Although UCP 600 and ISBP 745 offer no specific provisions for partial confirmations of letters of credit (LCs), MonetaGo’s Tat Yeen Yap says they are not only possible, but are “straightforward and efficient”.
Having an understanding of the types of LC availability, and the differences between them, will help the beneficiary formulate the terms of the letters of credit that it would be willing to accept, and to mention such terms in their discussions and sales contracts with their clients.