự kiện nằm trong chuỗi hoạt động do Vietcombank Đà Nẵng tổ chức nhằm hướng tới kỷ niệm 50 năm thành lập (30/4/1975 – 30/4/2025). Trong chương trình, tôi đã chia sẻ …
MR. OLD MAN FIRST CHAT WITH CHAT GPT 2 Mar 2025 MR. OLD MAN LẦN ĐẦU LÀM CHUYỆN ẤY VỚI CHAT GPT Tối nay Mr. Old Man có cuộc trò chuyện bằng tiếng Anh với Chat GPT và vô cùng bất ngờ với phản ứng cực nhanh và chính xác của anh bạn siêu thông thái trong mọi lãnh vực này. Mở đầu câu chuyện Mr. Old Man đề nghị Chat GPT …
MONKEY MOUNTAIN CHALLENGE 2025 UPDATE: MỘT MÌNH MỘT NGỰA 28 Feb 2025 Trong tháng 1/2025 tham gia thách thức Monkey Mountain Challenge 2025 có ít nhất 2 cua rơ, một nam một nữ, bám rất sít sao từng mét leo núi, dường như họ ngầm cạnh tranh nhau. Tuy nhiên, bước sang nửa sau của tháng 2 không biết vì lý do gì mà nam cua rơ tam dừng lại một tuần …
LC STATES TRANSSHIPMENT ALLOWED WHEREAS INSURANCE POLICY SHOWS TRANSSHIPMENT NOT ALLOWED 26 Feb 2025 QUESTION + LC states: Transshipments allowed + Insurance policy presented indicates: Transshipment not allowed The issuing refused the documents citing the discrepancy “Insurance policy indicates “transshipment not allowed”, which conflicts with LC”. The presenting bank rejected the discrepancy arguing: “The LC allows transshipment; however, the shipper uses direct service from Cai Mep Port, Vietnam, to Busan, South Korea, without transshipment. …
COMMENTS ON DRAFT OPINION (TA949) RELATING TO SURRENDERED BILL OF LADING PRESENTED UNDER LC 24 Feb 2025 GÓP Ý DỰ THẢO Ý KIẾN (TA949) LIÊN QUAN ĐẾN SURRENDERED BILL OF LADING XUẤT TRÌNH THEO LC Ngày 17/02/2025 tại Dubai, Ủy ban Ngân hàng ICC (ICC Banking Commission) đã họp để thảo luận Dự thảo Ý kiến TA949 (Draft Opinion TA949) liên quan đến “surrendered bill of lading”¹ (vận đơn đã giao nộp/vận đơn điện giao hàng). Kim …
CAN THE ISSUING BANK REFUSE TO HONOUR THE CONFIRMING BANK IF IT FINDS THAT THE DOCUMENTS PRESENTED CONTAIN DISCREPANCIES? 19 Feb 2025 QUESTION Dear Mr. Old Man, Would appreciate your feedback on the following: Issuing bank issues an LC which is confirmed by the nominated bank. In field 78 issuing bank has stated that payment in favour of the confirming bank will be affected 4 bank working days from the date of the confirming bank’s swift to the issuing bank stating that …
WHAT IS THE IMPACT OF EXCLUSION OF UCP 600 SUB-ARTICLE 12b? QUESTION Dear Mr. Old Man, I hope my email finds you doing well I would ask you if the issuing bank wish to exclude article 12 b by credit what is the impact and scenario in this case. Thanks for your reply in advance Regards Firas —- ANSWER Hi, UCP 600 Sub-article 12(b) states that when an issuing bank nominates … Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS? QUESTION Dear Mr. Old Man, I hope you’re doing well. Could you please help clarify the following questions regarding the LC collection procedure between the beneficiary and the presenting bank? Is the beneficiary required to complete any authorization process with the presenting bank when instructing them to forward documents to the issuing bank for payment or to the nominated bank … Read More
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER? QUESTION Dear Mr. Old Man, We would appreciate your guidance on the following matter: The L/C requires documents to be presented within 15 days after the Bill of Lading date, but the last permitted date for presentation falls on a Sunday. The negotiating bank’s cover letter, which certifies compliance with the L/C terms, is dated on the following Monday. Would … Read More
RETURN OF DOCUMENTS (rev) QUESTION Dear Mr. Old Man, We seek your advice regarding a case involving document discrepancies. As the issuing bank, we have received a set of documents in which all originals of the insurance certificates are not endorsed in blank as required. The applicant has informed us that the beneficiary has agreed to replace these discrepant insurance certificates and has requested … Read More
TRẢI NGHIỆM XE BUS ĐÀ NẴNG-HỘI AN & TIẾNG MỸ BỒI Lần đầu tiên, Mr. Old Man đi xe bus từ Đà Nẵng đến Hội An và ngược lại, mang theo chiếc xe đạp gấp 3 Sixty. Đó một trải nghiệm thú vị và đáng nhớ: Mr. Old Man đạp xe ra trạm xe bus gần nhà và chờ ở đó chừng 20 phút là lên xe bus, suốt hành trình … Read More
