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 Endorsement Requirements for Drafts payable to the Beneficiary QUESTION Hello Mr Old Man, I hope you are well! I have a question regarding endorsement. LC is available by negotiation, we are the exporting bank, drawee is the issuing bank and the draft is been pre… Read More
HOW TO BUILD A CONSISTENT MORNING CYCLING HABIT 9 Jun 2025 By Mr. Old Man Most people work 8 hours a day or more and have very limited free time for cycling—unless they make use of the early mornings before work. To build a consistent morning cycling habit and hit a target of 40–50 km, you’ll likely need to wake up at 4:00 AM and be ready to roll by 4:30. …
Back – to – Back LCs and CAD: Clearing the fog for Traders 8 Jun 2025 QUESTION Dear Mr. Old Man, I hope you are doing well. I seek your insights on two points: Regarding back-to-back Letters of Credit, I’ve understood that banks typically require collateral beyond the master LC itself, as it might not be a sufficient guarantee. However, reputable banks like UOB, DBS, and BCP Bank (Mauritius) state on their websites that the master LC can indeed …
Escaping Tet in Tay Giang 7 Jun 2025 — A Slow Ride Through the Mountains, the Cold, and the Unexpected Warmth of Strangers — Rolling into an Empty Town After eight grueling hours in the saddle—climbing slope after slope at a brutal 10–15% grade, crossing mountain after mountain—our ragtag group of cyclists finally rolled into Tay Giang town. We were dreaming of a hot meal, maybe even a …
THE NEVER-ENDING 100 KM 7 Jun 2025 This morning, I set out on a cycling trip to Đông Giang with a pretty neat plan: ride all the way to Tư commune, turn back to stop by Trung Man market, grab my usual glass of mixed sweet soup at a familiar stall, then head home. The total would clock in nicely at 100 km, just enough to complete …
Pedaling to Hói Dừa Parish – and a Little Dip in the Wild 6 Jun 2025 One fine morning, I saddled up with my cycling comrade Khánh Huỳnh and climbed over Hải Vân Pass. From there, we swooped down into Lăng Cô and made a detour to visit Hói Dừa Parish. Funny enough, I’d biked past this area a bunch of times—looping around Lập An Lagoon, weaving through places called Hói Cạn, Hói Mít, and Hói …
Italy, Drafts, and Stamp Duty: Why Confirming Banks Prefer ‘Available by Payment’ in LCs 6 Jun 2025 QUESTION Dear Mr. Old Man, I have a scenario that I’d appreciate your thoughts on: The issuing bank is located in Singapore. The advising/confirming bank is in Trieste, Italy. In the original LC, Field 31D (Date and Place of Expiry) is: 18 June 2025 – Singapore. Field 41A (Available With… By) is: Available with the confirming bank by NEGOTIATION. The …
Endorsement Requirements for Drafts payable to the Beneficiary QUESTION Hello Mr Old Man, I hope you are well! I have a question regarding endorsement. LC is available by negotiation, we are the exporting bank, drawee is the issuing bank and the draft is been presented by the beneficiary as to the order of theirselves(to the order of beneficiary). So, is there necessary to endorse the draft to the … Read More
Insurance Certificate Compliance – Endorsement and Policy Number Clarification under LC QUESTION Dear Sir, Good afternoon! I have two questions regarding the Insurance Certificate. Q1. The LC includes the clause: “Insurance Policy or Certificate should be issued to the order of National Bank of XYZ, EGYPT.” The bill of lading contains a similar clause: “Full set of shipped on board B/L issued to the order of National Bank of XYZ, … Read More
Is the Insurance Certificate in Assignable Form Acceptable? QUESTION Dear Mr. Old Man, LC calls for full set of insurance certificates in negotiable form, covering ICC(A) for 110% of invoice value. Beneficiary: ABC Co. Ltd Issuing Bank: HSBC Dubai The presented insurance certificate shows the Assured as ABC Co. Ltd. It is endorsed with a stamp and signature of ABC Co. Ltd, and the endorsement reads: “To the … Read More
WHEN MUST THE TRANSFERRING BANK ADD ITS CONFIRMATION TO A TRANSFERRED L/C? QUESTION Dear Mr. Old Man, I have a question that’s been confusing me: The original L/C issued to the first beneficiary is confirmed. However, when that L/C is transferred to the second beneficiary, the transferred L/C does not include confirmation. Now, UCP 600 sub-article 38(g) clearly states: A transferred credit must accurately reflect the terms and conditions of the … Read More
