If a Bank receives a Transferable L/C IFO one of its clients is it under any obligation to transfer that L/C onwards?
Comments Please.
Regards
Peter
Transferable Credit
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KimChristensen
- Posts: 404
- Joined: Fri Apr 05, 2019 5:21 pm
Transferable Credit
UCP 600 sub article 38(a):
A bank is under no obligation to transfer a credit except to the extent and in the manner expressly consented to by that bank
Best regards
Kim
A bank is under no obligation to transfer a credit except to the extent and in the manner expressly consented to by that bank
Best regards
Kim