Get the free TRANSFERABLE LETTER OF CREDIT-i (TLC-i)
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Product Name: LETTER OF CREDITi (LCi)PRODUCT DISCLOSURE SHEET (Please read this Product Disclosure Sheet before you decide to take the Maybank Islamic LETTER OF CREDITi (LCi). Be sure to also read
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How to fill out transferable letter of credit-i
How to fill out transferable letter of credit-i
01
Obtain the necessary information from the beneficiary including the name and address of the buyer, the amount of credit required, the expiry date, etc.
02
Draft the transferable letter of credit according to the guidelines set by the issuing bank.
03
Submit the transferable letter of credit to the issuing bank for approval.
04
Once approved, inform the beneficiary of the terms and conditions of the letter of credit.
05
Monitor the transaction to ensure that all parties comply with the terms of the letter of credit.
Who needs transferable letter of credit-i?
01
Importers and exporters who want to facilitate trade by allowing a third party to benefit from the letter of credit.
02
Companies involved in complex international transactions that require intermediaries to handle the logistics of the trade.
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What is transferable letter of credit-i?
A transferable letter of credit-i is a financial instrument that allows the original beneficiary to transfer their rights and obligations under the credit to a third party.
Who is required to file transferable letter of credit-i?
The original beneficiary of the transferable letter of credit-i is required to file it.
How to fill out transferable letter of credit-i?
To fill out a transferable letter of credit-i, the beneficiary must provide detailed information about the transaction, including details of the transfer, parties involved, and specify any required documentation.
What is the purpose of transferable letter of credit-i?
The purpose of a transferable letter of credit-i is to facilitate international trade by allowing the transfer of credit rights from one beneficiary to another, thereby simplifying transactions.
What information must be reported on transferable letter of credit-i?
Information that must be reported includes the original letter of credit number, names and addresses of the parties, terms of transfer, amount, and any applicable documents required for payment.
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