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
CAN AN EXPIRED LETTER OF CREDIT BE AMENDED TO EXTEND THE EXPIRY DATE? 22 May 2025 Two little girls at Thanh Khe Beach QUESTION Dear Mr. Old Man, Can an expired letter of credit (LC) be amended to extend its expiry date? Is there any rule that explicitly prevents such an amendment? Thank you, P. ———- ANSWER Hi P., The short answer is: it depends. Under UCP 600, sub-article 10(a), a letter of credit—unless otherwise stipulated …
VIETNAM’S FIRST CYCLIST TO COMPLETE EVERESTING HAI VAN PASS 21 May 2025 According to a post shared by Văn Tài Lê, on May 20, 2025, under scorching sun and harsh winds on Hải Vân Pass, cyclist Duy Ho officially took on the Everesting Hải Vân challenge—and successfully completed it at 2:30 AM on May 21, 2025. After 20 grueling ascents, totaling 22 hours, 24 minutes, and 8 seconds, Duy Ho reached an …
ĐÃ XUẤT HIỆN CUA-RƠ VIỆT NAM ĐẦU TIÊN HOÀN THÀNH EVERESTING HẢI VÂN 21 May 2025 Theo chia sẻ từ bạn Văn Tài Lê, ngày 20/5/2025, trong điều kiện nắng gió khắc nghiệt tại đèo Hải Vân, cua-rơ Duy Ho đã chính thức thực hiện thử thách Everesting Hải Vân – và hoàn thành xuất sắc vào lúc 2h30 sáng ngày 21/5/2025. Sau 20 lượt leo, với tổng thời gian 22 giờ 24 phút 8 giây, …
THỐNG KÊ TRUY CẬP TRANG WEB WWW.MROLDMAN.NET (21/4 – 21/5) 21 May 2025 Hôm nay, tình cờ ghé vào mục Statistics, Mr. Old Man thật sự ngạc nhiên khi thấy số lượng bạn đọc truy cập trang web www.mroldman.net trong vòng 30 ngày qua (từ 21/4 đến 21/5): 7.480 người dùng đã ghé thăm website Tổng cộng 79.400 lượt xem Điều thú vị là trang web đã đón nhận bạn đọc từ hàng trăm quốc …
ADVANCE PAYMENT & SBLC 20 May 2025 ANSWER Dear Mr. Old Man, Good day! The seller and the buyer agree to sign a sale contract with the following terms and conditions: The buyer will pay in advance the full contract value. The seller will effect shipment upon receipt of full payment from the buyer. Can the buyer request the seller to provide an SBLC to guarantee advance …
DISCREPANCY ARISING FROM MISMATCH IN PAYMENT TERMS ON INVOICE vs. LC 18 May 2025 Champa Dancing Apsara Relief QUESTION Dear Sir, Sorry to bore you with this irrelevant question but just out of curiosity is there any importance of payment term mentioned in the commercial invoice. Because as per ISBP the invoice must portray the contents mentioned in the field 45a of the L/C. So, if the payment term as per credit is 180 days …
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