h- Transfer and Assignment
Transfer of Drawing Rights:…
The Beneficiary of a Standby may request that an Issuer or nominated person honor…
A Standby is not transferable unless it clearly states that it is transferable…
Under both ISP and UCP drawing right under a Standby may be transferred more than…
A person can also be a transferee by operation of law such as liquidation, death…
Assignment of Proceeds:…
The Beneficiary of a Standby may ask the Issuer to acknowledge the Beneficiary’s…
Transfer and assignment are different from each other. An assignee is only entitled…
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