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 Institute Cargo Clauses (A) or (Air), as Applicable – Does It Meet an LC Requirement for Institute All Risks? Questions relating to insurance documents continue to generate a surprising number of discrepancies under letters of credit. One area that occasionally causes uncertainty is whether an insurance docum… Read More
Can a Bill of Lading Be Issued Outside the Country of Shipment? 12 Sep 2025 In documentary credit practice, a recurring question is whether a bill of lading must be issued at the port of loading or even in the country of shipment. With today’s centralized carrier systems and documentation hubs, the place of issuance may be far away from the actual port. But does this matter under UCP 600? Let’s see. ___ QUESTION Hi, …
Invoice Higher than the LC Amount – Can the Bank Pay More? 12 Sep 2025 In documentary credit operations, one of the recurring issues is when the presented commercial invoice shows an amount higher than that permitted under the letter of credit. Should the bank pay the full invoice value or restrict payment to the LC amount? Sub-article 18(b) of UCP 600 provides important guidance in this regard. Question Dear Mr. Old Man, We appreciate …
When “Better” Is Not Good Enough 12 Sep 2025 Intro In documentary credit practice, banks deal not with common sense but with strict compliance. Even if a document seems more reliable than what was asked for, the key question remains: does it match the LC conditions exactly? Question An L/C stated in Field 47A: “AT LEAST 14 DAYS DEMURRAGE AND DETENTION FREE AT DESTINATION TO BE CONFIRMED ON B/L …
Issuance Dates of Documents under UCP 600: What Does Sub-article 14(i) Really Mean? 10 Sep 2025 In documentary credit practice, timing can make or break a presentation. One of the less talked-about rules in UCP 600 is sub-article 14(i), which deals with the issuance date of documents. Can a document be dated before the LC was even issued? And what happens if a document shows a date later than the day it was presented to the …
Lời xin lỗi gửi anh Mark 9 Sep 2025 Anh Mark thân mến, Cách đây đúng 16 năm, Mr. Old Man đã lỡ viết một cái tút tuyên bố xanh rờn rằng sẽ “tạm biệt Facebook” nếu tìm được một “ngôi nhà” tốt hơn. Chắc hồi đó Facebook chưa xịn như bây giờ, nên Old Man mới dám buông lời “dọa dẫm” như vậy. Ấy thế mà 16 năm …
Notify Party vs. Applicant’s Name and Address on a Bill of Lading 8 Sep 2025 Intro In documentary credit practice, it’s not unusual to see slight variations in how applicant details are reflected on a bill of lading. A common concern is whether the applicant’s name and address must appear separately, or if details shown in the notify party field are sufficient. Here’s a recent query Mr. Old Man received. ________ Question Dear Mr. Old …
Institute Cargo Clauses (A) or (Air), as Applicable – Does It Meet an LC Requirement for Institute All Risks? Questions relating to insurance documents continue to generate a surprising number of discrepancies under letters of credit. One area that occasionally causes uncertainty is whether an insurance document must expressly state “All Risks” when the credit requires such coverage. In the following case, the LC called for insurance covering “Institute All Risks”, while the presented insurance document referred to “Institute … Read More
Does an Insurance Document Need to State “Effective Date” Exactly? One of the most common issues in the examination of insurance documents under letters of credit arises when the insurance policy or certificate is issued after the shipment date. ISBP 821 requires the insurance document to evidence that coverage was effective no later than the shipment date. But does the document need to use the exact wording “Effective Date”? What … Read More
From Negotiation to Payment: What’s Behind the Confirming Bank’s Request? Not all L/C amendments are about shipment dates, amounts, or documents. Sometimes, a confirming bank requests changes that appear quite technical, such as changing a credit from “available by negotiation” to “available by payment” or moving the place of expiry from one country to another. Are such amendments merely operational preferences, or do they have legal and risk implications for … Read More
Nomophobia – A New Word, A Familiar Feeling This morning, while enjoying a cup of coffee and scrolling through Facebook, Mr. Old Man came across a word he had never seen before: Nomophobia. The word refers to the fear or anxiety of being without a mobile phone or being unable to use it. When Mr. Old Man was studying English some decades ago, this word did not exist … Read More
