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divisible LC
Posted: Tue Dec 25, 2018 11:13 am
by Banantrade97
Dears
I need some explanation about divisible LC
Re: divisible LC
Posted: Wed Dec 26, 2018 11:43 am
by picant
Hi Pal,
divisible l/c, is a transferable l/c admitting partial shipments.
So, first beneficiary may transfer portion of l/c to various second beneficiaries, that may ship partially.
Naturally the goods as originary required.
Other comments appreciated
Ciao
Re: divisible LC
Posted: Thu Jan 10, 2019 1:02 pm
by alaaebrahem
Dear,
Divisible letter of credit, The term is obsolete. It denoted a documentary credit that could be "split" in favour of more than one beneficiary. A LC can be transferred by the beneficiary (hereinafter "first beneficiary") to one or more "second beneficiaries", subject to the expressed clause in the original LC that the LC is "transferable".
Regards,
Alaa