transferable letter of credit

transferable letter of credit

A letter of credit that authorizes the beneficiary to assign the right to draw under it. [Cases: Banks and Banking 191.10. C.J.S. Bills and Notes; Letters of Credit ¡ì¡ì 341¨C366, 368¨C370, 372¨C376.]
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Carl, Chinese legal translator, specializes in translating legal documents pertaining to complex business disputes.