The-definition.com

Definition

Transferable Credit

Transferable Credit is a documentary credit under which the bank called upon to effect payment or acceptance, or to any bank entitled to effect negotiation, makes the credit available in whole or in part to one or more third parties (second beneficiaries).

Share it:  Cite

More from this Section

  • Usance Draft
    Usance Draft is term draft, a written demand for payment which comes due at a specified ...
  • Bridge Loan
    Bridge Loan is temporary finance provided to a project until long-term arrangements are ...
  • International Transaction
    The export of merchandise goods such as trucks, machinery, computers, telecommunications ...
  • Product cycle theory
    Product cycle theory refers to a theory suggesting that a firm initially establish itself ...
  • Target zones
    Target zones— implicit boundaries established by central banks on exchange rates. ...