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
Articles AVALIZATION UNDER DOCUMENTARY COLLECTIONS A 16-Year-Old Debate That Remains Relevant Today Mr. Old Man recently revisited an interesting discussion that took place more than 16 years ago on the DCI Discussion Forum regarding avalization under… Read More
Institute Cargo Clauses (A) or (Air), as Applicable – Does It Meet an LC Requirement for Institute All Risks?
Escaping Tet in Tay Giang 7 Jun 2025 — A Slow Ride Through the Mountains, the Cold, and the Unexpected Warmth of Strangers — Rolling into an Empty Town After eight grueling hours in the saddle—climbing slope after slope at a brutal 10–15% grade, crossing mountain after mountain—our ragtag group of cyclists finally rolled into Tay Giang town. We were dreaming of a hot meal, maybe even a …
THE NEVER-ENDING 100 KM 7 Jun 2025 This morning, I set out on a cycling trip to Đông Giang with a pretty neat plan: ride all the way to Tư commune, turn back to stop by Trung Man market, grab my usual glass of mixed sweet soup at a familiar stall, then head home. The total would clock in nicely at 100 km, just enough to complete …
Pedaling to Hói Dừa Parish – and a Little Dip in the Wild 6 Jun 2025 One fine morning, I saddled up with my cycling comrade Khánh Huỳnh and climbed over Hải Vân Pass. From there, we swooped down into Lăng Cô and made a detour to visit Hói Dừa Parish. Funny enough, I’d biked past this area a bunch of times—looping around Lập An Lagoon, weaving through places called Hói Cạn, Hói Mít, and Hói …
Italy, Drafts, and Stamp Duty: Why Confirming Banks Prefer ‘Available by Payment’ in LCs 6 Jun 2025 QUESTION Dear Mr. Old Man, I have a scenario that I’d appreciate your thoughts on: The issuing bank is located in Singapore. The advising/confirming bank is in Trieste, Italy. In the original LC, Field 31D (Date and Place of Expiry) is: 18 June 2025 – Singapore. Field 41A (Available With… By) is: Available with the confirming bank by NEGOTIATION. The …
Compliance of Multi-Endorsed BL with LC Terms 5 Jun 2025 QUESTION Dear Mr. Old Man, I have a question that needs your help. An LC issued by AGRIBANK requires the bill of lading to be “made out to order of AGRIBANK.” However, the presented bill of lading is made out to the order of BNP Paribas (Suisse) SA, and is endorsed in succession as follows: • BNP Paribas (Suisse) SA …
MEMO: Handling of Drafts and Documents under LC with Draft Drawn on Nominated Bank 4 Jun 2025 Subject: LC issued by K. BANK – Refusal to Confirm and Subsequent Presentation From: Mr. Old Man Date: 4 June 2025 Background Bank N received a letter of credit (LC) from K. BANK with the following terms: 41A: Available With Bank N By Negotiation 42A: Drawee: Bank N 42C: Draft: At Sight 47A: T/T Reimbursement is Not Allowed 49: Confirmation …
AVALIZATION UNDER DOCUMENTARY COLLECTIONS A 16-Year-Old Debate That Remains Relevant Today Mr. Old Man recently revisited an interesting discussion that took place more than 16 years ago on the DCI Discussion Forum regarding avalization under documentary collections. The discussion began with a question raised by Svishu from Kuwait and attracted comments from several respected trade finance practitioners, including Daniel D (Switzerland), Jim Barnes (United … Read More
Tiếc cho chợ Nồi Rang, tiếc cho Hội An – Vẫn còn tiếc Sáu năm trước, Mr. Old Man từng đạp xe ghé chợ Nồi Rang và viết một bài mà đến giờ vẫn thấy… khá hay về ngôi chợ quê đặc biệt này. Từ đó đến nay, Mr. Old Man cũng có vài lần quay lại. Lần gần nhất hồi tháng Ba, Mr. Old Man còn mang theo một tấm ảnh để … Read More
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
Articles AVALIZATION UNDER DOCUMENTARY COLLECTIONS A 16-Year-Old Debate That Remains Relevant Today Mr. Old Man recently revisited an interesting discussion that took place more than 16 years ago on the DCI Discussion Forum regarding avalization under… Read More
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?
