An LC Partial Transferring Form transfers a portion of the funds/credit from a transferable and divisible Master Letter of Credit (LC) to multiple beneficiaries. When the main beneficiary (Supplier / Main Contractor) of an LC needs to share the payment with multiple parties (Vendors or Sub-contractors), they can request the issuing bank partial transfer(s) of the LC amount to each second beneficiary.

The LC Partial Transferring Form specifies the details of the partial transfer, including the amount to be transferred, the names and details of the new beneficiaries, and any terms or conditions associated with the transfer(imposing the main L/C’s condition). This form facilitates the division of funds among multiple parties while ensuring compliance with the terms of the Master LC.

A Proforma Invoice or approved quotation of the second beneficiary (an original preferably) shall be attached to this form.