Transferable and Non-Transferable Letter of Credit

 

Transferable and Non-Transferable Letter of Credit

 

Transferable and Non-Transferable Letter of CreditUnder transferable letter of credit, exporter can transfer the credit fully or partly to one or more parties. This is possible when the credit clearly states it is "transferable" (no other term is acceptable). In cases, when the product is to be fabricated by a third party, fully or partly, a portion of the credit is made transferable to the third party. Such transfer of credit must be informed to the issuing bank. It is used when the seller is a middleman who can transfer a part of the credit to the exporter for shipping the goods. When the credit is not transferable, it is non-transferable credit.

 

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How does a Running bond work?
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Transhipment - A redefinition        
Triangular shipment
Types of Insurance Documents
How does CENVAT Credit work?
Import General Manifest (IGM)
Importance of Bill of Lading
Is Airway bill a documents of title?
Is Customs House Agents (CHA ) required to be appointed mandatory?
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