CAN THE TRANSFERRING BANK REFUSE DISCREPANT DOCUMENTS PRESENTED BY THE SECOND BENEFICIARY? Mr. Old Man answers a student’s question on transferable L/C practice Transferable credits often create tricky situations – especially when documents are presented by a second beneficiary under a transferred LC. Recently, a student wrote to Mr. Old Man about a practical scenario involving discrepancies in the second beneficiary’s presentation and the role of the transferring bank. Below is the … Read More