A Transferable Letter of Credit allows the beneficiary to pass on the benefit of a Letter of Credit to one or more third parties. Normally used by companies that source rather than produce goods.
Transhipment
This is when a consignment is unloaded from one form of transport (lorry or ship) to another during the course of its journey from place of origin to place of destination. In a letter of credit, the buyer can say whether this is allowed or not allowed.
