Tag Archives: Transferable Credit

Difference between Transferable LC and Back to Back LC

Transferable LC A transferable LC is designated as transferable by the LC issuing bank, under which the beneficiary (first beneficiary) may request the advising bank (the transferring bank) to make the credit available in whole or in part to one or more other Beneficiary(ies) (second beneficiary(ies).                                     Such Credits are governed by Article 48 of… Read More »