OBLIGATIONS AND LIABILITIES OF A TRANSFERRING BANK UNDER A TRANSFERRED LC QUESTION Dear Mr. Old Man, I’m trying to find a clause in UCP 600 or any related source showing that in transferable LC, transferring bank only settle the payment claim to second beneficiary upon their receipt of settlement from issuing bank. Could you give me advice for this case. Why don’t ICC translate the case to UCP? I urge you … Read More