AIB Tradefinance - Glossary of Terms Sun, 26 May 2013
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Transferable Letter of Credit
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.

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