A letter of credit used by export brokers in which the rights and obligations of the beneficiary (the broker) may be transferred, in full or in part, to a third party for purposes of gaining access to a buyer's line of credit to be used for payment to a manufacturer. The issuing bank may only transfer the letter of credit with the approval of the beneficiary and it may only be transferred once to a secondary beneficiary.
Related information about transferable letter of credit:
- Transferable Letter Of Credit Definition | Investopedia
A letter of credit that permits the beneficiary of the letter to make some or all of the credit available to another party, thereby creating a secondary beneficiary.
- Transferable Letter of Credit
Transferable Letter of Credit usage, rules and main areas of trouble regarding the Transferable Letter of Credit transactions.
- Transferable letter of credit - CreditManagementWorld.com
A transferable letter of credit is one, which specifically states that it is transferable. This will only occur if the applicant for the letter of credit (buyer) agrees.
- Transferable Letter of Credit: A Smart Way to Extend Your Credit ...
Transferable Letter of Credit: A Smart Way to Extend Your Credit Protection.
- What is transferable letter of credit (L/C)? definition and meaning
Definition of transferable letter of credit (L/C): Irrevocable L/C with two (and only two) successive beneficiaries. In this arrangement, the first beneficiary (an ...
- Transferable Letter of Credit financial definition of Transferable ...
Document that allows the first beneficiary on a standby bank assurance of funds to transfer all or part of the original letter of credit to a third party.
- What Is a Transferable Letter of Credit?
A transferable letter of credit is a document that is issued to a specific party, and can be reassigned to another individual or entity under certain circumstances.
- Transferable Letter Of Credit: Definition from Answers.com
Transferable Letter of Credit Letter of Credit giving the Beneficiary the option of making part or all of the credit available to third parties (secondary.