Transferable Letters of Credit
A Transferable Letter of Credit is generally used when the beneficiary of a Letter of Credit is not the actual supplier of the goods, but a mediator. A Transferable Letter of Credit is a regular Letter of Credit with an added provision that permits a designated bank to transfer the sum specified by the Letter of Credit to one or more of the official suppliers. This transfer is completed at the request of the original beneficiary of the Letter of Credit.
If you act as a purchasing agent for an overseas buyer, or source your imports through your agents in other countries, with a Transferable Letter of Credit you could save time and resources in the process.
If you have business contacts in different countries, facilitating two-way trade transactions between importers and exporters, then you may want to consider a Transferable Letter of Credit.
GBC International Trade specialists can customize your international trade transactions to suit your company's specifications.
As a liaison, you can generate earnings for managing the trade transactions between the importer and the exporter. In this capacity, you may do business on a larger scale as well, since the security provided by the Letter of Credit may be transferred to the actual supplier.
Through the entire process, GBCIB provides you with technical expertise and the necessary documents to facilitate your business transactions.
We have branches in California and Washington States to serve your financial needs.
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