KỶ NIỆM LÀ TIẾNG HÁT LÊN CHƠI VỚI . Cách đây đúng 8 năm, Mr. Old Man kết thúc hành trình “Người leo đèo Hải Vân nhiều nhất năm” bằng một cú tai nạn hú vía — may mà chỉ gãy 4 xương sườn và rách gân vai, vẫn còn cơ hội để… nhớ lại. . Đạp xe leo đèo Hải Vân với tổng quảng đường dài gần … Read More
PRE- SHIPMENT vs. PRESENTATION PERIOD QUESTION Dear Sir, Just a simple query as it has been kind of confusing for me. Let’s say: When pre-shipment is allowed and the L/C term in field 48 mentions: “21 days from shipment date” (as the latest presentation period), Can we quote a discrepancy on the grounds of late presentation? If pre-shipment is allowed and the documents are presented … Read More
AWB SHOWS DHL BOTH AS SHIPPER AND CONSIGNEE – WHY? QUESTION Dear Sir, I hope this message finds you well. I would like to ask for your opinion on a situation we encountered related to LC document handling, in accordance with our central bank’s regulations. In this case, the applicant had already taken delivery of the goods based on copy documents. Later, when we received the original documents under the … Read More
House Bill of Lading vs. Marine Bill of Lading: How to Distinguish them? QUESTION Dear Sir I have received an LC with the below clause. It states that the Marine Bill of Lading to be presented. + AS PER MOROCCAN EXCHANGE RULES, THE TRANSPORT DOCUMENTS HOUSE AIR WAYBILL (HAWB) AND FORWARDER’S CERTIFICATE OF RECEIPT (FCR) ARE NOT ACCEPTED, HOUSE BILL OF LADING(HBL) AND FIATA BILL OF LADING (FBL) ARE ACCEPTED IF AND ONLY IF ACCOMPANIED … Read More
Understanding ‘Full Set Less One’ & Discrepancy Fee Claims After Reimbursement QUESTION Dear Mr. Old Man, We would appreciate your comments on the following: Question 1: The letter of credit states in Field 46A: “Full set less one original bill of lading.” If the bill of lading indicates that it was issued in 3 originals (e.g., 3/3), would the presentation of 2 original bills of lading be considered compliant with the … Read More
Tấm ảnh cũ Hôm nay, tôi tình cờ bắt gặp một tấm ảnh cũ đã phủ màu thời gian – chụp cùng lớp giáo sinh tiếng Anh của Trường CĐSP Quảng Ngãi, cách đây gần bốn mươi năm. Hồi ấy, tôi là giáo viên chủ nhiệm lớp – gầy nhom nhưng tràn đầy nhiệt huyết. Tấm ảnh như một cánh cửa mở ra … Read More
Mr Old Man Endorsement Requirements for Drafts payable to the Beneficiary QUESTION Hello Mr Old Man, I hope you are well! I have a question regarding endorsement. LC is available by negotiation, we are the exporting bank, drawee is the issuing bank and the draft is been pre… Read More
Mr Old Man Endorsement Requirements for Drafts payable to the Beneficiary QUESTION Hello Mr Old Man, I hope you are well! I have a question regarding endorsement. LC is available by negotiation, we are the exporting bank, drawee is the issuing bank and the draft is been pre… Read More
Endorsement Requirements for Drafts payable to the Beneficiary QUESTION Hello Mr Old Man, I hope you are well! I have a question regarding endorsement. LC is available by negotiation, we are the exporting bank, drawee is the issuing bank and the draft is been presented by the beneficiary as to the order of theirselves(to the order of beneficiary). So, is there necessary to endorse the draft to the … Read More
Insurance Certificate Compliance – Endorsement and Policy Number Clarification under LC QUESTION Dear Sir, Good afternoon! I have two questions regarding the Insurance Certificate. Q1. The LC includes the clause: “Insurance Policy or Certificate should be issued to the order of National Bank of XYZ, EGYPT.” The bill of lading contains a similar clause: “Full set of shipped on board B/L issued to the order of National Bank of XYZ, … Read More
Is the Insurance Certificate in Assignable Form Acceptable? QUESTION Dear Mr. Old Man, LC calls for full set of insurance certificates in negotiable form, covering ICC(A) for 110% of invoice value. Beneficiary: ABC Co. Ltd Issuing Bank: HSBC Dubai The presented insurance certificate shows the Assured as ABC Co. Ltd. It is endorsed with a stamp and signature of ABC Co. Ltd, and the endorsement reads: “To the … Read More