Nomophobia – Hội chứng sợ không có điện thoại bên mình Hôm nay lướt Facebook, Mr. Old Man bắt gặp một từ tiếng Anh khá lạ: nomophobia. Ví dụ minh họa đi kèm rất dễ hiểu: “Many teenagers experience nomophobia when they forget their phones at home.” Tạm dịch: “Nhiều bạn trẻ trải qua hội chứng sợ không có điện thoại khi để quên điện thoại ở nhà.” Nomophobia được hiểu … Read More
Tắm Vitamin D (phần 2): Thay đổi quan điểm Hồi đầu tháng 5, Mr. Old Man từng viết bài “Tắm Vitamin D”, kể lại cảnh buổi sáng ở bãi biển Thanh Khê có nhiều cô chú lớn tuổi vùi mình dưới cát, nằm phơi nắng để “nạp Vitamin D” – theo cách nói vui của các cô chú là để tăng sức đề kháng, giảm đau lưng, đau chân, … Read More
Can an Issuing Bank Advise an LC Directly to the Beneficiary? One of the fundamental safeguards in documentary credits is the authentication process performed by an advising bank. But what happens if an issuing bank sends the LC directly to the beneficiary without involving an advising bank? Is this permissible under UCP 600, and what risks should the parties consider? Let’s look at a question from Gerson Mário. Question Dear Mr. … Read More
Does a Longer L/C Expiry Date Mean Greater Risk? And Is the Word “Clean” Really Necessary on a Bill of Lading? In international trade, many disputes arise not because parties misunderstand UCP 600, but because they mix up legal requirements with commercial practices. A reader recently asked Mr. Old Man about two common concerns in timber imports from Africa: whether the L/C expiry date must be linked to the shipping transit time, and whether removing the word “Clean” from “Clean On … Read More
Does Field 39A Cover Quantity Tolerance? A reader recently sent Mr. Old Man an interesting question about quantity tolerance under an L/C. The issue sounds simple at first glance, but in practice it often creates confusion between sales contract terms, the wording of the credit, and the application of UCP 600 Article 30. Here is the question and discussion. Question Dear Mr. Old Man, I would … Read More
CAN A COMMERCIAL INVOICE EXCEED THE LC AMOUNT? One area that occasionally causes confusion under UCP 600 is the relationship between Article 18(b) and Article 30(a). Many practitioners assume that a commercial invoice may exceed the LC amount only where the credit expressly allows a tolerance, or where the words “about” or “approximately” are used in connection with the credit amount under Article 30(a). However, Article 18(b) provides … Read More
Mr Old Man Institute Cargo Clauses (A) or (Air), as Applicable – Does It Meet an LC Requirement for Institute All Risks? Questions relating to insurance documents continue to generate a surprising number of discrepancies under letters of credit. One area that occasionally causes uncertainty is whether an insurance docum… Read More
Does a Longer L/C Expiry Date Mean Greater Risk? And Is the Word “Clean” Really Necessary on a Bill of Lading?
Mr Old Man Institute Cargo Clauses (A) or (Air), as Applicable – Does It Meet an LC Requirement for Institute All Risks? Questions relating to insurance documents continue to generate a surprising number of discrepancies under letters of credit. One area that occasionally causes uncertainty is whether an insurance docum… Read More
Does a Longer L/C Expiry Date Mean Greater Risk? And Is the Word “Clean” Really Necessary on a Bill of Lading?
Institute Cargo Clauses (A) or (Air), as Applicable – Does It Meet an LC Requirement for Institute All Risks? Questions relating to insurance documents continue to generate a surprising number of discrepancies under letters of credit. One area that occasionally causes uncertainty is whether an insurance document must expressly state “All Risks” when the credit requires such coverage. In the following case, the LC called for insurance covering “Institute All Risks”, while the presented insurance document referred to “Institute … Read More
Does an Insurance Document Need to State “Effective Date” Exactly? One of the most common issues in the examination of insurance documents under letters of credit arises when the insurance policy or certificate is issued after the shipment date. ISBP 821 requires the insurance document to evidence that coverage was effective no later than the shipment date. But does the document need to use the exact wording “Effective Date”? What … Read More
From Negotiation to Payment: What’s Behind the Confirming Bank’s Request? Not all L/C amendments are about shipment dates, amounts, or documents. Sometimes, a confirming bank requests changes that appear quite technical, such as changing a credit from “available by negotiation” to “available by payment” or moving the place of expiry from one country to another. Are such amendments merely operational preferences, or do they have legal and risk implications for … Read More
