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 Sudan Sanctions and D/P Collection: Can the Payment Be Routed Through Another Bank? Introduction A practical question has arisen concerning a D/P (Documents against Payment) collection involving goods of Sudanese origin. The goods—watermelon seeds—were shipped from Sudan and have alr… Read More
Sống sót là đây chứ đâu! 21 Feb 2026 Mr. Old Man ngồi quán cà phê quen. Ly Americano thơm lựng trước mặt, điện thoại trên tay. Lướt Facebook gặp ngay tút dài thòng của anh bạn giảng viên ngân hàng viết về vụ Norrmalmstorg 1973, về quản trị khủng hoảng, về xác suất sống sót… Đọc xong, nhấp một ngụm cà phê, tự nhiên nghĩ tới mấy vụ …
CAN THE ISSUING BANK REFUSE TO HONOUR THE CONFIRMING BANK IF IT FINDS DISCREPANCIES? 20 Feb 2026 Executive Abstract This article examines whether an issuing bank may refuse to reimburse a confirming bank after the confirming bank has declared a presentation compliant. Where the issuing bank determines that the documents contain discrepancies and issues a refusal before reimbursement becomes due, Article 16(a) of UCP 600 permits refusal. The confirming bank’s declaration of compliance does not eliminate the …
Ba ngày Tết, hai ông vua phòng vé và một ông già nhiều chuyện 19 Feb 2026 Mùng Một Tết, Mr. Old Man đi xem “Thỏ ơi!” của Trấn Thành. Mùng Ba Tết, lại đi xem “Nhà Ba tôi một phòng” của Trường Giang. Hai phim. Hai màu sắc. Hai cách kể chuyện. “Thỏ ơi!” kịch tính, dữ dội, đẩy cảm xúc lên cao, có lúc cao quá mức cần thiết. Có thể nhiều khán giả thích …
CAN A CERTIFICATE OF ORIGIN SHOW “FORM M NUMBER” WITHOUT THE ACTUAL NUMBER IF THE APPLICANT AGREES TO ACCEPT THE DISCREPANCY? 18 Feb 2026 Understanding required data, Form M, and the limits of applicant–beneficiary agreements In documentary credit practice, credits sometimes require documents to indicate specific reference numbers issued by government authorities or other institutions. One example is Form M, a document used in Nigeria. Questions may arise when the importer does not want the number shown or indicates that discrepancies will be accepted. …
Five Practical Questions on ISBP 821 – A Few Points Worth Clarifying 18 Feb 2026 INTRO Every time a new version of ISBP is published, people read it carefully… and then real-life cases start raising new questions. That is how learning in trade finance usually works—not only from rules, but from practice. A reader recently sent me several thoughtful questions on ISBP 821. Since they touch on points many practitioners quietly wonder about, I thought …
Short Shipment: A Term the Rules Don’t Define, but Bankers Still Use 18 Feb 2026 A small discussion that turned into an interesting rediscovery Actually, this is not a typical Q&A but rather a short exchange between me and Bogdan, a trade finance expert whom I have known since we were both editors of LC Monitor (Trade Services Update) some 15 years ago. What amused me most was not the question itself, but the way …
Sudan Sanctions and D/P Collection: Can the Payment Be Routed Through Another Bank? Introduction A practical question has arisen concerning a D/P (Documents against Payment) collection involving goods of Sudanese origin. The goods—watermelon seeds—were shipped from Sudan and have already arrived at customs. The importer intends to make payment in AED to the beneficiary in Dubai. The collecting bank received an MT199 from Mashreq Bank New York setting out its sanctions and internal … Read More
Is the Central Bank Liable if the Issuing Bank Becomes Bankrupt? Introduction An issuing bank assumes a primary obligation to honor a complying presentation under article 7 of UCP 600. However, beneficiaries occasionally raise a more difficult question: What happens if the issuing bank becomes insolvent, is subject to international sanctions, or is otherwise unable to fulfill its undertaking? Would the central bank, the ministry of finance, or another government authority … Read More
Mistyping of the L/C Number on Documents: Is It a Valid Discrepancy? It is common for documentary credits to require that all presented documents indicate the credit number. In practice, however, typographical errors occasionally occur. A frequently asked question is whether an issuing bank may refuse documents when the credit number appears incorrectly, even though the mistake is merely the result of a typing error. The following question concerns a situation in … Read More
