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?
MISSING ĐÔNG GIANG – A JOURNEY OF MEMORY AND MOUNTAIN ROADS 7 May 2025 By Mr. Old Man Getting lost, but finding a bond I still remember my first time, about ten years ago, when I biked to Ngầm Đôi. On the way back, sun-drunk and disoriented, I somehow ended up all the way in Đông Giang. That “accidental” detour turned into a quiet bond. Every now and then, the memory calls me back—back …
The Third Return to the Lost Village 7 May 2025 The gate of Vân Village. A place of memories beneath Hải Vân Pass I still call Hòa Vân leprosy village – or simply Vân Village – nestled at the foot of Hải Vân Pass, “the lost village.” Today, it’s little more than a ruin: crumbling houses, moss-covered walls, and weeds reclaiming the ground. Nearly a decade ago, with support from …
WHETHER THE ISSUING BANK CAN PREPAY OR PURCHASE ITS OWN ACCEPTED DRAFT OR ITS OWN DEFERRED PAYMENT UNDERTAKING 6 May 2025 QUESTION Dear Mr. Old Man, Hope this mail finds you well. I have a question that needs your expertise clarification: Can the issuing bank prepay or purchase its own accepted draft or its own deferred payment undertaking under UCP 600 sub-article 12(b)? Thank you. Frank —— ANSWER Hi Frank, UCP 600 Article 12(b) permits a nominated bank that has accepted …
NOTIFY PARTY ON BILL OF LADING 6 May 2025 QUESTION Dear Mr. Old Man, The Letter of Credit includes the following details: Field 50 (Applicant): AAA Company … Hong Kong Field 46A (Documents Required): … Full set of clean on board original ocean bill of lading made out to the order of ABC Bank Ltd, notify applicant, marked “freight prepaid”. … Field 47A (Additional Conditions): All documents must state …
CHECKING IN AT ĐO ĐO MARKET 5 May 2025 From dreamy fiction to countryside reality By Mr. Old Man Photo: Đinh Hồng Ân Last week, Dreamy Eyes (Mắt biếc)—the latest film by director Victor Vũ—sparked a wave of nostalgia and curiosity among young viewers. Adapted from Nguyễn Nhật Ánh’s beloved novel, the film takes place in the fictional village of Đo Đo, also the author’s real-life hometown, and the …
Tà Lang – A Natural Wonder Just a Ride Away from Đà Nẵng 4 May 2025 By Mr. Old Man When people hear about Tà Lang– Giàn Bí Stream, they often imagine a remote and hard-to-reach place. But in truth, Tà Lang isn’t far at all. It’s a small mountain village home to the Cơ Tu ethnic community, located just 35 km west of downtown Đà Nẵng. You can cycle to Tà Lang – Giàn Bí …
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?