UNDERSTANDING SERVICES LETTER OF CREDIT (LC) QUESTION Dear Sir, Could you help me understand the concept of a Services Letter of Credit? I would also appreciate it if you could provide a draft of a Services LC. Looking forward to your assistance. Best regards, Jawad Askari Bank Pakistan —– ANSWER Hi, A Services Letter of Credit (LC) is issued to guarantee payment for services rendered … Read More
CAN A BANK ISSUE AN LC FOR AN AMOUNT LESS THAN THE PROFORMA INVOICE? QUESTION Dear Sir, This is Jawad from Askari Bank, Pakistan. I would like to confirm whether a bank can issue a Letter of Credit (LC) for an amount lower than the proforma invoice amount. For example, if the proforma invoice amount is USD 100, can the applicant request an LC for only USD 45? Additionally, if the applicant later requests … Read More
ĂN THEO BILL GATES KHÔNG DỄ Một năm trước, nhân dịp Bill Gates cùng bạn gái Paula Hurd nghỉ dưỡng ở Đà Nẵng, Mr. Old Man đã viết bài “Ăn theo Bill Gates.” Thời điểm đó, truyền thông Việt Nam rầm rộ đưa tin rằng chuyến đi của vị tỷ phú này sẽ truyền cảm hứng du lịch cho nhiều người và góp phần nâng cao … Read More
A DOCUMENT COVERING MORE THAN ONE FUNCTION MAY BE PRESENTED AS SEPARATE DOCUMENTS QUESTION Dear Mr. Old Man, Please help me with this case: The L/C requires the following document: “Certificate of Antibiotic and Chemical certified by NAFIQAD” We presented two separate documents: Certificate of Antibiotic Certificate of Chemical However, the bank refused the documents, stating that they should have been presented as a single document instead of two separate ones. Please provide … Read More
INVOICE SHOWING FREE OF CHARGE GOODS AND… INVOICE SHOWING FREE OF CHARGE GOODS AND… QUESTION Dear Mr. Old Man, Could you please provide your opinions on the following questions? QUESTION 1 The L/C requires: – Commodity: Pharmaceutical products – Description: Details of quantity and unit price as per Contract No. 123 – Total amount: USD 100,000.00 (+/-10%) The invoice presented shows: – Commodity: Pharmaceutical products – … Read More
Mr Old Man WHAT IS THE IMPACT OF EXCLUSION OF UCP 600 SUB-ARTICLE 12b? QUESTION Dear Mr. Old Man, I hope my email finds you doing well I would ask you if the issuing bank wish to exclude article 12 b by credit what is the impact and scenario in this case. Thanks for your… Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
Mr Old Man WHAT IS THE IMPACT OF EXCLUSION OF UCP 600 SUB-ARTICLE 12b? QUESTION Dear Mr. Old Man, I hope my email finds you doing well I would ask you if the issuing bank wish to exclude article 12 b by credit what is the impact and scenario in this case. Thanks for your… Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
WHAT IS THE IMPACT OF EXCLUSION OF UCP 600 SUB-ARTICLE 12b? QUESTION Dear Mr. Old Man, I hope my email finds you doing well I would ask you if the issuing bank wish to exclude article 12 b by credit what is the impact and scenario in this case. Thanks for your reply in advance Regards Firas —- ANSWER Hi, UCP 600 Sub-article 12(b) states that when an issuing bank nominates … Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS? QUESTION Dear Mr. Old Man, I hope you’re doing well. Could you please help clarify the following questions regarding the LC collection procedure between the beneficiary and the presenting bank? Is the beneficiary required to complete any authorization process with the presenting bank when instructing them to forward documents to the issuing bank for payment or to the nominated bank … Read More
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER? QUESTION Dear Mr. Old Man, We would appreciate your guidance on the following matter: The L/C requires documents to be presented within 15 days after the Bill of Lading date, but the last permitted date for presentation falls on a Sunday. The negotiating bank’s cover letter, which certifies compliance with the L/C terms, is dated on the following Monday. Would … Read More
RETURN OF DOCUMENTS (rev) QUESTION Dear Mr. Old Man, We seek your advice regarding a case involving document discrepancies. As the issuing bank, we have received a set of documents in which all originals of the insurance certificates are not endorsed in blank as required. The applicant has informed us that the beneficiary has agreed to replace these discrepant insurance certificates and has requested … Read More
