Documentary credits in transit trade
A documentary credit is also an appropriate means of meeting the security
requirements of the various parties in transit operations or international trade.
In this context, UBS offers the following products:
Transferable credits/transfer. With a transferable credit, the middleman (= the first beneficiary) can instruct his bank to transfer the credit (= the original credit) to the end supplier/producer (= the second beneficiary) either in full or in part.
Back-to-back credits. A new - back-to-back - documentary credit is opened on the basis of an existing credit (= original credit) in favour of the end supplier/producer.
Assignment of proceeds under a documentary credit. Here, the beneficiary assigns all or some of the proceeds of the documentary credit, for instance to his supplier(s).
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