Late Payment Interest Claim under a Sight Letter of Credit Under a sight letter of credit, the issuing bank is required to honour a complying presentation. However, UCP 600 also grants banks up to five banking days to examine the documents. The question often arises whether an issuing bank that effects payment after the expiry of the five-day examination period is liable to pay late-payment interest, particularly when the credit … Read More
Does “Clean On Board” Eliminate the Need for a Dated Onboard Notation? A recurring question in documentary credit practice is whether the issue date of a bill of lading may be treated as the shipment date when the document is pre-printed “Received by the carrier” but also bears the wording “Clean On Board”. The answer is not always straightforward and depends on the interaction between UCP 600, ISBP, and ICC Banking Commission … Read More
Does a Certificate Stating Compliance with a Phytosanitary Certificate Satisfy the L/C Requirement? Introduction: The interpretation of documentary requirements containing multiple alternatives linked by the word “or” can sometimes lead to different conclusions between the issuing bank and the beneficiary. The following case concerns an L/C clause requiring a certificate relating to the treatment of wood packing material, where the issuing bank and the beneficiary bank adopted different interpretations of the same wording. … Read More
Origin Station vs. Airport of Departure on an Air Waybill A reader recently asked whether an air waybill would be discrepant if it uses the terms “Origin Station” and “Destination Station” instead of “Airport of Departure” and “Airport of Destination” required by the letter of credit. The reader also asked whether the presence of both a Master Air Waybill (MAWB) number and a House Air Waybill (HAWB) number, together with … Read More
Bill of Lading or Multimodal Transport Document? Which UCP 600 Article Applies? A credit requires a “full set clean on board bill of lading” but, at the same time, field 44A specifies an inland place of taking in charge, while fields 44E and 44F indicate the port of loading and port of discharge. A multimodal transport document is subsequently presented, bearing only the notation “Received for Shipment” and no dated on-board notation. … Read More
Đà Nẵng – Thành phố xe đạp: Mr. Old Man sai rồi! Hơn 10 năm trước, Mr. Old Man từng viết bài “Đà Nẵng – Thành phố xe đạp. Tại sao không?”, đăng trên trang Quản lý Đô thị Đà Nẵng. Bài viết đề xuất một tầm nhìn dài hạn nhằm biến Đà Nẵng trở thành thành phố xe đạp đầu tiên của Việt Nam, xem xe đạp là một giải pháp … Read More
Thay avatar Chơi Facebook cũng hơn 17 năm, đã vài lần thay avatar, nhưng lần gần nhất chắc cũng ngót nghét chục năm rồi. Nhìn tấm ảnh cũ, trẻ trung và khỏe mạnh thì cũng thích thật, nhưng để mãi đôi khi thấy hơi… kỳ kỳ. Mấy ông bạn cà phê còn trêu: “Trông trẻ ghê hè. Đổi nick thành Mr. Young … Read More
Mr Old Man Sudan Sanctions and D/P Collection: Can the Payment Be Routed Through Another Bank? Introduction A practical question has arisen concerning a D/P (Documents against Payment) collection involving goods of Sudanese origin. The goods—watermelon seeds—were shipped from Sudan and have alr… Read More
Mr Old Man Sudan Sanctions and D/P Collection: Can the Payment Be Routed Through Another Bank? Introduction A practical question has arisen concerning a D/P (Documents against Payment) collection involving goods of Sudanese origin. The goods—watermelon seeds—were shipped from Sudan and have alr… Read More
Sudan Sanctions and D/P Collection: Can the Payment Be Routed Through Another Bank? Introduction A practical question has arisen concerning a D/P (Documents against Payment) collection involving goods of Sudanese origin. The goods—watermelon seeds—were shipped from Sudan and have already arrived at customs. The importer intends to make payment in AED to the beneficiary in Dubai. The collecting bank received an MT199 from Mashreq Bank New York setting out its sanctions and internal … Read More
Is the Central Bank Liable if the Issuing Bank Becomes Bankrupt? Introduction An issuing bank assumes a primary obligation to honor a complying presentation under article 7 of UCP 600. However, beneficiaries occasionally raise a more difficult question: What happens if the issuing bank becomes insolvent, is subject to international sanctions, or is otherwise unable to fulfill its undertaking? Would the central bank, the ministry of finance, or another government authority … Read More
Mistyping of the L/C Number on Documents: Is It a Valid Discrepancy? It is common for documentary credits to require that all presented documents indicate the credit number. In practice, however, typographical errors occasionally occur. A frequently asked question is whether an issuing bank may refuse documents when the credit number appears incorrectly, even though the mistake is merely the result of a typing error. The following question concerns a situation in … Read More
