Product Name

Transferring L/C

Description

Transferring L/C services are provided by Bank of China Limited Macau Branch. Customer (transferor) receives a transferable documentary credit and upon customer request, the documentary credit is transferred by us to the second beneficiary (transferee). The transfer may be partial or for the full amount of the documentary credit.

Features

1. The documentary credit must state that it is transferable and also nominating us as the advising bank;

2. The transferable documentary credit is suitable for customer who is acting as the middleman in a trade deal between the end-buyer and the ultimate supplier;

3. The documentary credit can only be transferred in its original terms and conditions except for amount, unit price, shipment date, presentation period and expiry date;

4. No credit facility is required for transferring a documentary credit. It is less costly to transfer a documentary credit as compared to issuing a new documentary credit.

Target Customers

Intermediate trader