Letter of Credit Forum

hI all experts,

Can any one explain to me step by step tranfered lC which is stated as tranferable with an issuing bank then advised to a nomanate and trabfered bank, then advised the beneficary #1 then he assigned a second beneficary say #2 .

I need to know the transcation cycle if it is correct and the managment of the different between the two darft. and how a beneficary #1 get a differance between them.

with best reagrds,

A.Bushara