Articles AVALIZATION UNDER DOCUMENTARY COLLECTIONS A 16-Year-Old Debate That Remains Relevant Today Mr. Old Man recently revisited an interesting discussion that took place more than 16 years ago on the DCI Discussion Forum regarding avalization under… Read More
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?
AVALIZATION UNDER DOCUMENTARY COLLECTIONS A 16-Year-Old Debate That Remains Relevant Today Mr. Old Man recently revisited an interesting discussion that took place more than 16 years ago on the DCI Discussion Forum regarding avalization under documentary collections. The discussion began with a question raised by Svishu from Kuwait and attracted comments from several respected trade finance practitioners, including Daniel D (Switzerland), Jim Barnes (United … Read More
Tiếc cho chợ Nồi Rang, tiếc cho Hội An – Vẫn còn tiếc Sáu năm trước, Mr. Old Man từng đạp xe ghé chợ Nồi Rang và viết một bài mà đến giờ vẫn thấy… khá hay về ngôi chợ quê đặc biệt này. Từ đó đến nay, Mr. Old Man cũng có vài lần quay lại. Lần gần nhất hồi tháng Ba, Mr. Old Man còn mang theo một tấm ảnh để … Read More
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
Articles AVALIZATION UNDER DOCUMENTARY COLLECTIONS A 16-Year-Old Debate That Remains Relevant Today Mr. Old Man recently revisited an interesting discussion that took place more than 16 years ago on the DCI Discussion Forum regarding avalization under… Read More
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?
Articles AVALIZATION UNDER DOCUMENTARY COLLECTIONS A 16-Year-Old Debate That Remains Relevant Today Mr. Old Man recently revisited an interesting discussion that took place more than 16 years ago on the DCI Discussion Forum regarding avalization under… Read More
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?
Articles AVALIZATION UNDER DOCUMENTARY COLLECTIONS A 16-Year-Old Debate That Remains Relevant Today Mr. Old Man recently revisited an interesting discussion that took place more than 16 years ago on the DCI Discussion Forum regarding avalization under… Read More
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?
Articles AVALIZATION UNDER DOCUMENTARY COLLECTIONS A 16-Year-Old Debate That Remains Relevant Today Mr. Old Man recently revisited an interesting discussion that took place more than 16 years ago on the DCI Discussion Forum regarding avalization under… Read More
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?
AVALIZATION UNDER DOCUMENTARY COLLECTIONS 9 Jun 2026 A 16-Year-Old Debate That Remains Relevant Today Mr. Old Man recently revisited an interesting discussion that took place more than 16 years ago on the DCI Discussion Forum regarding avalization under documentary collections. The discussion began with a question raised by Svishu from Kuwait and attracted comments from several respected trade finance practitioners, including Daniel D (Switzerland), Jim Barnes (United …
Tiếc cho chợ Nồi Rang, tiếc cho Hội An – Vẫn còn tiếc 8 Jun 2026 Sáu năm trước, Mr. Old Man từng đạp xe ghé chợ Nồi Rang và viết một bài mà đến giờ vẫn thấy… khá hay về ngôi chợ quê đặc biệt này. Từ đó đến nay, Mr. Old Man cũng có vài lần quay lại. Lần gần nhất hồi tháng Ba, Mr. Old Man còn mang theo một tấm ảnh để …
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 …
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?
Articles AVALIZATION UNDER DOCUMENTARY COLLECTIONS A 16-Year-Old Debate That Remains Relevant Today Mr. Old Man recently revisited an interesting discussion that took place more than 16 years ago on the DCI Discussion Forum regarding avalization under… Read More
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?
Articles AVALIZATION UNDER DOCUMENTARY COLLECTIONS A 16-Year-Old Debate That Remains Relevant Today Mr. Old Man recently revisited an interesting discussion that took place more than 16 years ago on the DCI Discussion Forum regarding avalization under… Read More
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?
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?