WHEN MUST THE TRANSFERRING BANK ADD ITS CONFIRMATION TO A TRANSFERRED L/C? QUESTION Dear Mr. Old Man, I have a question that’s been confusing me: The original L/C issued to the first beneficiary is confirmed. However, when that L/C is transferred to the second beneficiary, the transferred L/C does not include confirmation. Now, UCP 600 sub-article 38(g) clearly states: A transferred credit must accurately reflect the terms and conditions of the … Read More
KỶ NIỆM LÀ TIẾNG HÁT LÊN CHƠI VỚI . Cách đây đúng 8 năm, Mr. Old Man kết thúc hành trình “Người leo đèo Hải Vân nhiều nhất năm” bằng một cú tai nạn hú vía — may mà chỉ gãy 4 xương sườn và rách gân vai, vẫn còn cơ hội để… nhớ lại. . Đạp xe leo đèo Hải Vân với tổng quảng đường dài gần … Read More
PRE- SHIPMENT vs. PRESENTATION PERIOD QUESTION Dear Sir, Just a simple query as it has been kind of confusing for me. Let’s say: When pre-shipment is allowed and the L/C term in field 48 mentions: “21 days from shipment date” (as the latest presentation period), Can we quote a discrepancy on the grounds of late presentation? If pre-shipment is allowed and the documents are presented … Read More
AWB SHOWS DHL BOTH AS SHIPPER AND CONSIGNEE – WHY? QUESTION Dear Sir, I hope this message finds you well. I would like to ask for your opinion on a situation we encountered related to LC document handling, in accordance with our central bank’s regulations. In this case, the applicant had already taken delivery of the goods based on copy documents. Later, when we received the original documents under the … Read More
House Bill of Lading vs. Marine Bill of Lading: How to Distinguish them? QUESTION Dear Sir I have received an LC with the below clause. It states that the Marine Bill of Lading to be presented. + AS PER MOROCCAN EXCHANGE RULES, THE TRANSPORT DOCUMENTS HOUSE AIR WAYBILL (HAWB) AND FORWARDER’S CERTIFICATE OF RECEIPT (FCR) ARE NOT ACCEPTED, HOUSE BILL OF LADING(HBL) AND FIATA BILL OF LADING (FBL) ARE ACCEPTED IF AND ONLY IF ACCOMPANIED … Read More
Understanding ‘Full Set Less One’ & Discrepancy Fee Claims After Reimbursement QUESTION Dear Mr. Old Man, We would appreciate your comments on the following: Question 1: The letter of credit states in Field 46A: “Full set less one original bill of lading.” If the bill of lading indicates that it was issued in 3 originals (e.g., 3/3), would the presentation of 2 original bills of lading be considered compliant with the … Read More
Tấm ảnh cũ Hôm nay, tôi tình cờ bắt gặp một tấm ảnh cũ đã phủ màu thời gian – chụp cùng lớp giáo sinh tiếng Anh của Trường CĐSP Quảng Ngãi, cách đây gần bốn mươi năm. Hồi ấy, tôi là giáo viên chủ nhiệm lớp – gầy nhom nhưng tràn đầy nhiệt huyết. Tấm ảnh như một cánh cửa mở ra … Read More
Mr Old Man Endorsement Requirements for Drafts payable to the Beneficiary QUESTION Hello Mr Old Man, I hope you are well! I have a question regarding endorsement. LC is available by negotiation, we are the exporting bank, drawee is the issuing bank and the draft is been pre… Read More
Mr Old Man Endorsement Requirements for Drafts payable to the Beneficiary QUESTION Hello Mr Old Man, I hope you are well! I have a question regarding endorsement. LC is available by negotiation, we are the exporting bank, drawee is the issuing bank and the draft is been pre… Read More
Mr Old Man Endorsement Requirements for Drafts payable to the Beneficiary QUESTION Hello Mr Old Man, I hope you are well! I have a question regarding endorsement. LC is available by negotiation, we are the exporting bank, drawee is the issuing bank and the draft is been pre… Read More
Mr Old Man Endorsement Requirements for Drafts payable to the Beneficiary QUESTION Hello Mr Old Man, I hope you are well! I have a question regarding endorsement. LC is available by negotiation, we are the exporting bank, drawee is the issuing bank and the draft is been pre… Read More
Endorsement Requirements for Drafts payable to the Beneficiary 20 Jun 2025 QUESTION Hello Mr Old Man, I hope you are well! I have a question regarding endorsement. LC is available by negotiation, we are the exporting bank, drawee is the issuing bank and the draft is been presented by the beneficiary as to the order of theirselves(to the order of beneficiary). So, is there necessary to endorse the draft to the …
