MT 720 OR MT 710 !!!

[Amiloyal]

Hello Experts
Please I need your help regarding my actual deal , I made a sale contract offer based on an offer from seller and add my profit to my contract , the contract value is 1 B in which I'm making around 100 M profit I asked buyer for transferable LC and he agreed So far so good right ?Here it comes !

Seller did not agree about an MT 720 and he need the LC to be confirmed by his bank and available for negotiation and payment in his bank as well in a word he doesn't agree to be second beneficiary and has no intention to pay back the difference !

My question here for you guys is there a way to save this deal somehow by notifying the LC and make it available and confirmed in/by seller bank or shall I dismiss the deal before going crazy ?

Someone told me that I may be able to deal directly with the issuer bank and have them send the LC straight to end seller and transferring the remaining balance with to your account each time they pay for the seller! Strange isn't it ? Minding that the LC is opened by first European class bank and going to middle east .

Thank you so much for all your help guys and sorry for taking so long.

[picant]

Hi Pal,

it is clear that a transferable credit represents the doubt that someone is getting money as commission,
that may be reasonable or huge. A transferable credit may be confirmed too and the confirming bank may express it on MT720. However to handle a transferable l/c you need experience and a bank that is able to find the correct way for you. So ask your bank for advice.
Ciao