QUERY ON TRANSFERRABLE LETTER OF CREDIT

[ABDULKADER]

Hello:

One of our customer is in the process of executing one transferrable LC (overseas LC), where in we are the 2nd beneficiary in Dubai, UAE and the first beneficiary also in Dubai, UAE.

As per the LC incoterm is Ex-Works, Jebel Ali Free Zone, UAE

As a second beneficiary, our BU (the concern business sector) is willing to provide only commercial invoice and the packing list. Therefore, we have requested the first beneficiary to ask the applicant to frame the clauses accordingly in the LC.

Will it possible (UCP allows) only to present invoice and packing list from the 2nd beneficiary for the overseas transferrable LC. Please clarify....

Thanks and regards

ABDUL KADER
CORPORATE BUSINESS UNIT
FINANCE DIVISION
JUMA AL MAJID GROUP

[picant]

Hi Pal,

specially with Incoterm EXW no trasport document should not be presented by the seller, however it is the
originary l/c that must require or not such document.
A simple carrier's receipt would suffice!
Let us know
Ciao

[880]

Field 44E: Port of Loading/Airport of Departure

need an urgent suggestion that in term of transporting by VLCC if the clause support International Water as Port of Loading?