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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?…
Q&A

DP COLLECTION

QUESTION Sir, I want to know, if the documents on DP term are sent with clear instruction …
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…
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…

Q & A

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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HỘI AN CẦN ĐÁNH THỨC THỦY QUÁI NAMAZU!

Trong bài viết trước, Mr. Old Man đã kể về truyền thuyết thủy quái Namazu ở Chùa Cầu Hội An, đồng thời gửi đến Hội An một lời nhắn: Chùa Cầu đã được đại trùng tu, vậy sao không phục dựng hình tượng th…

TRUYỀN THUYẾT VỀ THỦY QUÁI NAMAZU Ở CHÙA CẦU HỘI AN CẦN ĐƯỢC TÁI DỰNG?

NAM Ô LÊN PHIM GẦN 130 NĂM TRƯỚC!

TIẾC CHO HỘI AN

MR. OLD MAN DỰ THẢO TRƯỚC PHÁT BIỂU CỦA HARRY KANE TRẬT CÙ CHÌA MẤT RỒI!

CAN A BANK ISSUE A PHYSICAL BANK GUARANTEE WITHOUT LOCAL PRESENCE?

16 Jan 2026

INTRO In practice, bank guarantees are often treated as if they must be issued or advised through a local bank in the beneficiary’s country. This assumption frequently leads to confusion between legal possibility and market or tender requirements, especially when physical bank guarantees are involved. The following question raises a simple but important issue: Can a bank issue a physical …

Về già nên ở phố hay ở quê?

15 Jan 2026

Lướt Facebook dạo này, thỉnh thoảng Mr. Old Man lại thấy nhiều bạn trung niên chia sẻ hình ảnh một ngôi nhà gỗ xinh xinh trên đồi, lối đi hai bên là hàng hồng nở rộ. Hoặc một khu vườn ngập nắng, gọn gàng, có rau, có hoa, có ao cá, có… đủ thứ nhìn rất đáng ước mơ. Không …

How to Calculate “Within 21 Days of Shipment” under ISBP 821

14 Jan 2026

Intro Time calculations under Letters of Credit often look simple, yet the word “within” continues to cause confusion — especially when readers focus on the example given in ISBP 821 paragraph A14(b)(i) and wonder whether the permitted period should extend both before and after the shipment date. The following Q&A addresses a very practical question: When an LC requires documents …

“Discrepancy Traps” in Letters of Credit: Should Beneficiaries Hold Their Ground?

14 Jan 2026

Intro From time to time, beneficiaries find themselves facing draft Letters of Credit containing conditions that appear unnecessary, impractical, or even deliberately risky. Are these merely poor drafting practices, or are they “discrepancy traps” waiting to happen? In the following exchange, Mr. Old Man shares his views on how sellers should respond when confronted with such LCs — and why …

EXW Incoterms and the AWB Trap: A Recipe for Confusion?

13 Jan 2026

Intro In documentary credit practice, mismatches between Incoterms® rules and LC document requirements are a frequent source of confusion — and disputes. One such classic mismatch arises when a credit issued under EXW Incoterms nevertheless requires the presentation of an air waybill (AWB). Is this automatically wrong? Or merely risky? A reader raised the issue bluntly — and rightly so. …

Ai rồi cũng từng là…

13 Jan 2026

(English version below: ___ Ai rồi cũng từng là… Mr. Old Man cũng vậy – cũng từng là thế này, thế kia. Nhưng rồi rốt cuộc, cũng chỉ là từng là. Có rất nhiều kiểu từng là lắm, để dành từ từ mà kể. Hôm nay chỉ xin kể một chuyện nhỏ: Mr. Old Man từng là gã …

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