Thanks for your valuable feedback to my opinion. For transferred letters of credit, the principle of how letters of credit operates remains the same as if they have not been transferred except some procedures which are designated for the middleman (first beneficiary) to draw for his portion of profi...

What does the disclaimer provide and how should the document checkers handle documents presented under a transferred documentary credit? When the draft of UCP 500 was circulated for national committees' comment, bankers anxiously expected a document that could remove the numerous problems encountere...