Transferable Letter of Credit (MT700) — Multi-Supplier, Bank-Grade Protection
Use a single, Transferable LC to secure goods from multiple suppliers while maintaining margin control and a secure chain of payment. Issued under UCP 600 and routed over SWIFT.
UCP 600
SWIFT MT700 / MT720
Partial / Full Transfers
Global Bank Network
All transactions comply with ICC rules and are subject to KYC/AML, sanctions screening, and bank policy.
Required Documents for Transferable LC Issuance
- Proforma Invoice / Sales Contract — Defines transaction details & LC terms
- Commercial Invoice — Details the shipment and trade agreement
- Bill of Lading / Airway Bill — Confirms shipment dispatch and delivery
- Packing List — Itemized list of goods shipped
- Inspection Certificate — Ensures product compliance before payment
- Insurance Certificate — Required for high-value shipments
Good to know
- Transferability is designated by the issuing bank at issuance (UCP 600, Art. 38)
- Partial transfers allow multiple second beneficiaries
- Invoice substitution by the first beneficiary may be permitted per credit terms
Partner Banks & Financial Institutions for Transferable LC (MT700)
Below are 25 banks drawn from our network. Terms are indicative and depend on jurisdiction, due diligence and bank policy.
| Bank Name | SWIFT Code | Advantages | Disadvantages | Issuance Fees | Issuance Time | Min. Transaction | Region |
|---|---|---|---|---|---|---|---|
| Bank of China | BKCHCNBJ | Strong for China trade; secure routing | Less flexible on bespoke clauses | 0.5% – 7% | 2–6 days | $1M | Asia |
| Standard Chartered (Dubai) | SCBLAEAD | Cross-border & emerging markets | Longer compliance process | 0.5% – 7% | 2–6 days | $500K | Global |
| Exim Bank Tanzania | EXTNTZTZ | Regional strength; Africa corridors | May need manual follow-up | 0.5% – 7% | 2–6 days | $250K | Africa |
| MauBank (Mauritius) | MPCBMUMU | Offshore flexibility | Lower global visibility | 0.5% – 6% | 2–5 days | $250K | Offshore |
| ABC Banking Corporation | ABCKMUMU | SME-friendly structures | Niche recognition | 0.5% – 6% | 2–5 days | $250K | Offshore |
| Access Bank Kenya | ABNGKENA | East Africa trade flows | Limited global network | 0.5% – 7% | 2–5 days | $250K | Africa |
| Dashen Bank (Ethiopia) | DASHTEAA | Preferred for Ethiopia exports | Potential procedural delays | 0.5% – 7% | 3–6 days | $250K | Africa |
| Mauritius Commercial Bank | MCBLMUMU | Experienced LC desk | Offshore positioning | 0.5% – 6% | 2–5 days | $250K | Offshore |
| United Bank for Africa (Mozambique) | UNAFMZMA | Pan-African coverage | Varying regional ops | 0.5% – 7% | 3–6 days | $250K | Africa |
| Aktif Bank | CAYTTRIS | Flexible cross-border support | Case-by-case terms | 0.5% – 6% | 2–6 days | $250K | MEA |
| Standard Chartered (Hong Kong) | SCBLHKHHXXX | Asia hub; strong confirmations | Documentation-heavy | 0.5% – 6% | 2–5 days | $500K | Asia |
| DBS Bank (Hong Kong) | DHBKHKHHXXX | SE Asia expertise | Verbiage discipline | 1% – 4% | 2–5 days | $500K | Asia |
| CTBC Bank (Hong Kong) | CTCBHKHHXXX | Sight & usance options | Strict DLC language | 4% – 6% | 2–5 days | $500K | Asia |
| UCO Bank (Hong Kong) | UCBAHKHHXXX | Competitive mid-market | Conservative clauses | 4% – 8% | 2–5 days | $500K | Asia |
| Dah Sing Bank (Hong Kong) | DSBAHKHHXXX | Reliable DLC processing | DLC-focused policy | 5% – 6% | 2–5 days | $500K | Asia |
| HSBC (Hong Kong) | HSBCHKHH | Global corridors; ports/logistics | Strict wording control | 1% – 4% | 2–5 days | $1M | Global |
| China Construction Bank (Hong Kong) | CCBQHKAX | Stable processing capacity | Formal amendment path | 1% – 4% | 2–6 days | $750K | Asia |
| BNP Paribas (HK/EU) | BNPAHKHH | EU projects; confirmations | Premium fees in some corridors | 1% – 4% | 2–5 days | €1M | EU / Asia |
| Crédit Agricole CIB | AGRIMQMXXXX | Infrastructure & energy | Strict compliance cadence | 1% – 4% | 2–5 days | €1M | EU |
| Banca Nazionale del Lavoro | BNLIITRRALX | Italian/EU supply chains | Conservative transfer terms | 1% – 4% | 2–6 days | €750K | EU |
| Indian Bank | IDIBINBBXXX | India corridors | Fixed verbiage templates | 1% – 4% | 2–6 days | $500K | Asia |
| Indian Overseas Bank | IOBAHKHHXXX | Asia trade; usance terms | Documentation formality | 5% – 6% | 2–6 days | $500K | Asia |
| Asia Pacific Investment Bank | ASPMMYKLXXX | Structured issuance | Case-by-case acceptance | 1% – 4% | 2–6 days | $250K | Asia |
| PG Asia Investment Bank | AINEMY22 | Agile processing | Niche corridors | 1% – 4% | 2–6 days | $250K | Asia |
| Dushanbe City Bank | LCMDTJ22XXX | Regional trades | Longer verification path | 3% – 7% | 3–6 days | $250K | Central Asia |
Why Use a Transferable LC?
