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
Articles A DAILY CASE STUDY STORY (Vietnamese version below) On this day, eight years ago, Mr. Old Man shared his last case study and said goodbye — rather reluctantly — to his passion project, “A Daily Case Study on International Pay… Read More
BANK ADVANCES AGAINST EXPORT COLLECTION BILLS 5 Mar 2010 QUERY FROM NOVEMBER 11 Draft negotiation under D/P D/A Chào anh Em muốn hỏi trong trường hợp chiết khấu bộ chứng từ xuất theo phương thức nhờ thu thì ngân hàng chiết khấu thường yêu cầu 3/3 B/L qua ngân hàng hoặc B/L lập theo lệnh của ngân hàng chiết khấu (có đúng không ạ?)Trong trường hợp B/L được lập …
AVAILABILITY UNDER TRANSFERRED LC 5 Mar 2010 QUERY FROM <[email protected]> Hi a Duc,Rat vui khi duoc biet a, e search cac van de ve LC tren qooqle thi biet dc bloq cua a.E thay nhunq bai viet cua a rat hay va bo ich cho nhunq nquoi lam ttqt. E co van de nay muon hoi a chut dc k a.E co 1 LC : Irrevocable Transferrable– …
ADVISING LC WITHOUT ADDING CONFIRMATION 4 Mar 2010 QUERYBy Dholat on Thu Feb 05, 2009 11:36 pm We issued an LC and request a bank in Germany to confirm it. The bank however refused to confirm and sent us a swift to this effect. On the same day we received another swift which says that they have advised the credit without confirming it. Later we negotiated with another …
ARTICLE 18 (b) WHEN THE INVOICE AMOUNT IN EXCESS OF THAT PERMITTED BY LC 4 Mar 2010 QUERY FROM PENGUINSent To: Mr. Old Man RE: Điều 18b UCP600 Chào anh, Anh có thể giải thích ý nghĩa của điều 18b-UCP600 giúp em được không ạ?Cám ơn anh nhiều ạ———————— COMMENT FROM MR. OLD MAN Chào bạn, Cám ơn bạn đã hỏi ý kiến Mr. Old Man. Mr. Old Man xin trả lời câu hỏi của bạn như …
ARRIVAL ADVISING REPORT 4 Mar 2010 QUERY FROM NGUYEN LOAN Field 47A (Additional Conditions) of MT 700 stated: "Payment will be effected against documents with no discrepancies and the arrival advising report from shipping company which expiry date is as same as that of this L/C." Em muốn hỏi Mr là "arrival advising report" là loại chứng từ gì? ———————————- ANSWER FROM MR. OLD MANFrom: Nguyen …
A DAILY CASE STUDY STORY (Vietnamese version below) On this day, eight years ago, Mr. Old Man shared his last case study and said goodbye — rather reluctantly — to his passion project, “A Daily Case Study on International Payments and Trade Finance.” But then… life had other plans. International Payments and Trade Finance truly turned out to be a kind of calling. And that … Read More
Insurance Endorsement under an LC: “Endorsed to Bank” or “To the Order of Bank”? Intro Insurace documents under letters of credit often create confusion—especially when beneficiaries apply bill of lading concepts to insurance policies or certificates. One recurring grey area is whether an insurance document should be endorsed “to” a named bank or “to the order of” that bank, particularly when the credit expressly requires the document to be transferable. The following Q&A addresses … Read More
DDP, Insurance Documents, and Unloading Risk: Getting Incoterms® Right in an LC Context Intro One of the recurring sources of confusion in trade finance arises when Incoterms® are mechanically copied into a letter of credit without considering what those rules actually require — or do not require. A typical example is an LC issued on DDP terms that nevertheless calls for the presentation of an insurance policy or certificate. Is that correct? And … Read More
Can a Confirming Bank Refuse When Documents Arrive After Expiry? Intro In practice, documents are often presented to a nominated bank close to the LC expiry date and then forwarded onward to a confirming bank. This raises a recurring question: does the confirming bank have the right to refuse simply because the documents reach its counter after expiry? The following scenario illustrates why forwarding time must not be confused with … Read More
Lại nhớ chuyện… tào lao thời SQDB: Khi tiểu đội trưởng phải… xuống nước Hôm nay, thêm một bạn đồng môn ĐHSP Huế, cũng là đồng nghiệp ở CĐSP Nghĩa Bình, sau khi đọc tút Facebook của Mr. Old Man đã gửi tặng thêm một tấm ảnh chụp thời tham gia khóa SQDB năm đó (tiếc là không có Mr. Old Man). Nói thiệt, nhìn hình dáng ốm nhách và nước ảnh đen trắng … Read More
