additionally

The first beneficiary is the party in whose favor the original L/C was opened. It instructs the authorized bank to transfer the L/C.

The advising bank is the bank to which the transferred L/C is advised (for further advising to the 2nd beneficiary or their bank).

The reimbursing bank is one of the correspondence banks of the issuing bank. It has a direct account relationship with the issuing bank (stored in static data). Usually, the issuing bank has accounts with the reimbursing bank in foreign currencies, which can be specified when the L/C is opened for the issuing bank in a foreign currency. The bank at which counter the L/C is available can reimburse on the reimbursing bank at maturity.

If the advising bank is not the housebank of the 2nd beneficiary, a 2nd advising bank can be entered here.

The transferable L/C indicates where the L/C is available. This can be the transferring, the advising or a third bank.

The second beneficiary is the party in whose favor the original L/C has been transferred. The second beneficiary is the exporter of the goods (if not required differently in the L/C) and presents the documents required under the transfer.

In case of a bill transaction/draft this is the party, on whom the draft is to be drawn.

This party is not a party to the underlying foreign trade transaction.

This is required for internal operations of the application in order to secure the correct booking of liabilities, should the liability party be changed.

Other parties that cannot be entered in any other place can be specified as third parties in the application. Outgoing messages can be sent to these parties. Third parties can be entered on the panel “Parties” under “Additional Parties”.