Nomophobia – A New Word, A Familiar Feeling This morning, while enjoying a cup of coffee and scrolling through Facebook, Mr. Old Man came across a word he had never seen before: Nomophobia. The word refers to the fear or anxiety of being without a mobile phone or being unable to use it. When Mr. Old Man was studying English some decades ago, this word did not exist … Read More
Nomophobia – Hội chứng sợ không có điện thoại bên mình Hôm nay lướt Facebook, Mr. Old Man bắt gặp một từ tiếng Anh khá lạ: nomophobia. Ví dụ minh họa đi kèm rất dễ hiểu: “Many teenagers experience nomophobia when they forget their phones at home.” Tạm dịch: “Nhiều bạn trẻ trải qua hội chứng sợ không có điện thoại khi để quên điện thoại ở nhà.” Nomophobia được hiểu … Read More
Tắm Vitamin D (phần 2): Thay đổi quan điểm Hồi đầu tháng 5, Mr. Old Man từng viết bài “Tắm Vitamin D”, kể lại cảnh buổi sáng ở bãi biển Thanh Khê có nhiều cô chú lớn tuổi vùi mình dưới cát, nằm phơi nắng để “nạp Vitamin D” – theo cách nói vui của các cô chú là để tăng sức đề kháng, giảm đau lưng, đau chân, … Read More
Can an Issuing Bank Advise an LC Directly to the Beneficiary? One of the fundamental safeguards in documentary credits is the authentication process performed by an advising bank. But what happens if an issuing bank sends the LC directly to the beneficiary without involving an advising bank? Is this permissible under UCP 600, and what risks should the parties consider? Let’s look at a question from Gerson Mário. Question Dear Mr. … Read More
Does a Longer L/C Expiry Date Mean Greater Risk? And Is the Word “Clean” Really Necessary on a Bill of Lading? In international trade, many disputes arise not because parties misunderstand UCP 600, but because they mix up legal requirements with commercial practices. A reader recently asked Mr. Old Man about two common concerns in timber imports from Africa: whether the L/C expiry date must be linked to the shipping transit time, and whether removing the word “Clean” from “Clean On … Read More
Does Field 39A Cover Quantity Tolerance? A reader recently sent Mr. Old Man an interesting question about quantity tolerance under an L/C. The issue sounds simple at first glance, but in practice it often creates confusion between sales contract terms, the wording of the credit, and the application of UCP 600 Article 30. Here is the question and discussion. Question Dear Mr. Old Man, I would … Read More
CAN A COMMERCIAL INVOICE EXCEED THE LC AMOUNT? One area that occasionally causes confusion under UCP 600 is the relationship between Article 18(b) and Article 30(a). Many practitioners assume that a commercial invoice may exceed the LC amount only where the credit expressly allows a tolerance, or where the words “about” or “approximately” are used in connection with the credit amount under Article 30(a). However, Article 18(b) provides … Read More
Mr Old Man Institute Cargo Clauses (A) or (Air), as Applicable – Does It Meet an LC Requirement for Institute All Risks? Questions relating to insurance documents continue to generate a surprising number of discrepancies under letters of credit. One area that occasionally causes uncertainty is whether an insurance docum… Read More
Does a Longer L/C Expiry Date Mean Greater Risk? And Is the Word “Clean” Really Necessary on a Bill of Lading?
Mr Old Man Institute Cargo Clauses (A) or (Air), as Applicable – Does It Meet an LC Requirement for Institute All Risks? Questions relating to insurance documents continue to generate a surprising number of discrepancies under letters of credit. One area that occasionally causes uncertainty is whether an insurance docum… Read More
Does a Longer L/C Expiry Date Mean Greater Risk? And Is the Word “Clean” Really Necessary on a Bill of Lading?
Mr Old Man Institute Cargo Clauses (A) or (Air), as Applicable – Does It Meet an LC Requirement for Institute All Risks? Questions relating to insurance documents continue to generate a surprising number of discrepancies under letters of credit. One area that occasionally causes uncertainty is whether an insurance docum… Read More
Does a Longer L/C Expiry Date Mean Greater Risk? And Is the Word “Clean” Really Necessary on a Bill of Lading?
Mr Old Man Institute Cargo Clauses (A) or (Air), as Applicable – Does It Meet an LC Requirement for Institute All Risks? Questions relating to insurance documents continue to generate a surprising number of discrepancies under letters of credit. One area that occasionally causes uncertainty is whether an insurance docum… Read More
Does a Longer L/C Expiry Date Mean Greater Risk? And Is the Word “Clean” Really Necessary on a Bill of Lading?
