a transferable can keep a secret about final buyer ?
Posted: Sun Apr 07, 2019 8:50 pm
I have some question which need to be clarified as below:
1. If a transferable L/C is available by negotiation/honor with any bank, It also indicate a named bank as a confirming bank. So, this confirming bank can effect transfer this L/C?
2. If a transferable L/C is available by negotiation/honor with XXX bank, It also indicate a YYY bank as a confirming bank. So, XXX bank or YYY bank can effect transfer this L/C?
3. If transferable L/C require the presented B/L showing notify party: applicant, should the transfering bank transfer this L/C or it only transfer untill this condition has been removed?
If the transfering bank effect transfer a L/C like this, it seem that the first and second beneficiary can not make a presentation to met the condition of transferable L/C? That's right?
4. By using a transferable L/C, do you think that it can ensure absolutely that the final buyer and the second beneficiary can not know each other's existence? If not, why does the first beneficiary still use this kind of L/C?
5. The transfering bank will check the second's presented documents against transferred L/C or transferable L/C?
6. I'm referring a partial of article 38 (j):
"......This is without prejudice to the right of the first beneficiary in accordance with sub-article 38 (h)".
If art 38 (j) do not have this sentence, how will the right of the first beneficiary be affected when art 38 (j) has been applied?
1. If a transferable L/C is available by negotiation/honor with any bank, It also indicate a named bank as a confirming bank. So, this confirming bank can effect transfer this L/C?
2. If a transferable L/C is available by negotiation/honor with XXX bank, It also indicate a YYY bank as a confirming bank. So, XXX bank or YYY bank can effect transfer this L/C?
3. If transferable L/C require the presented B/L showing notify party: applicant, should the transfering bank transfer this L/C or it only transfer untill this condition has been removed?
If the transfering bank effect transfer a L/C like this, it seem that the first and second beneficiary can not make a presentation to met the condition of transferable L/C? That's right?
4. By using a transferable L/C, do you think that it can ensure absolutely that the final buyer and the second beneficiary can not know each other's existence? If not, why does the first beneficiary still use this kind of L/C?
5. The transfering bank will check the second's presented documents against transferred L/C or transferable L/C?
6. I'm referring a partial of article 38 (j):
"......This is without prejudice to the right of the first beneficiary in accordance with sub-article 38 (h)".
If art 38 (j) do not have this sentence, how will the right of the first beneficiary be affected when art 38 (j) has been applied?