Can a UPAS (Usance Payable at Sight) LC be transferred to second beneficiary?

abdulawal · Post by **abdulawal** » Thu Jun 22, 2017 12:28 pm

Dear Experts,

I have a situation like this:
Issuing Bank > issues an LC to Bank-A [UPAS provider] who has the "credit available with" under clause 41A. And authorized to transfer Bank-B.
I need the Bank-B to transfer the LC to first beneficiary. Can Bank-B do this transfer?

Q-1: Is it necessary for Bank-B to have "Credit Available with"?
Q-2: If the Credit is made available with Bank-B, will the Bank-A still be able to provide UPAS facility?

Thanks in advance.
Regards, Awal