What is TRANSFERABLE LETTER OF CREDIT (L/C)?

L/C that is irrevocable with 2 successive beneficiaries. See back to back L/C.

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Related Legal Terms
TRANSFERABLE LETTER OF CREDIT, LETTER OF CREDIT, LETTER OF CREDIT (L/C), ACCEPTANCE LETTER OF CREDIT (L/C), CLEAN LETTER OF CREDIT (L/C), COMMERCIAL LETTER OF CREDIT, DIRECT PAY LETTER OF CREDIT, EVERGREEN LETTER OF CREDIT, GUILLOTINE LETTER OF CREDIT, UNRESTRICTED LETTER OF CREDIT


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