Insurance Certificate Compliance – Endorsement and Policy Number Clarification under LC 20 Jun 2025 QUESTION Dear Sir, Good afternoon! I have two questions regarding the Insurance Certificate. Q1. The LC includes the clause: “Insurance Policy or Certificate should be issued to the order of National Bank of XYZ, EGYPT.” The bill of lading contains a similar clause: “Full set of shipped on board B/L issued to the order of National Bank of XYZ, …
Is the Insurance Certificate in Assignable Form Acceptable? 19 Jun 2025 QUESTION Dear Mr. Old Man, LC calls for full set of insurance certificates in negotiable form, covering ICC(A) for 110% of invoice value. Beneficiary: ABC Co. Ltd Issuing Bank: HSBC Dubai The presented insurance certificate shows the Assured as ABC Co. Ltd. It is endorsed with a stamp and signature of ABC Co. Ltd, and the endorsement reads: “To the …
WHEN MUST THE TRANSFERRING BANK ADD ITS CONFIRMATION TO A TRANSFERRED L/C? 19 Jun 2025 QUESTION Dear Mr. Old Man, I have a question that’s been confusing me: The original L/C issued to the first beneficiary is confirmed. However, when that L/C is transferred to the second beneficiary, the transferred L/C does not include confirmation. Now, UCP 600 sub-article 38(g) clearly states: A transferred credit must accurately reflect the terms and conditions of the …
KỶ NIỆM LÀ TIẾNG HÁT LÊN CHƠI VỚI 18 Jun 2025 . Cách đây đúng 8 năm, Mr. Old Man kết thúc hành trình “Người leo đèo Hải Vân nhiều nhất năm” bằng một cú tai nạn hú vía — may mà chỉ gãy 4 xương sườn và rách gân vai, vẫn còn cơ hội để… nhớ lại. . Đạp xe leo đèo Hải Vân với tổng quảng đường dài gần …
PRE- SHIPMENT vs. PRESENTATION PERIOD 16 Jun 2025 QUESTION Dear Sir, Just a simple query as it has been kind of confusing for me. Let’s say: When pre-shipment is allowed and the L/C term in field 48 mentions: “21 days from shipment date” (as the latest presentation period), Can we quote a discrepancy on the grounds of late presentation? If pre-shipment is allowed and the documents are presented …
AWB SHOWS DHL BOTH AS SHIPPER AND CONSIGNEE – WHY? 16 Jun 2025 QUESTION Dear Sir, I hope this message finds you well. I would like to ask for your opinion on a situation we encountered related to LC document handling, in accordance with our central bank’s regulations. In this case, the applicant had already taken delivery of the goods based on copy documents. Later, when we received the original documents under the …
House Bill of Lading vs. Marine Bill of Lading: How to Distinguish them? 13 Jun 2025 QUESTION Dear Sir I have received an LC with the below clause. It states that the Marine Bill of Lading to be presented. + AS PER MOROCCAN EXCHANGE RULES, THE TRANSPORT DOCUMENTS HOUSE AIR WAYBILL (HAWB) AND FORWARDER’S CERTIFICATE OF RECEIPT (FCR) ARE NOT ACCEPTED, HOUSE BILL OF LADING(HBL) AND FIATA BILL OF LADING (FBL) ARE ACCEPTED IF AND ONLY IF ACCOMPANIED …
Understanding ‘Full Set Less One’ & Discrepancy Fee Claims After Reimbursement 12 Jun 2025 QUESTION Dear Mr. Old Man, We would appreciate your comments on the following: Question 1: The letter of credit states in Field 46A: “Full set less one original bill of lading.” If the bill of lading indicates that it was issued in 3 originals (e.g., 3/3), would the presentation of 2 original bills of lading be considered compliant with the …
Tấm ảnh cũ 12 Jun 2025 Hôm nay, tôi tình cờ bắt gặp một tấm ảnh cũ đã phủ màu thời gian – chụp cùng lớp giáo sinh tiếng Anh của Trường CĐSP Quảng Ngãi, cách đây gần bốn mươi năm. Hồi ấy, tôi là giáo viên chủ nhiệm lớp – gầy nhom nhưng tràn đầy nhiệt huyết. Tấm ảnh như một cánh cửa mở ra …
Mr Old Man Endorsement Requirements for Drafts payable to the Beneficiary QUESTION Hello Mr Old Man, I hope you are well! I have a question regarding endorsement. LC is available by negotiation, we are the exporting bank, drawee is the issuing bank and the draft is been pre… Read More
Mr Old Man Endorsement Requirements for Drafts payable to the Beneficiary QUESTION Hello Mr Old Man, I hope you are well! I have a question regarding endorsement. LC is available by negotiation, we are the exporting bank, drawee is the issuing bank and the draft is been pre… Read More