5．根据运用方式的不同，分为可转让信用证、不可转让信用证和循环信用证。 可转让信用证(Transferable l／C)指开证行开立的写明“可转让”字样、受益人可以全部或部分转让给第二受益人的信用证。
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可转让信用证（Transferable Credit）是指信用证的受益人要求授权付款、承担延期付款的责任、承兑或议付的银行，将信用证全部或部分转让给一个或数个受益人的信用证。
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... negotiable instrument可转让票据；可流转票据 negotiable letter of credit可转让信用证；流通信用证 negotiable paper可流转的票据 ...
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不可转让信用证 unassignable letter of credit ; non-negotiable letter of credit ; non-transferable letter of credit
可转让信用证- ASSIGNABLE LETTER OF CREDIT
不可转让信用证- UNASSIGNABLE LETTER OF CREDIT
可转让信用证的受益人 beneficiary of a transferable credit
可转让的信用证 assignable credit ; Assignable Letter Of Credit ; transferable letter of credit
可转让跟单信用证 Transfer Letter of Credit ; transferable documentary credit
不可转让的信用证 [金融] unassignable letter of credit
不可撤销的转让信用证 Irrevocable transferable documentary credit
可转让分割信用证 transferable and divisible credit
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可以用第一受益人的名称替换可转让信用证中申请人的名称。
The name of the first beneficiary may be substituted for that of the applicant in the credit.
因此，在大多数情况下，开证行在其可转让信用证中修改或排除第38条(k)款是不合适的。
It therefore follows that it will, in most cases, be inappropriate for an issuing bank to modify or exclude sub-article 38 (k) in its transferable credit.
第38条（d）款中的规则反映了有关可转让信用证的普遍立场，即可转让信用证只可以转让一次。
The rule in sub-article 38 (d) reflects the standard position in relation to transferable credits i. e. , that it may be transferred once only.
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