TRẢI NGHIỆM XE BUS ĐÀ NẴNG-HỘI AN & TIẾNG MỸ BỒI Lần đầu tiên, Mr. Old Man đi xe bus từ Đà Nẵng đến Hội An và ngược lại, mang theo chiếc xe đạp gấp 3 Sixty. Đó một trải nghiệm thú vị và đáng nhớ: Mr. Old Man đạp xe ra trạm xe bus gần nhà và chờ ở đó chừng 20 phút là lên xe bus, suốt hành trình … Read More
UNDERSTANDING SERVICES LETTER OF CREDIT (LC) QUESTION Dear Sir, Could you help me understand the concept of a Services Letter of Credit? I would also appreciate it if you could provide a draft of a Services LC. Looking forward to your assistance. Best regards, Jawad Askari Bank Pakistan —– ANSWER Hi, A Services Letter of Credit (LC) is issued to guarantee payment for services rendered … Read More
CAN A BANK ISSUE AN LC FOR AN AMOUNT LESS THAN THE PROFORMA INVOICE? QUESTION Dear Sir, This is Jawad from Askari Bank, Pakistan. I would like to confirm whether a bank can issue a Letter of Credit (LC) for an amount lower than the proforma invoice amount. For example, if the proforma invoice amount is USD 100, can the applicant request an LC for only USD 45? Additionally, if the applicant later requests … Read More
ĂN THEO BILL GATES KHÔNG DỄ Một năm trước, nhân dịp Bill Gates cùng bạn gái Paula Hurd nghỉ dưỡng ở Đà Nẵng, Mr. Old Man đã viết bài “Ăn theo Bill Gates.” Thời điểm đó, truyền thông Việt Nam rầm rộ đưa tin rằng chuyến đi của vị tỷ phú này sẽ truyền cảm hứng du lịch cho nhiều người và góp phần nâng cao … Read More
A DOCUMENT COVERING MORE THAN ONE FUNCTION MAY BE PRESENTED AS SEPARATE DOCUMENTS QUESTION Dear Mr. Old Man, Please help me with this case: The L/C requires the following document: “Certificate of Antibiotic and Chemical certified by NAFIQAD” We presented two separate documents: Certificate of Antibiotic Certificate of Chemical However, the bank refused the documents, stating that they should have been presented as a single document instead of two separate ones. Please provide … Read More
INVOICE SHOWING FREE OF CHARGE GOODS AND… INVOICE SHOWING FREE OF CHARGE GOODS AND… QUESTION Dear Mr. Old Man, Could you please provide your opinions on the following questions? QUESTION 1 The L/C requires: – Commodity: Pharmaceutical products – Description: Details of quantity and unit price as per Contract No. 123 – Total amount: USD 100,000.00 (+/-10%) The invoice presented shows: – Commodity: Pharmaceutical products – … Read More
Mr Old Man WHAT IS THE IMPACT OF EXCLUSION OF UCP 600 SUB-ARTICLE 12b? QUESTION Dear Mr. Old Man, I hope my email finds you doing well I would ask you if the issuing bank wish to exclude article 12 b by credit what is the impact and scenario in this case. Thanks for your… Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
Mr Old Man WHAT IS THE IMPACT OF EXCLUSION OF UCP 600 SUB-ARTICLE 12b? QUESTION Dear Mr. Old Man, I hope my email finds you doing well I would ask you if the issuing bank wish to exclude article 12 b by credit what is the impact and scenario in this case. Thanks for your… Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
Mr Old Man WHAT IS THE IMPACT OF EXCLUSION OF UCP 600 SUB-ARTICLE 12b? QUESTION Dear Mr. Old Man, I hope my email finds you doing well I would ask you if the issuing bank wish to exclude article 12 b by credit what is the impact and scenario in this case. Thanks for your… Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
Mr Old Man WHAT IS THE IMPACT OF EXCLUSION OF UCP 600 SUB-ARTICLE 12b? QUESTION Dear Mr. Old Man, I hope my email finds you doing well I would ask you if the issuing bank wish to exclude article 12 b by credit what is the impact and scenario in this case. Thanks for your… Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
WHAT IS THE IMPACT OF EXCLUSION OF UCP 600 SUB-ARTICLE 12b? 17 Mar 2025 QUESTION Dear Mr. Old Man, I hope my email finds you doing well I would ask you if the issuing bank wish to exclude article 12 b by credit what is the impact and scenario in this case. Thanks for your reply in advance Regards Firas —- ANSWER Hi, UCP 600 Sub-article 12(b) states that when an issuing bank nominates …
