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The Letter of Credit Transferable is a vital financial instrument used in international trade transactions where intermediary traders are involved. This document type is particularly relevant in the South African context, where it must comply with both the international Uniform Customs and Practice for Documentary Credits (UCP 600) and local South African banking and exchange control regulations. It enables the first beneficiary (typically a middleman or trader) to transfer their rights under the letter of credit to one or more second beneficiaries (usually the actual suppliers of goods). The document includes crucial details about the credit amount, transfer conditions, documentation requirements, and validity periods. It's especially useful in transactions where the original beneficiary acts as an intermediary and needs to pay their supplier using the same letter of credit received from the end buyer's bank. The transferable nature of this letter of credit facilitates complex international trade transactions while maintaining the security and payment assurance that letters of credit are known for.

1. Issuing Bank Details: Full name, address, and reference number of the issuing bank

2. Date and Place of Issue: The date and location where the letter of credit is issued

3. Letter of Credit Number: Unique identification number for the credit

4. Beneficiary Details: Full name and address of the first beneficiary

5. Applicant Details: Full name and address of the applicant (buyer)

6. Transfer Terms: Explicit statement that the credit is transferable and conditions for transfer

7. Amount and Currency: Maximum credit amount and currency specification

8. Validity and Expiry: Validity period and expiry date of the credit

9. Documentation Requirements: List of required documents for credit utilization

10. Shipment Terms: Details of shipment including latest shipment date and partial shipments if allowed

11. Payment Terms: Specification of payment terms including sight, deferred payment, or acceptance

12. Transfer Conditions: Specific conditions under which the credit may be transferred to second beneficiaries

13. Governing Law and Jurisdiction: Reference to South African law and UCP 600