可转让信用证是指根据信用证，受益人（第一受益人）可以要求授权进行支付，延期付款，承兑或议付的银行（转让行）或者是在自由议付信用证的情况下，在信用证中特别授权的转让行将该跟单信用证全部或者部分转让给一个或多个其他受益人（第二受益人）使用。
简言之，根据UCP600第三十八条的规定，转让信用证意指明确表明其“可以转让”的信用证。
根据受益人（“第一受益人”）的请求，转让信用证具有如下特点：
信用证的可转让性，基于信用证的规定；信用证的转让来自受益人的请求而发生；转让行只能在授权的情况下；
信用证的转让方式可以是部分转让或全部转让；信用证的转让以一次为限。在转让过程中，会出现以下一些文句或词语的表述：
如：This Credit is Transferable.（本信用证为可转让）
或者使用 Transfer to be allowed 文句，以示其功能。
Only Bank of China, Shanghai is allowed to effect transfer of the present documentary credit.
只允许中国银行上海分行转让本跟单信用证。
Transferring bank is the Industrial and Commercial Bank of China. Zhenjiang Branch,
转让行为中国工商银行镇江分行。
L/C is transferable by any bank in China.
本信用证由中国任何一家银行实施转让。
The advising bank is nominated as the transferring bank
通知行被指定为转让行。
转让可分为原条件转让和变更条件转让。
一：原条件转让意味着原信用证条件不变。
二：变更条件转让则意味着信用证转让后，原信用证所列条件已做变更，比如金额和单价比原来金额和单价降低等。
原条件转让的条文表述如下：
This credit can be transferred only on the terms and conditions stipulated in the original credit.
本信用证只能依据原信用证所规定的条件转让。
转让地点可分为国内转让和国外转让，本条文表述为国内转让，即第一受益人将信用证的使用权转让给第二受益人，其地点系同一国境，称为国内转让。
如给内转让：This credit is transferable in the country of the beneficiary by the advising bank.
本信用证由通知行在受益人所在国家转让。
如国外转让：This credit is transferable to a second beneficiary in the Republic of Korea.
本信用证转让于韩国的第二受益人。
本条文表述为转让地点为国外转让。即第一受益人将信用证使用权转让给另一个国境的第二受益人，称为国外转让。
下面以瑞士开来的可转让跟单信用证实例来讲解：
这是电开信用证，没有SWIFT信用证的明显格式条文，但也有信用证常用的非完整句。
TO: Bank of China Lianyungang Branch Lianyungang China.
中国银行连云港分行（中国连云港）
FROM: Credit LYONNAIS (SUISSE) S.A. GENEVE
来自：LYONNAIS (SUISSE) S.A. GENEVE的信用证
TELE NUMBER: 422449 CLG CH ONLY.
电传号码：422449 CLG CH ONLY
FAX:NUMBER: (22) 321 43 31
传真号码： (22) 321 43 31
DATE: GENEVE 28 APR.2016
2016年4月28人日内瓦
REFRENCE: CREDOC/DR 34307
编号：CREDOC/DR 34307
FOR: USD/172000.00
金额：172000美元
ATTN TO YOUR Export L/C Deparment.
致你行出口信用证部
We hereby open our irrevocable and transferable documentary credit No.50/940428 IM35 by order and for account of M/S HUYTON INC. LONDON
我行奉伦敦M/S HUYTON 公司之命并记入其账户兹在此开立不可撤销，可转让跟单信用证 （号码为：50/940428 IM35），
注：M/S HUYTON INC. LONDON 开证申请人：
in favour of Jiangsu XXX international trade corparation foreign trade building East Hailian Roa Lianyungang, Jiansu China for an amount of USD172000.(one hundred and seventy two thousand US dollars)
受益人为江苏XXX国际贸易公司（中国江苏连云港海联东路外贸大厦），金额为17万2千美元，
10 PCT more and less valid in China until 21st June for presentation of documents only, available by payment at sight with ourselves in Geneva against presentation of following shipping documents:
10%增减，在中国有效期至6月21日，仅凭提示如下装船单证在我日内瓦银行办理即期付款。
注：10 PCT more and less ：信用证金额上下浮动允许的最大范围，
(A) Sellers commercial invoice in duplicate.
卖方商业发票一式两份。
(B) Full set 3/3 original clean on board ocean bills of lading made out to order and blank endorsed marked freight payable as per charter party's plus two non-negotiable copies
全套3/3正本清洁已装船海运提单，做成“凭指示”，空白背书，注明“依据租船合同运费到付”，外加不可议付提单副本两份
（注：FULL SET 3/3：全套。过去习惯把3份正本视为一套。现在一份正本也可视为全套。
注：freight payable：运费到付。一般来说，在FOB运输条件下，由于由买方租船订舱，所以，一般来说，信用证均要求提单上注明：“运费到付”字样。但也有个别信用证要求受益人在提单上加注“运费预付”字样，同时声明运费部分在受益人和申请人之间在信用证金额之外解决。
注：charter party:租船合同
注：COPY:副本。信用证中的副本通常使用如下词语表达：COPY, NON-NEGOTIABLE, N/N, BLANK-BACK B/L, SOFT COPY 等）
notify party to remian blank bills of lading to be signed by the master of the vessel and master's signature to be accompanied by master's official stamp
通知方一栏留空，提单须由船长签署，船长签字须随附船长官印，
（注：remian blank ：留空，即为：字词/注释等文字不要出现在通知方一栏中。或者说，通知方一栏中不等出现任何子词。）
or to be signed by agents on behalf od the master in which case mater's written authority authorizing agents to sign B/L on his behalf to accompany shipping documents, Such letter tobe stamped and signed by the master.
