- For Teachers
We cannot reach Peter since 02 Nov. He did not sign back the cancellation letter for current transferable LC (no. xxx) which caused we cannot draw the payment from your original LC. Would you please accept change the payment from LC to TT for these 1000 pcs air goods? Please confirm.
There is no problem transfer the LC to the factory in China. The transferee’s bank will advise to the transferor’s bank once the LC is received. We will also send them a copy once the LC is done. Please don’t worry. They have been received three sets transferable LC last week.
Thank you for your correct.
1. My meaning of sign back - consent and signature the letter then return back to the bank
2. The receiving bank will notify the bank of origin once the LC is received. (Unless 'transferee' and 'transferor' are commonly understood terms in your industry, in which case you should use them.) - Yes, it is better for your sugguestion as 'transferee' and 'transferor' is not commonly
3. LC and TT - They are payment terms
LC = Letter of credit : We need send the document to bank after
shipment, draw the money via bank from customer
TT = Telegraphic Transfer