Capital One Confidential Page 2 of 2
TRANSFER APPLICATION
We undertake to deliver to you, on first demand, our own drafts and invoices, which you are
authorized to substitute for those presented by or on behalf of the transferee, it being understood
that you will remit to us in settlement of our drafts the difference between the amounts thereof and
the amounts of the transferee’s drafts, provided that you have honored the transferee’s drafts and
also provided that our drafts and invoices conform with the conditions of the credit issued in our
favor.
If, for any reason, you should not receive proper drafts and invoices from us on first demand, we
acknowledge your right to forward the documents attached to the transferee’s drafts to the party for
whose account the credit was issued (or intermediary) and we shall have no claim against you for
any monies which otherwise would have been payable to us had our drafts and invoices been
presented to you prior to or simultaneously with the presentation or the transferee’s drafts and
documents.
In the event the Letter of Credit is not payable at your counters and if the documents are sent
directly to the issuing bank without presentation through yourselves, we hereby agree to indemnify
and hold you harmless from all demands, claims, liabilities, action and expenses and that we shall
have no claim against you for any monies which otherwise would have been payable to us had our
drafts and invoices been presented to you in substitution of the transferee’s drafts and invoices.
It is understood that any amendments to the letter of credit which you may receive are to be
handled as indicated below. It is further understood that you may advise the second
beneficiary(ies) accordingly.
Please note we retain the right to consent or to refuse to allow you, the transferring bank, to
advise amendments to the second beneficiary(ies).
Please note that we allow you, the transferring bank, to automatically and unilaterally advise
amendments to the second beneficiary(ies).
Kindly notify the transferee via courier or telecommunications of the terms and conditions of the
credit as transferred and after noting the transfer on the original instrument which we are forwarding
to you herewith, return it to us together with a copy of your notification to the transferee.
We enclose our check for ________ representing your commission (1/4 of 1%,
minimum $200.00 of the amount of the transferred) and in addition we agree to pay you on demand
any expenses that may be incurred by you in connection with this transfer (telecommunication,
postage, courier).
We warrant that this transfer is not in violation of US Foreign Assets Control or Cuban Assets
Control regulations.
We understand that this transfer is subject to the Uniform Customs and Practices for Documentary
Credit, International Chamber of Commerce Publication currently in effect.
Very truly yours, The signature with title as stated conforms with
that on file with us and is authorized for the
execution of such instruments.
Beneficiary Company Name Bank Name
Beneficiary Contact Name Bank Contact Name
Beneficiary Authorized Signature & Date Bank Authorized Signature & Date
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