Letter of Credit Forum

I think it is possible to define as a condition for transfer as following:

47A: ADDITIONAL CONDITIONS

This LC should be transferred to ......................company .........................bank ...............acc number and all the details

However, you shouldn't define that in LC. In many cases, the exporters don't want the importers to know who are the actual suppliers so the exporters often don't want that conditions to be quoted.

I think you can define in brief that this LC might be transfered, all information involved in transferring LC must be sent to issuing bank before docs are presented to issuing bank.

According to international banking practices, when a set of docs is transferred to the 2nd bene, the information of the 2nd bene which are quoted in some docs (such as B/L, P/L ...) will be sent to the issuing bank so that they can check docs. The 2nd bene sends docs to the 1st bene's banker. The 1st bene can substitute his draft and invoice then send the docs to the issuing bank for payment.

In many cases, no docs presented under LC is transferred.

It is possible to specify the condition in the LC as 

47A: ADDITIONAL CONDITIONS

This LC should be transferred to ......................company .........................bank ...............acc number and all the details

However it needs to be agreed between the applicant and beneficiary of the LC. Since in most of the cases the first beneficiary would not wish to disclose the second beneficiary (The actual supplier/manufacturer). Which inturn might get the business of the first beneficiary moved to the second beneficiary since applicant will be aware of the actual supplier already.