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What is Transferable Letter of Credit?

Export – Import Procedures and Documentation

What is Transferable Letter of Credit?

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Transferable Letter of Credit
 
 
A transferable letter of credit is one in which the exporter has the right to request the paying, or negotiating bank to make either part, or all, of the credit value available to one or more third parties. This type of credit is useful for those acting as middlemen especially where there is a need to finance purchases from third party suppliers.
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