Assignment of Proceeds Under L/C
It is the continuous management of L/C opening/ amendment which is not transferrable L/C. This service allows customers or exporters / beneficiary as stipulated on the L/C to transfer the right of payment by L/C to transferee or manufacturer.
The right to transfer payment by L/C is the transfer of payment as indicated on L/C, not the L/C itself (since L/C is not transferable), which is another way for manufacturers or distributors to pay for their products. This way, exporters need not to open Back to Back L/C or D.L/C for the manufacturers.
The transferors (customers / beneficiary by L/C) who transfer the right to payment by L/C have to notify the bank the transferred amount. After such payment according to the L/C document is complete, we will pay the amount stated in the L/C to the transferees.
Type of Service
A service provides customers the fast and convenient for making a payment by Transferable L/C without Back to Back L/C or D.L/C when ordering products from manufacturer.
The right to transfer L/C payment can be transfer partially or as a whole
To provide convenience for customers (exporters / beneficiary indicated by L/C), whose L/C is not stated as “Transferable”, to transfer the L/C to the transferee without having L/C amendment or opening from the transferor
- Being international exporters who agree to use L/C payment
- Being beneficiaries by L/C with or without being the bank customers
Service Terms / Conditions
- Transferor (beneficiary by L/C) submit document / Notice of Assignment along with the original L/C and relevant documents indicated the amount to be transferred
- This service is only for L/C assignment. Customers need not to follow L/C terms and conditions
- Submit L/C to the bank
- The bank will pay the transferee the amount indicated after buying L/C or receiving the L/C payment from transferor
- The transaction will be completed within 24 hours since the receiving of the application form
- Notice of Assignment
- Original L/C with L/C Advising Advice
For any inquiries, please contact Call Center Trade Finance Service Tel. 0-2208-3777
For more information, please contact