Xem ảnh cũ thời SQDB – nhớ toàn chuyện… tào lao Hôm qua, tình cờ lướt Facebook, Mr. Old Man bắt gặp một anh bạn từng là đồng môn ĐHSP Huế, sau này lại đồng nghiệp ở CĐSP Nghĩa Bình, chia sẻ tấm ảnh chụp chung với mấy ông mặc đồ bộ đội, mặt mũi nghiêm túc lắm. Nhìn kỹ mới té ngửa: hóa ra đó là những “đồng chí” cùng … Read More
On Board Date Format on a Bill of Lading: Is “25.12.24” a Discrepancy? Intro One of the most common — and often unnecessary — discrepancies raised in document examination relates to the format of dates shown on transport documents. Examiners sometimes hesitate when a date is expressed numerically rather than with the month stated in words. But does such hesitation have any basis under ISBP 821? Let’s look at a straightforward example. __________ … Read More
Must Documents Show the Issuing Bank’s LC Reference — and What About the Negotiating Bank’s Reference? Intro Credits often require that documents “indicate the L/C reference,” but do not always specify which reference is meant. Is it the issuing bank’s LC number? Or could a negotiating bank expect its own reference to appear on the documents? Mr. Old Man looks at this question through the lens of UCP 600 and ISBP 821. Question Dear Mr. Old … Read More
**Split Payments Under an LC: 80% of Invoice Amount or 80% of LC Amount?** Intro Credits that split payment between shipment and installation often cause confusion when partial shipments are involved. The key question is whether payment should be linked to a percentage of the invoice or a percentage of the LC amount. Question Dear Mr. Old Man, We have an LC for USD 10,000, available by payment. The LC provides: 80% payable against … Read More
Chốt đơn Q&A mọi lúc mọi nơi!!! Sáng nay ngồi ở Traditional Café, nhâm nhi ly cà phê mà cũng “chốt đơn” được 2 câu hỏi khá thú vị. Về nhà chỉ việc edit nhẹ rồi up website. Facebook thì tuần này kín lịch từ thứ Hai tới Chủ nhật, nên mấy bài này đành cho lên lịch trước — chạy thẳng sang… tuần sau, lố qua … Read More
Articles A DAILY CASE STUDY STORY (Vietnamese version below) On this day, eight years ago, Mr. Old Man shared his last case study and said goodbye — rather reluctantly — to his passion project, “A Daily Case Study on International Pay… Read More
Must Documents Show the Issuing Bank’s LC Reference — and What About the Negotiating Bank’s Reference?
Articles A DAILY CASE STUDY STORY (Vietnamese version below) On this day, eight years ago, Mr. Old Man shared his last case study and said goodbye — rather reluctantly — to his passion project, “A Daily Case Study on International Pay… Read More
Must Documents Show the Issuing Bank’s LC Reference — and What About the Negotiating Bank’s Reference?
A DAILY CASE STUDY STORY (Vietnamese version below) On this day, eight years ago, Mr. Old Man shared his last case study and said goodbye — rather reluctantly — to his passion project, “A Daily Case Study on International Payments and Trade Finance.” But then… life had other plans. International Payments and Trade Finance truly turned out to be a kind of calling. And that … Read More
Insurance Endorsement under an LC: “Endorsed to Bank” or “To the Order of Bank”? Intro Insurace documents under letters of credit often create confusion—especially when beneficiaries apply bill of lading concepts to insurance policies or certificates. One recurring grey area is whether an insurance document should be endorsed “to” a named bank or “to the order of” that bank, particularly when the credit expressly requires the document to be transferable. The following Q&A addresses … Read More
DDP, Insurance Documents, and Unloading Risk: Getting Incoterms® Right in an LC Context Intro One of the recurring sources of confusion in trade finance arises when Incoterms® are mechanically copied into a letter of credit without considering what those rules actually require — or do not require. A typical example is an LC issued on DDP terms that nevertheless calls for the presentation of an insurance policy or certificate. Is that correct? And … Read More
