Hi, I have 2 questions regarding transferable LC's:
1) If I receive a transferable LC, can I add more documents required to clause 46A when I transfer it to my supplier?
2) Can I change the place of expiry?
Thank-you.
Rgds
Graham
Transferable LC
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futuremobile
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picant
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Re: Transferable LC
Hi Pal,
the transferring bank may allowed presentation of some documents by the second beneficiary if this action does not alter the l/c risk. I think that a 100% transfer may change the place of expiry and documents may be presented by the second beneficiary's bank directly to issuing bank(art 38 k).
Other comments appreciated
Ciao
the transferring bank may allowed presentation of some documents by the second beneficiary if this action does not alter the l/c risk. I think that a 100% transfer may change the place of expiry and documents may be presented by the second beneficiary's bank directly to issuing bank(art 38 k).
Other comments appreciated
Ciao
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cristiand969
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Re: Transferable LC
The requirement of presentation of other documents than provided by original L/C may alter the undertaking of transferring bank which may be held liable before second beneficiary for not respecting art.38 g. In what manner such additional documents are to be handled between transferring bank and issuing bank since, until the honoring the presentation, the documents are the (second) beneficiary's property?