| 🔒 Feature | ✅ Benefit |
|---|---|
| Partial or Full Transfer Option | Flexibility for multiple suppliers |
| First Beneficiary Margin Control | Modify pricing and retain profit |
| No Need for Prepayment | Reduce upfront capital needs |
| Secure Chain of Payment | Payment against verified documents |
| UCP 600 Compliant | Legal protection and global recognition |
Our 5-Step LC Issuance Process
1) Submit Documents
- Invoice, contract, beneficiary details
2) Structuring & Draft
- We design LC with transfer clauses
3) Transfer Mechanism
- Approve full/partial transfer structure
4) Fees & SWIFT
- Secure fee path; SWIFT processing
5) Issuance & Enablement
- LC issued; transfers activated
Client voice: “We used a single LC to secure goods from 3 countries. NNRV handled the structure flawlessly.” — H. Traoré, Multi-Supplier Importer (West Africa)
Transferable LC vs Other Trade Instruments
| Instrument | Use Case | Transferability | Seller Protection |
|---|---|---|---|
| Transferable LC | Multi-supplier trades | ✅ Yes — partial/full | 🔒🔒🔒🔒 |
| Confirmed LC | Risky buyer or country | ❌ No | 🔒🔒🔒🔒🔒 |
| SBLC | Backup guarantee | ❌ No | 🔒🔒 |
| Bank Guarantee | Construction, lease, tenders | ❌ No | 🔒🔒🔒 |
Client Reviews (15)
Laura M. — Head of Procurement, EuroTextiles
★★★★★
Transferable LC let us onboard two new mills without cash strain. Clean execution.
Yusuf K. — COO, Bosporus Trade
★★★★★
Partial transfers across three suppliers worked exactly as drafted. Funds released on time.
Priya N. — CFO, AgriLink Exports
★★★★☆
Documentation was extensive but predictable. Pricing stayed within the indication.
Daniel H. — Logistics Director, Andean Foods
★★★★★
Invoice substitution gave us margin control. Highly recommended for intermediaries.
Amina S. — GM, Sahara Agro
★★★★★
Single LC secured multiple origins. Banks appreciated the clarity of terms.
George P. — Projects, Helios Infra
★★★★★
Transferability saved weeks of admin versus multiple credits.
Elodie M. — Finance, MedEuropa
★★★★★
UCP alignment and strong drafting passed compliance at first review.
Henry T. — Procurement, Nordic Rail
★★★★★
Scheduled transfers matched delivery waves perfectly.
Omar H. — Head of Legal, Oasis Group
★★★★★
Clarity around first/second beneficiary obligations avoided disputes.
Valeria C. — Treasury, LatAm Chem
★★★★☆
Timeline slipped one day for extra sanctions checks, but closing was seamless.
Hassan A. — Director, Gulf EPC
★★★★★
First beneficiary margin protection was a decisive advantage.
Sophia L. — Trader, Pacific Commodities
★★★★★
Bank choice was spot-on for our corridor. Draft approval was quick.
Ravi S. — Director, Indus Components
★★★★★
We executed partial transfers to two toolers with zero friction.
Ivy W. — CEO, Skyline Estates
★★★★★
NNRV coordinated with issuing and advising banks flawlessly.
Jun Park — MD, Apex Components
★★★★★
The most practical route for our multi-country sourcing this year.
Frequently Asked Questions (15)
What makes an LC “transferable”?
The issuing bank designates the credit as transferable at issuance, allowing the first beneficiary to request a transfer to one or more second beneficiaries per UCP 600 Article 38.
Can a transferable LC be transferred more than once?
No, typically only once. However, it may be transferred to multiple second beneficiaries in part.
Can the LC terms change during transfer?
Certain terms can be reduced (amount, unit price, expiry, latest shipment, presentation period). Core conditions generally remain intact.
Is invoice substitution allowed?
Often yes, the first beneficiary may substitute its invoice (and draft if applicable) in place of the second beneficiary’s, if permitted by the LC.
Do all banks issue transferable LCs?
No. Acceptance depends on the bank’s policy and the underlying transaction. We match your file to receptive issuers.
Can I combine confirmed and transferable features?
Yes. A transferable LC can be confirmed by another bank, adding payment assurance for beneficiaries.
What are typical fees?
Indicatively 0.5%–7% depending on bank, risk, tenor, and complexity. Confirmations and amendments incur additional charges.
How fast is issuance?
With complete documents and agreed verbiage, drafts in 24–72h and issuance in ~2–6 business days are common.
Can the LC be partially transferred?
Yes. Amounts can be allocated across multiple second beneficiaries based on supply needs.
Who pays the charges?
Charges may be allocated per LC instructions (SWIFT field 71B). We align cost sharing with your structure.
Which law applies?
UCP 600 governs presentation and examination; local law may apply to contractual matters.
What due diligence is required?
Standard KYC/AML, sanctions screening, and verification of commercial documentation and supply chain integrity.
Can transferable LCs be used for services?
Primarily for goods and documentary trade; some service scenarios are possible where documents can evidence performance.
How are discrepancies handled?
The advising or nominated bank examines documents. Discrepancies may be waived by the applicant or corrected and re-presented.
Do you support MT720 for transfer advice?
Yes. Transfer advice via MT720 can be coordinated with the advising/transfer bank as applicable.
Ready to structure your Transferable LC?
Email the Structuring Desk
Send your contract, supplier list, delivery windows, and preferred transfer design.
Start by EmailDocument Checklist
- Contract & PI
- Supplier roster & split
- Draft clauses for transfer
Speak to Us
Prefer secure messaging? We can open a data room for draft review and KYC.
WhatsApp the TeamNNRV Trade Partners reserves the right to refuse service where compliance risks are present. All engagements subject to final bank approval.