A Back-to-Back Letter of Credit - acts as an alternative to a Transferable Letter of Credit.
It provides the mediators/first beneficiary/exporter the right to use the original Letter
of Credit as a security in favor of the supplier, i.e., the secondary beneficiary.
Transferable Letter of Credit - it also acts as a credit document but is slightly different.
Here the mediators / first beneficiary/exporter request the buyer to issue a Transferable
Letter of Credit so that he can endorse it further to the supplier of the material,
i.e., the secondary beneficiary.