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Transfer L/C

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Mon, 03/08/2010 - 03:41
amran_raza
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Hi,

In case of transferable L/C which bank have authority to transfer the L/C to other beneficiaries and  how many beneficiaries can be entertain in one transferable L/C. Is there any restriction for nember of beneficiaries or not.

thanks

Imran Nazir 

 

 

‹ clause 41-d B/L issued to the order of the issuing bank of an L/C ›
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Mon, 03/08/2010 - 07:35
#1
smmujeeb
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Joined: 07/29/2008
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Transfer L/C

Imran Nazir, I completely agree with the below comments.

Issuing bank or advising bank can transfer the LC to number of beneficiaries ...

first bene can transfer the LC to ennumber of second bene, but second bene's cannot transfer it further.

Regards!!!!

Mujeeb :-) 

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Mon, 03/08/2010 - 04:28
#2
ZHMWCN
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Joined: 11/02/2008
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THE ANSWER FOR YOUR QUESTION

1. IN CASE OF TRANSFERABLE L/C,THE ISSUING BANK SHOULD AUTHORITY THE NOMINATED BANK OR A SPECIAL BANK OR ITSELF TO TRANSFER THE L/C.

2.THERE IS NO ANY RESTRICTION FOR NO. FO BENE IF THE TRANSFERABLE LC ALLOW PARTIAL DRAWING OR SHIPMENT. BUT THE RISKS SHOULD BE BEAR BY THE FIRST BENEFICIARY.

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