Transferable LC

[rajeshs]

Dear All,
Seek your kind opinion to the below

LC is transferable
lc value USD10,000
partial shipment allowed
lc does not state unit price or quantity of goods
lc trasngferred in full to 2nd bene
first bene retains the right to advising of amendments to the 2nd bene

question
1.upon receipt of document for usd 3000 from 2nd bene can 1st bene add profit margin and
present invoice and bill of exchange for usd4000 and send to the Issuing bank?
2. in case of receipt of amendment from ISB for reduction of master lc value , is
1st bene / transferring bank obliged to seek 2nd benes consent considering the fact that
first bene has retained the right to advising of amendments to the 2nd bene
Kindly advice,
Thanks

[picant]

Hi Pal,

first query: No I understand that the l/c has been transferred in full, so no margin for first beneficiary
Second one: no, the amendment advising is under first beneficiary authorization.
Other comments appreciated
Ciao