Corporate Letter of credit

[tijuanillo]

Hi All

I currently work for a medical company that was acquired by a big corporation that has company A, B, C and D with the purchase we became E.

All the companies use LC, we all sell to the same customers but different line of products, we have different systems, per say, SAP, JD Edward, etc., we all have different part numbers. With the merger of our companies, our customers would like to take advantage of purchasing from all different companies, the issue that we are facing is that in the countries that we only sell through an LC, our customer has the need to open an LC per company A, B, etc., which it means a higher cost to them, what we don't know but we are trying to accomplish is to see if we can generate an LC that will enable each of our companies to invoice our customer, and to each of our companies to be paid per their invoices, is this an option, has anyone heard of and LC like this? or is there an option to see if the LC can have different beneficiaries or if the payment can be remitted to one and then we can do an intercompany movement to transfer our funds

[picant]

Hi Pal,

it is possible to receive a transferable l/c with partial shipment allowed in favour of your mother company, the latter will transfer partially the l/c to the parent companis, without substitution of the invoice, so every companies will deal directly with your customers.
Being a difficult management of said l/c you have to contact your bank for details.
Other comments appreciated
Ciao