Document background
The Transferable LC At Sight is a crucial trade finance instrument in the Philippines, designed to facilitate complex international trade transactions involving multiple parties. It combines the security of a traditional letter of credit with the flexibility of transferability, allowing the first beneficiary to transfer their rights to second beneficiaries. This document is particularly valuable when dealing with intermediary traders who may not have the goods themselves but can source them from suppliers. The instrument is governed by Philippine banking regulations, particularly the General Banking Law of 2000 and BSP regulations, while also conforming to international standards like UCP 600. It provides for immediate payment upon presentation of compliant documents, making it an efficient tool for managing cash flow in international trade transactions. The transferability feature makes it especially useful in back-to-back trading arrangements and supply chain financing.
%20(1).jpg)