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS? 16 Mar 2025 QUESTION Dear Mr. Old Man, I hope you’re doing well. Could you please help clarify the following questions regarding the LC collection procedure between the beneficiary and the presenting bank? Is the beneficiary required to complete any authorization process with the presenting bank when instructing them to forward documents to the issuing bank for payment or to the nominated bank …
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER? 16 Mar 2025 QUESTION Dear Mr. Old Man, We would appreciate your guidance on the following matter: The L/C requires documents to be presented within 15 days after the Bill of Lading date, but the last permitted date for presentation falls on a Sunday. The negotiating bank’s cover letter, which certifies compliance with the L/C terms, is dated on the following Monday. Would …
RETURN OF DOCUMENTS (rev) 15 Mar 2025 QUESTION Dear Mr. Old Man, We seek your advice regarding a case involving document discrepancies. As the issuing bank, we have received a set of documents in which all originals of the insurance certificates are not endorsed in blank as required. The applicant has informed us that the beneficiary has agreed to replace these discrepant insurance certificates and has requested …
TRẢI NGHIỆM XE BUS ĐÀ NẴNG-HỘI AN & TIẾNG MỸ BỒI 13 Mar 2025 Lần đầu tiên, Mr. Old Man đi xe bus từ Đà Nẵng đến Hội An và ngược lại, mang theo chiếc xe đạp gấp 3 Sixty. Đó một trải nghiệm thú vị và đáng nhớ: Mr. Old Man đạp xe ra trạm xe bus gần nhà và chờ ở đó chừng 20 phút là lên xe bus, suốt hành trình …
UNDERSTANDING SERVICES LETTER OF CREDIT (LC) 12 Mar 2025 QUESTION Dear Sir, Could you help me understand the concept of a Services Letter of Credit? I would also appreciate it if you could provide a draft of a Services LC. Looking forward to your assistance. Best regards, Jawad Askari Bank Pakistan —– ANSWER Hi, A Services Letter of Credit (LC) is issued to guarantee payment for services rendered …
CAN A BANK ISSUE AN LC FOR AN AMOUNT LESS THAN THE PROFORMA INVOICE? 10 Mar 2025 QUESTION Dear Sir, This is Jawad from Askari Bank, Pakistan. I would like to confirm whether a bank can issue a Letter of Credit (LC) for an amount lower than the proforma invoice amount. For example, if the proforma invoice amount is USD 100, can the applicant request an LC for only USD 45? Additionally, if the applicant later requests …
ĂN THEO BILL GATES KHÔNG DỄ 10 Mar 2025 Một năm trước, nhân dịp Bill Gates cùng bạn gái Paula Hurd nghỉ dưỡng ở Đà Nẵng, Mr. Old Man đã viết bài “Ăn theo Bill Gates.” Thời điểm đó, truyền thông Việt Nam rầm rộ đưa tin rằng chuyến đi của vị tỷ phú này sẽ truyền cảm hứng du lịch cho nhiều người và góp phần nâng cao …
A DOCUMENT COVERING MORE THAN ONE FUNCTION MAY BE PRESENTED AS SEPARATE DOCUMENTS 9 Mar 2025 QUESTION Dear Mr. Old Man, Please help me with this case: The L/C requires the following document: “Certificate of Antibiotic and Chemical certified by NAFIQAD” We presented two separate documents: Certificate of Antibiotic Certificate of Chemical However, the bank refused the documents, stating that they should have been presented as a single document instead of two separate ones. Please provide …
INVOICE SHOWING FREE OF CHARGE GOODS AND… 8 Mar 2025 INVOICE SHOWING FREE OF CHARGE GOODS AND… QUESTION Dear Mr. Old Man, Could you please provide your opinions on the following questions? QUESTION 1 The L/C requires: – Commodity: Pharmaceutical products – Description: Details of quantity and unit price as per Contract No. 123 – Total amount: USD 100,000.00 (+/-10%) The invoice presented shows: – Commodity: Pharmaceutical products – …
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
Mr Old Man WHAT IS THE IMPACT OF EXCLUSION OF UCP 600 SUB-ARTICLE 12b? QUESTION Dear Mr. Old Man, I hope my email finds you doing well I would ask you if the issuing bank wish to exclude article 12 b by credit what is the impact and scenario in this case. Thanks for your… Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
Mr Old Man WHAT IS THE IMPACT OF EXCLUSION OF UCP 600 SUB-ARTICLE 12b? QUESTION Dear Mr. Old Man, I hope my email finds you doing well I would ask you if the issuing bank wish to exclude article 12 b by credit what is the impact and scenario in this case. Thanks for your… Read More
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
CAN THE ISUING BANK CITE “LATE PRESENTATION” AS A DISCREPANCY SOLELY BASED ON THE DATE OF THE COVER LETTER?