Late Payment Interest Claim under a Sight Letter of Credit Under a sight letter of credit, the issuing bank is required to honour a complying presentation. However, UCP 600 also grants banks up to five banking days to examine the documents. The question often arises whether an issuing bank that effects payment after the expiry of the five-day examination period is liable to pay late-payment interest, particularly when the credit … Read More
Does “Clean On Board” Eliminate the Need for a Dated Onboard Notation? A recurring question in documentary credit practice is whether the issue date of a bill of lading may be treated as the shipment date when the document is pre-printed “Received by the carrier” but also bears the wording “Clean On Board”. The answer is not always straightforward and depends on the interaction between UCP 600, ISBP, and ICC Banking Commission … Read More
Does a Certificate Stating Compliance with a Phytosanitary Certificate Satisfy the L/C Requirement? Introduction: The interpretation of documentary requirements containing multiple alternatives linked by the word “or” can sometimes lead to different conclusions between the issuing bank and the beneficiary. The following case concerns an L/C clause requiring a certificate relating to the treatment of wood packing material, where the issuing bank and the beneficiary bank adopted different interpretations of the same wording. … Read More
Origin Station vs. Airport of Departure on an Air Waybill A reader recently asked whether an air waybill would be discrepant if it uses the terms “Origin Station” and “Destination Station” instead of “Airport of Departure” and “Airport of Destination” required by the letter of credit. The reader also asked whether the presence of both a Master Air Waybill (MAWB) number and a House Air Waybill (HAWB) number, together with … Read More
Bill of Lading or Multimodal Transport Document? Which UCP 600 Article Applies? A credit requires a “full set clean on board bill of lading” but, at the same time, field 44A specifies an inland place of taking in charge, while fields 44E and 44F indicate the port of loading and port of discharge. A multimodal transport document is subsequently presented, bearing only the notation “Received for Shipment” and no dated on-board notation. … Read More
Đà Nẵng – Thành phố xe đạp: Mr. Old Man sai rồi! Hơn 10 năm trước, Mr. Old Man từng viết bài “Đà Nẵng – Thành phố xe đạp. Tại sao không?”, đăng trên trang Quản lý Đô thị Đà Nẵng. Bài viết đề xuất một tầm nhìn dài hạn nhằm biến Đà Nẵng trở thành thành phố xe đạp đầu tiên của Việt Nam, xem xe đạp là một giải pháp … Read More
Thay avatar Chơi Facebook cũng hơn 17 năm, đã vài lần thay avatar, nhưng lần gần nhất chắc cũng ngót nghét chục năm rồi. Nhìn tấm ảnh cũ, trẻ trung và khỏe mạnh thì cũng thích thật, nhưng để mãi đôi khi thấy hơi… kỳ kỳ. Mấy ông bạn cà phê còn trêu: “Trông trẻ ghê hè. Đổi nick thành Mr. Young … Read More
Mr Old Man Sudan Sanctions and D/P Collection: Can the Payment Be Routed Through Another Bank? Introduction A practical question has arisen concerning a D/P (Documents against Payment) collection involving goods of Sudanese origin. The goods—watermelon seeds—were shipped from Sudan and have alr… Read More
Mr Old Man Sudan Sanctions and D/P Collection: Can the Payment Be Routed Through Another Bank? Introduction A practical question has arisen concerning a D/P (Documents against Payment) collection involving goods of Sudanese origin. The goods—watermelon seeds—were shipped from Sudan and have alr… Read More
Mr Old Man Sudan Sanctions and D/P Collection: Can the Payment Be Routed Through Another Bank? Introduction A practical question has arisen concerning a D/P (Documents against Payment) collection involving goods of Sudanese origin. The goods—watermelon seeds—were shipped from Sudan and have alr… Read More
Mr Old Man Sudan Sanctions and D/P Collection: Can the Payment Be Routed Through Another Bank? Introduction A practical question has arisen concerning a D/P (Documents against Payment) collection involving goods of Sudanese origin. The goods—watermelon seeds—were shipped from Sudan and have alr… Read More
Sudan Sanctions and D/P Collection: Can the Payment Be Routed Through Another Bank? 9 Aug 2026 Introduction A practical question has arisen concerning a D/P (Documents against Payment) collection involving goods of Sudanese origin. The goods—watermelon seeds—were shipped from Sudan and have already arrived at customs. The importer intends to make payment in AED to the beneficiary in Dubai. The collecting bank received an MT199 from Mashreq Bank New York setting out its sanctions and internal …
