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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?…
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…
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…
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…
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…
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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Mr Old Man

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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CHẶT CÂY, NUÔI CHÓ VÀ… HÁT KARAOKE

Đọc cái tút của anh bạn Danny Haberer, người Hà Lan đang sống ở Gò Công, mới thấy… Việt Nam mình đúng là tự do số 1! Anh chàng đăng tấm ảnh đang chặt chuối trong vườn rồi kể chuyện ở Hà Lan: Muốn đốn …

DOES AN L/C REQUIRE WORD-FOR-WORD COMPLIANCE?

KHÁT VỌNG VĨ MÔ VS. HIỆN THỰC BÌNH DÂN

Ở TÂY, GÀ TRỐNG GÁY CÓ THỂ BỊ KIỆN. Ở VIỆT NAM, KARAOKE… KIỆN CỦ KHOAI!

NHỚ KHE RĂM – ĐIỂM ĐẾN HẤP DẪN CÁC PHƯỢT THỦ

WHERE THERE IS NO COLLECTION INSTRUCTION

6 Mar 2010

QUERY FROM V.Tohidi AS AN L/C SPECIALIST WORKING IN BANK, I HAVE RECEIVED A SET OF DOCUMENTARY COLLECTION WITHOUT COLLECTION ORDER , DIRECTLY FROM THE BENEFICIARY WHICH THE B/L IS TO THE ORDER OF THE BUYER.WHAT SHOULD I DO WHILE 1- THERE IS NO COLLECTION ORDER 2- B/L IS TO THE ORDER OF THE BUYER AND NOT TO THE ORDER …

WHETHER DRAFT IS TO BE DRAWN ON ISSUING BANK OR CONFIRMING BANK

6 Mar 2010

QUERY FROM DMSHETTY We had issued an Import Lc available by negotiation, authorising the advising Bank to add their confirmation and the Draft to be drawn on Confirming Bank. The advising Bank agreed to Confirm the Lc but wanted the draft to be drawn on us (i.e. Issuing Bank). Whether the advising Bank's request is in order? ————————- COMMENT N.H.DUC …

VESSEL NAME ON BILL OF LADING

6 Mar 2010

QUERY FROM NGUYEN TRANGRE: Vessel's name Dear Mr. Old Man, On B/L, the vessel s name is indicated as V.123W – for example. However, on other docs, the vessel s name is 123W (without a V. ). Is it a discrepancy? I thought that V. just stands for Voyage No. so it is not a discrepancy, but my manager disagreed. …

WHEN THE PROFORMA INVOICE IS AN INTEGRAL PART OF LC

6 Mar 2010

QUERY Nếu L/C đính kèm 1 proforma invoice thì NH sẽ phải kiểm tra những gì? ———————— ANSWER FROM MR. OLD MAN Nếu proforma invoice được gửi kèm như là một phần không tách rời LC thì thanh toán viên phải kiểm tra chứng từ có phù hợp với proforma invoice hay không, thông thường là kiểm tra các chi …

TO ORDER BILL OF LADING AND ENDORSEMENT

6 Mar 2010

QUERY FROM POPBABI Sent To: Mr. Old Man B/L If L/C require B/L to order endorsed of Issuing Bank , it is synonymous with requirement on B/L to be endorsed by Shipper ? At that time, Consignee on B/L must be one of each cases: – to order – to order of shipper – blank – to bearer ——————————————– COMMENT …

WHEN A BILL OF LADING SHOWS MORE THAN ONE ON BOARD NOTATION

6 Mar 2010

QUERY Trong ví dụ tính ngày đáo hạn của hối phiếu: Trên cùng một hối phiếu thể hiện 2 cảng và 2 ngày onboard. Trường hợp này xảy ra khi nào? ——————————— ANSWER FROM MR. OLD MAN Trường hợp này xảy ra khi hàng hóa được giao từ các cảng ở cùng khu vực địa lý. Ví dụ: LC yêu …

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