This business sector is used to carry out the negotiation process on an Export L/C opened as 'transferable'. This negotiation enables the amount of the L/C to be transfered - in part or in full - to a second beneficiary. It is also possible for the first beneficiary to exchange his invoices and drafts (if available) against those of the second beneficiary. All the transactions relating to this negotiation are carried out in full in this 'Transfers' business sector. As soon as a transfer is carried out in an Export L/C, the amount of the transfer is deducted from the total amount available in the Export L/C (main contract). The transfer (LT) remains tied to the main contract (LE), so that the details of the transfer cannot be amended should they lead to details of the main contracts being exceeded.
The MyModelbank contains several contracts at various stages of processing which provide examples of the contingent variations. The relevant transactions have then been processed in full to illustrate the methods of working with the application. The list of contracts and processed transactions can be found in the chapter 'Contracts and Transactions'. These examples have been written with the standard version of the application. Due to the fact that customer-specific adjustments may have been carried out, real results can vary from those provided by the MyModelbank.
The different ways of working with the individual transactions are described in the user documentation of the application.