Can a Confirming Bank Refuse When Documents Arrive After Expiry? Intro In practice, documents are often presented to a nominated bank close to the LC expiry date and then forwarded onward to a confirming bank. This raises a recurring question: does the confirming bank have the right to refuse simply because the documents reach its counter after expiry? The following scenario illustrates why forwarding time must not be confused with … Read More
Lại nhớ chuyện… tào lao thời SQDB: Khi tiểu đội trưởng phải… xuống nước Hôm nay, thêm một bạn đồng môn ĐHSP Huế, cũng là đồng nghiệp ở CĐSP Nghĩa Bình, sau khi đọc tút Facebook của Mr. Old Man đã gửi tặng thêm một tấm ảnh chụp thời tham gia khóa SQDB năm đó (tiếc là không có Mr. Old Man). Nói thiệt, nhìn hình dáng ốm nhách và nước ảnh đen trắng … Read More
Xem ảnh cũ thời SQDB – nhớ toàn chuyện… tào lao Hôm qua, tình cờ lướt Facebook, Mr. Old Man bắt gặp một anh bạn từng là đồng môn ĐHSP Huế, sau này lại đồng nghiệp ở CĐSP Nghĩa Bình, chia sẻ tấm ảnh chụp chung với mấy ông mặc đồ bộ đội, mặt mũi nghiêm túc lắm. Nhìn kỹ mới té ngửa: hóa ra đó là những “đồng chí” cùng … Read More
On Board Date Format on a Bill of Lading: Is “25.12.24” a Discrepancy? Intro One of the most common — and often unnecessary — discrepancies raised in document examination relates to the format of dates shown on transport documents. Examiners sometimes hesitate when a date is expressed numerically rather than with the month stated in words. But does such hesitation have any basis under ISBP 821? Let’s look at a straightforward example. __________ … Read More
Must Documents Show the Issuing Bank’s LC Reference — and What About the Negotiating Bank’s Reference? Intro Credits often require that documents “indicate the L/C reference,” but do not always specify which reference is meant. Is it the issuing bank’s LC number? Or could a negotiating bank expect its own reference to appear on the documents? Mr. Old Man looks at this question through the lens of UCP 600 and ISBP 821. Question Dear Mr. Old … Read More
**Split Payments Under an LC: 80% of Invoice Amount or 80% of LC Amount?** Intro Credits that split payment between shipment and installation often cause confusion when partial shipments are involved. The key question is whether payment should be linked to a percentage of the invoice or a percentage of the LC amount. Question Dear Mr. Old Man, We have an LC for USD 10,000, available by payment. The LC provides: 80% payable against … Read More
Chốt đơn Q&A mọi lúc mọi nơi!!! Sáng nay ngồi ở Traditional Café, nhâm nhi ly cà phê mà cũng “chốt đơn” được 2 câu hỏi khá thú vị. Về nhà chỉ việc edit nhẹ rồi up website. Facebook thì tuần này kín lịch từ thứ Hai tới Chủ nhật, nên mấy bài này đành cho lên lịch trước — chạy thẳng sang… tuần sau, lố qua … Read More
Articles A DAILY CASE STUDY STORY (Vietnamese version below) On this day, eight years ago, Mr. Old Man shared his last case study and said goodbye — rather reluctantly — to his passion project, “A Daily Case Study on International Pay… Read More
Must Documents Show the Issuing Bank’s LC Reference — and What About the Negotiating Bank’s Reference?
Articles A DAILY CASE STUDY STORY (Vietnamese version below) On this day, eight years ago, Mr. Old Man shared his last case study and said goodbye — rather reluctantly — to his passion project, “A Daily Case Study on International Pay… Read More
Must Documents Show the Issuing Bank’s LC Reference — and What About the Negotiating Bank’s Reference?
Articles A DAILY CASE STUDY STORY (Vietnamese version below) On this day, eight years ago, Mr. Old Man shared his last case study and said goodbye — rather reluctantly — to his passion project, “A Daily Case Study on International Pay… Read More
Must Documents Show the Issuing Bank’s LC Reference — and What About the Negotiating Bank’s Reference?
Articles A DAILY CASE STUDY STORY (Vietnamese version below) On this day, eight years ago, Mr. Old Man shared his last case study and said goodbye — rather reluctantly — to his passion project, “A Daily Case Study on International Pay… Read More
Must Documents Show the Issuing Bank’s LC Reference — and What About the Negotiating Bank’s Reference?
