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    Can an LC be transferred at the request of the 2nd beneficiary to a subsequent (3rd) beneficiary?

    Question:
    Can an LC be transferred at the request of the 2nd beneficiary to a subsequent (3rd) beneficiary?
    Answer:
    According to ICC, UCP 600 sub-article 38 d. it cannot be effected, but as per
    sub-article 1 the ICC rules can be modified. However, it is not recommended as it increases the operational risks. Most banks will disapprove of a request for transfer to a 3rd beneficiary.
    This article was originally published in forum thread: Transferable LCs started by Susann Lindqvist View original post
     

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