Has anybody managed to use a transferable letter of credit?
I am interested to understand if people buying through a broker have managed to get a transferable letter of credit opened by a top 50 world bank!
Answers:
No I havent, but used to work at a Bank and would recommend you speak to yours.
They can give you advice and you can then go where ever you choose.
nope
American Express invented travellers cheques because of the hassle of getting cash off letters of credit. Unless the amount is several thousand and business-t-business, you are likely to get into a hassle with it.
No. The Letters of Credit that I've dealt with have always been non-transferable, and typically only good for one year unless there was an evergreen clause.
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Answers:
No I havent, but used to work at a Bank and would recommend you speak to yours.
They can give you advice and you can then go where ever you choose.
nope
American Express invented travellers cheques because of the hassle of getting cash off letters of credit. Unless the amount is several thousand and business-t-business, you are likely to get into a hassle with it.
No. The Letters of Credit that I've dealt with have always been non-transferable, and typically only good for one year unless there was an evergreen clause.
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