A DAILY CASE STUDY STORY 28 Dec 2025 (Vietnamese version below) On this day, eight years ago, Mr. Old Man shared his last case study and said goodbye — rather reluctantly — to his passion project, “A Daily Case Study on International Payments and Trade Finance.” But then… life had other plans. International Payments and Trade Finance truly turned out to be a kind of calling. And that …
Insurance Endorsement under an LC: “Endorsed to Bank” or “To the Order of Bank”? 27 Dec 2025 Intro Insurace documents under letters of credit often create confusion—especially when beneficiaries apply bill of lading concepts to insurance policies or certificates. One recurring grey area is whether an insurance document should be endorsed “to” a named bank or “to the order of” that bank, particularly when the credit expressly requires the document to be transferable. The following Q&A addresses …
DDP, Insurance Documents, and Unloading Risk: Getting Incoterms® Right in an LC Context 26 Dec 2025 Intro One of the recurring sources of confusion in trade finance arises when Incoterms® are mechanically copied into a letter of credit without considering what those rules actually require — or do not require. A typical example is an LC issued on DDP terms that nevertheless calls for the presentation of an insurance policy or certificate. Is that correct? And …
Can a Confirming Bank Refuse When Documents Arrive After Expiry? 25 Dec 2025 Intro In practice, documents are often presented to a nominated bank close to the LC expiry date and then forwarded onward to a confirming bank. This raises a recurring question: does the confirming bank have the right to refuse simply because the documents reach its counter after expiry? The following scenario illustrates why forwarding time must not be confused with …
Lại nhớ chuyện… tào lao thời SQDB: Khi tiểu đội trưởng phải… xuống nước 25 Dec 2025 Hôm nay, thêm một bạn đồng môn ĐHSP Huế, cũng là đồng nghiệp ở CĐSP Nghĩa Bình, sau khi đọc tút Facebook của Mr. Old Man đã gửi tặng thêm một tấm ảnh chụp thời tham gia khóa SQDB năm đó (tiếc là không có Mr. Old Man). Nói thiệt, nhìn hình dáng ốm nhách và nước ảnh đen trắng …
Xem ảnh cũ thời SQDB – nhớ toàn chuyện… tào lao 25 Dec 2025 Hôm qua, tình cờ lướt Facebook, Mr. Old Man bắt gặp một anh bạn từng là đồng môn ĐHSP Huế, sau này lại đồng nghiệp ở CĐSP Nghĩa Bình, chia sẻ tấm ảnh chụp chung với mấy ông mặc đồ bộ đội, mặt mũi nghiêm túc lắm. Nhìn kỹ mới té ngửa: hóa ra đó là những “đồng chí” cùng …
On Board Date Format on a Bill of Lading: Is “25.12.24” a Discrepancy? 25 Dec 2025 Intro One of the most common — and often unnecessary — discrepancies raised in document examination relates to the format of dates shown on transport documents. Examiners sometimes hesitate when a date is expressed numerically rather than with the month stated in words. But does such hesitation have any basis under ISBP 821? Let’s look at a straightforward example. __________ …
Must Documents Show the Issuing Bank’s LC Reference — and What About the Negotiating Bank’s Reference? 23 Dec 2025 Intro Credits often require that documents “indicate the L/C reference,” but do not always specify which reference is meant. Is it the issuing bank’s LC number? Or could a negotiating bank expect its own reference to appear on the documents? Mr. Old Man looks at this question through the lens of UCP 600 and ISBP 821. Question Dear Mr. Old …
**Split Payments Under an LC: 80% of Invoice Amount or 80% of LC Amount?** 23 Dec 2025 Intro Credits that split payment between shipment and installation often cause confusion when partial shipments are involved. The key question is whether payment should be linked to a percentage of the invoice or a percentage of the LC amount. Question Dear Mr. Old Man, We have an LC for USD 10,000, available by payment. The LC provides: 80% payable against …
Chốt đơn Q&A mọi lúc mọi nơi!!! 23 Dec 2025 Sáng nay ngồi ở Traditional Café, nhâm nhi ly cà phê mà cũng “chốt đơn” được 2 câu hỏi khá thú vị. Về nhà chỉ việc edit nhẹ rồi up website. Facebook thì tuần này kín lịch từ thứ Hai tới Chủ nhật, nên mấy bài này đành cho lên lịch trước — chạy thẳng sang… tuần sau, lố qua …
Must Documents Show the Issuing Bank’s LC Reference — and What About the Negotiating Bank’s Reference?
Articles A DAILY CASE STUDY STORY (Vietnamese version below) On this day, eight years ago, Mr. Old Man shared his last case study and said goodbye — rather reluctantly — to his passion project, “A Daily Case Study on International Pay… Read More
Must Documents Show the Issuing Bank’s LC Reference — and What About the Negotiating Bank’s Reference?
Articles A DAILY CASE STUDY STORY (Vietnamese version below) On this day, eight years ago, Mr. Old Man shared his last case study and said goodbye — rather reluctantly — to his passion project, “A Daily Case Study on International Pay… Read More
Must Documents Show the Issuing Bank’s LC Reference — and What About the Negotiating Bank’s Reference?