Institute Cargo Clauses (A) or (Air), as Applicable – Does It Meet an LC Requirement for Institute All Risks? 7 Jun 2026 Questions relating to insurance documents continue to generate a surprising number of discrepancies under letters of credit. One area that occasionally causes uncertainty is whether an insurance document must expressly state “All Risks” when the credit requires such coverage. In the following case, the LC called for insurance covering “Institute All Risks”, while the presented insurance document referred to “Institute …
Does an Insurance Document Need to State “Effective Date” Exactly? 7 Jun 2026 One of the most common issues in the examination of insurance documents under letters of credit arises when the insurance policy or certificate is issued after the shipment date. ISBP 821 requires the insurance document to evidence that coverage was effective no later than the shipment date. But does the document need to use the exact wording “Effective Date”? What …
From Negotiation to Payment: What’s Behind the Confirming Bank’s Request? 6 Jun 2026 Not all L/C amendments are about shipment dates, amounts, or documents. Sometimes, a confirming bank requests changes that appear quite technical, such as changing a credit from “available by negotiation” to “available by payment” or moving the place of expiry from one country to another. Are such amendments merely operational preferences, or do they have legal and risk implications for …
Nomophobia – A New Word, A Familiar Feeling 5 Jun 2026 This morning, while enjoying a cup of coffee and scrolling through Facebook, Mr. Old Man came across a word he had never seen before: Nomophobia. The word refers to the fear or anxiety of being without a mobile phone or being unable to use it. When Mr. Old Man was studying English some decades ago, this word did not exist …
Nomophobia – Hội chứng sợ không có điện thoại bên mình 5 Jun 2026 Hôm nay lướt Facebook, Mr. Old Man bắt gặp một từ tiếng Anh khá lạ: nomophobia. Ví dụ minh họa đi kèm rất dễ hiểu: “Many teenagers experience nomophobia when they forget their phones at home.” Tạm dịch: “Nhiều bạn trẻ trải qua hội chứng sợ không có điện thoại khi để quên điện thoại ở nhà.” Nomophobia được hiểu …
Tắm Vitamin D (phần 2): Thay đổi quan điểm 5 Jun 2026 Hồi đầu tháng 5, Mr. Old Man từng viết bài “Tắm Vitamin D”, kể lại cảnh buổi sáng ở bãi biển Thanh Khê có nhiều cô chú lớn tuổi vùi mình dưới cát, nằm phơi nắng để “nạp Vitamin D” – theo cách nói vui của các cô chú là để tăng sức đề kháng, giảm đau lưng, đau chân, …
Can an Issuing Bank Advise an LC Directly to the Beneficiary? 4 Jun 2026 One of the fundamental safeguards in documentary credits is the authentication process performed by an advising bank. But what happens if an issuing bank sends the LC directly to the beneficiary without involving an advising bank? Is this permissible under UCP 600, and what risks should the parties consider? Let’s look at a question from Gerson Mário. Question Dear Mr. …
Does a Longer L/C Expiry Date Mean Greater Risk? And Is the Word “Clean” Really Necessary on a Bill of Lading? 3 Jun 2026 In international trade, many disputes arise not because parties misunderstand UCP 600, but because they mix up legal requirements with commercial practices. A reader recently asked Mr. Old Man about two common concerns in timber imports from Africa: whether the L/C expiry date must be linked to the shipping transit time, and whether removing the word “Clean” from “Clean On …
Does Field 39A Cover Quantity Tolerance? 3 Jun 2026 A reader recently sent Mr. Old Man an interesting question about quantity tolerance under an L/C. The issue sounds simple at first glance, but in practice it often creates confusion between sales contract terms, the wording of the credit, and the application of UCP 600 Article 30. Here is the question and discussion. Question Dear Mr. Old Man, I would …
CAN A COMMERCIAL INVOICE EXCEED THE LC AMOUNT? 3 Jun 2026 One area that occasionally causes confusion under UCP 600 is the relationship between Article 18(b) and Article 30(a). Many practitioners assume that a commercial invoice may exceed the LC amount only where the credit expressly allows a tolerance, or where the words “about” or “approximately” are used in connection with the credit amount under Article 30(a). However, Article 18(b) provides …
Institute Cargo Clauses (A) or (Air), as Applicable – Does It Meet an LC Requirement for Institute All Risks?
Does a Longer L/C Expiry Date Mean Greater Risk? And Is the Word “Clean” Really Necessary on a Bill of Lading?
Mr Old Man Institute Cargo Clauses (A) or (Air), as Applicable – Does It Meet an LC Requirement for Institute All Risks? Questions relating to insurance documents continue to generate a surprising number of discrepancies under letters of credit. One area that occasionally causes uncertainty is whether an insurance docum… Read More
Does a Longer L/C Expiry Date Mean Greater Risk? And Is the Word “Clean” Really Necessary on a Bill of Lading?
Mr Old Man Institute Cargo Clauses (A) or (Air), as Applicable – Does It Meet an LC Requirement for Institute All Risks? Questions relating to insurance documents continue to generate a surprising number of discrepancies under letters of credit. One area that occasionally causes uncertainty is whether an insurance docum… Read More
Does a Longer L/C Expiry Date Mean Greater Risk? And Is the Word “Clean” Really Necessary on a Bill of Lading?
Institute Cargo Clauses (A) or (Air), as Applicable – Does It Meet an LC Requirement for Institute All Risks?
Institute Cargo Clauses (A) or (Air), as Applicable – Does It Meet an LC Requirement for Institute All Risks?