循环信用证(revolving credit).ppt

Transferable L/C 可转让信用证 According to UCP600 Article 38, a transferable credit means a credit that specifically states it is “transferable”. A transferable credit may be made available in whole or in part to another beneficiary (“second beneficiary”) or several other beneficiaries at the request of the beneficiary (“first beneficiary”). CASE A公司 出口商 B公司 中间商 C公司 进口商 C公司开出信用证给B公司，B公司将该证转让给A公司。原证中有两个条款1.full set of clean B/L made out to order with blank endorsed and notify applicant. 2.the name of applicant must be appeared in inspection certificate of the health as the consignee . Question: 转开信用证中这两个条款要如何修改？ 1.full set of clean B/L made out to order with blank endorsed and notify C company. 2.the name of C company must be appeared in inspection certificate of the health as the consignee Answer Once the letter of credit is received by the middleman from the opening bank, that letter of credit is used as security to establish a second letter of credit drawn on the exporter in favor of his supplier. So a back-to-back documentary credit process actually involves two separate documentary credits: one opened by the buyer in favor of the middleman, and one opened for the account of the middleman naming the actual supplier of the goods as the beneficiary. 对背信用证(Back to Back Credit) 对开信用证(reciprocal credit) A reciprocal credit is mostly used in a barter trade, a trade of processing of incoming materials, a counter trade, or a compensation trade. In the above types of trade, there are usually two transactions and letters of credit involved. The applicant of one credit(the original credit)may assume the position of the beneficiary of the other credit(the reciprocal credit), and the beneficiary of the first credit is the applicant of the second credit. 循环信用证(revolving credit) The amount of the credit can be renewed or reinstated without specific amendments to the credit. Revolving around time 按时间循环 “This is a monthly revolving credit which is available for up to the amo