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Export L/C Transfer
2021-10-19 14:44:39
KBank will transfer the right and benefit of the first beneficiary under the terms and conditions of a transferable L/C to the second beneficiary (supplier or manufacturer), as requested by the first beneficiary of the L/C, by transferring some or all of the available benefits and conditions under L/C which they received from their buyers to another party, thereby creating a secondary beneficiary.
However, the L/C shall not be transferred unless it indicates the word “Transferable”. The terms and conditions of the original L/C must be replicated exactly in L/C transfer with the exception of the following which may be reduced or shorten:
- LC amount
- Unit price of goods (if stated in the original L/C)
- Expiry date of the L/C
- Presentation period
- Latest shipment date or given period for shipment