Partial Confirmation For Transferable DC

vjaikarthik · Post by **vjaikarthik** » Tue Jan 06, 2015 6:58 pm

Greeting to All..

Can partial confirmation be done for a transferable DC. If yes, how will the partial confirmation apply for the transferred LC.

E.g.

In case Bank A has issued a transferable LC on behalf of applicant for USD 10,000 with confirmation instructions as MAY ADD. Bank B has advised the LC to beneficiary and confirming the LC for a partial amt. of USD 7,500 and transferred the LC to 3 second beneficiaries X, Y and Z for USD. 3,000, USD. 4000 and USD. 2500.

In this case how will partial confirmation apply for transferred LC?

picant · Post by **picant** » Wed Jan 07, 2015 1:05 am

Hi Pal,

By using Swift MT720 I will tranfer the a.m. amounts and in field 40b state adding our confirmation. The balance USD 2500 will remain unconfirmed and even not transferred, except particular instructions,
IMHO it is not possible to confirm the 75% of the transferred amounts.
Other comments appreciated
Ciao