Is the Central Bank Liable if the Issuing Bank Becomes Bankrupt? 9 Aug 2026 Introduction An issuing bank assumes a primary obligation to honor a complying presentation under article 7 of UCP 600. However, beneficiaries occasionally raise a more difficult question: What happens if the issuing bank becomes insolvent, is subject to international sanctions, or is otherwise unable to fulfill its undertaking? Would the central bank, the ministry of finance, or another government authority …
Mistyping of the L/C Number on Documents: Is It a Valid Discrepancy? 8 Aug 2026 It is common for documentary credits to require that all presented documents indicate the credit number. In practice, however, typographical errors occasionally occur. A frequently asked question is whether an issuing bank may refuse documents when the credit number appears incorrectly, even though the mistake is merely the result of a typing error. The following question concerns a situation in …
Late Payment Interest Claim under a Sight Letter of Credit 8 Aug 2026 Under a sight letter of credit, the issuing bank is required to honour a complying presentation. However, UCP 600 also grants banks up to five banking days to examine the documents. The question often arises whether an issuing bank that effects payment after the expiry of the five-day examination period is liable to pay late-payment interest, particularly when the credit …
Does “Clean On Board” Eliminate the Need for a Dated Onboard Notation? 8 Aug 2026 A recurring question in documentary credit practice is whether the issue date of a bill of lading may be treated as the shipment date when the document is pre-printed “Received by the carrier” but also bears the wording “Clean On Board”. The answer is not always straightforward and depends on the interaction between UCP 600, ISBP, and ICC Banking Commission …
Does a Certificate Stating Compliance with a Phytosanitary Certificate Satisfy the L/C Requirement? 8 Aug 2026 Introduction: The interpretation of documentary requirements containing multiple alternatives linked by the word “or” can sometimes lead to different conclusions between the issuing bank and the beneficiary. The following case concerns an L/C clause requiring a certificate relating to the treatment of wood packing material, where the issuing bank and the beneficiary bank adopted different interpretations of the same wording. …
Origin Station vs. Airport of Departure on an Air Waybill 7 Aug 2026 A reader recently asked whether an air waybill would be discrepant if it uses the terms “Origin Station” and “Destination Station” instead of “Airport of Departure” and “Airport of Destination” required by the letter of credit. The reader also asked whether the presence of both a Master Air Waybill (MAWB) number and a House Air Waybill (HAWB) number, together with …
Bill of Lading or Multimodal Transport Document? Which UCP 600 Article Applies? 7 Aug 2026 A credit requires a “full set clean on board bill of lading” but, at the same time, field 44A specifies an inland place of taking in charge, while fields 44E and 44F indicate the port of loading and port of discharge. A multimodal transport document is subsequently presented, bearing only the notation “Received for Shipment” and no dated on-board notation. …
Đà Nẵng – Thành phố xe đạp: Mr. Old Man sai rồi! 7 Aug 2026 Hơn 10 năm trước, Mr. Old Man từng viết bài “Đà Nẵng – Thành phố xe đạp. Tại sao không?”, đăng trên trang Quản lý Đô thị Đà Nẵng. Bài viết đề xuất một tầm nhìn dài hạn nhằm biến Đà Nẵng trở thành thành phố xe đạp đầu tiên của Việt Nam, xem xe đạp là một giải pháp …
Thay avatar 6 Aug 2026 Chơi Facebook cũng hơn 17 năm, đã vài lần thay avatar, nhưng lần gần nhất chắc cũng ngót nghét chục năm rồi. Nhìn tấm ảnh cũ, trẻ trung và khỏe mạnh thì cũng thích thật, nhưng để mãi đôi khi thấy hơi… kỳ kỳ. Mấy ông bạn cà phê còn trêu: “Trông trẻ ghê hè. Đổi nick thành Mr. Young …
Mr Old Man Sudan Sanctions and D/P Collection: Can the Payment Be Routed Through Another Bank? Introduction A practical question has arisen concerning a D/P (Documents against Payment) collection involving goods of Sudanese origin. The goods—watermelon seeds—were shipped from Sudan and have alr… Read More
Mr Old Man Sudan Sanctions and D/P Collection: Can the Payment Be Routed Through Another Bank? Introduction A practical question has arisen concerning a D/P (Documents against Payment) collection involving goods of Sudanese origin. The goods—watermelon seeds—were shipped from Sudan and have alr… Read More