What is a transferable Letter of Credit?

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What is a transferable Letter of Credit?

How can it be used for importing goods under my company name, if I do not have bank facilities.

2006-09-12 22:40:51 · 2 answers · asked by Anonymous in Business & Finance ➔ Credit

2 answers

In a transferable letter of credit, the first beneficiary (the exporter) may request the paying, accepting or negotiating bank to make the credit available in whole or in part to one or more second beneficiary(ies). The second beneficiary can be an export-manufacturer or an export-trader. The L/C is expressly designated "transferable" by the issuing bank on instructions of the applicant

2006-09-20 00:15:30 · answer #1 · answered by V R G 3 · 0⤊ 0⤋

have no idea sorry

2006-09-19 19:59:26 · answer #2 · answered by pattibcacl 6 · 0⤊ 0⤋