Hi, if a transferring L/C available with bank A negotiation, is it possible to authorize bank B as a transferring bank?
vivian
tks
transfering bank
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vivian
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transfering bank
Article 38 b of UCP600 states as follows: -vivian wrote:Hi, if a transferring L/C available with bank A negotiation, is it possible to authorize bank B as a transferring bank?
vivian
tks
Transferring bank means a nominated bank that transfers the credit or, in a credit available with any bank, a bank that is specifically authorised by the issuing bank to transfer and that transfers the credit. An issuing bank may be a transferring bank.
My view:
If the credit mentions nominated bank, only that nominated bank should be the transferring bank.
More comment appreciable.