（提单也）可由代理代表船长签署，在此情况下，船长授权代理人代其签署提单的授权书须随同运输单证一起提交。本授权书须由船长签署并加盖印章。
(C) Certificate of origin issued by CIQ in one original and two copies certifying that origin of the goods is CHINA . Original only to be legalized by the Egyptian consulate/ embassy in China.
产地证由中国出入境检验检疫局CIQ出具，正本一份副本两份，证实货物的原产地为中国。正本须由埃及驻中国使领馆认证。
(D)Inspection certificate of weight issued by CIQ in one original and two copies cerfitfying the gross weight, that net weight, the tare weight and the number of bags loaded at time of loading.
重量检验证书由中国出入境检验检疫局(CIQ)出具，正本一份副本两份，证实毛重，净重，皮重及装运时所装袋件数。
注：Inspection certificate of weight：重量检验证书
(E) Inspection certificate of quality issued by CIQ in one original and two copies certifying at time and place of shipment that goods are Chinese broad beans Gansu orign FAQ crop 2015 in sound good condition and are fit for HUMAN consumption.
品质检验证书由中国出入境检验检疫局 (CIQ)出具，正本一份副本两份，证实装运时间和地点，货物为中国甘肃蚕豆，良好平均品质，2015年产，状况良好，适于人食用。
注： Inspection certificate of quality ：品质检验证书。
Certificate also to state analysis results for admixture content in percentage and moisture in percentage and purity in percentage.
证书也需说明如下分析结果：杂质含量的百分比，水分含量的的百分比及纯度的百分比。
Certificate also to state that broad beans are free from foreign maters: castor seeds, cottonseeds, hempseeds, mustard seeds, live insects.
证书也需说明蚕豆不含其它外来物质：蓖麻子，棉籽，大麻籽，芥菜籽及活虫。
Broken beans and beans with insect holes not exceed 3 PCT MAX.
破埙豆及含有虫眼豆最多不能操过3%
Original only to be legalized by the Egyptian consulate/embassy in China.
正本须由埃及驻中国使领馆认证。
(F) GSP Form A certificate issued by CIQ in one original and one copy to show country of export and importation
普惠制格式A证书由中国出入境检验检疫局(CIQ)出具，正副本各一份，注明出口及进口国别。
(G) Phytosanitary certificate issued in one original and two copies issued by competent authority, Original only to be legalized by the Egyptian consulate/embassy CHINA.
植物检验检疫证书正本一份副本2份，由主管当局出具，正本须由埃及驻中国使领馆认证。
注：Phytosanitary certificate：植物检疫证书
(H)Fumigation certificate issued by official recognized body in one original and two copies, certifying that goods were fumigated at time and place of shipment. Original only to be legalized by the Egyptian consulate/embassy in CHINA.
熏蒸证书由官方认可的机构出具，正本1份副本2份，证实货物在装运时间和地点已经熏蒸处理。正本须由埃及驻中国使领馆认证。
注：Fumigation certificate：熏蒸证书。
(I) Radiation certificate in one original and two copies issued by CIQ certifying that the goods are free of radioactive material and does not exceed the international permitted allowance for this commodity.
放射证书正本一份副本2份，由中国出入境检验检疫局（CIQ）出具，证实货物不含有放射性物质，同时本商品不超过国际上所允许的范围。
Original only to be legalized by the Egyptian consulate/embassy in CHINA.
正本须由埃及驻中国使领馆认证。
注：Radiation certificate ：放射证书
(J) Copy of beneficiaries FAX shipping advice sent to HUYTON INC. LONDON.(FAX NO.XXXX) stating the following shipment details within 2 days from the B/L date:
受益人在提单日期起2日内向伦敦HUYTON 公司传真发送装运通知（传真号码：XXXX）
1.-Quantity shipped.
-装运的数量
2.-Loading port
-装运港
3.-B/L number and date
-提单号码和日期
4.-Destination
-目的港
5.-Name of the vessel
船名。
(K) Copy telex/fax from HUYTON INC., LONDON sent to beneficiaries giving name of the vessel
伦敦HUYTON 公司向受益人发送的电传/传真件通知有关船名事宜。
Including: 1000MT 10 PCT more or less at sellers option of Chinese broad beans Gansu origin Crop 2015 FAQ Max 1PCT admixture, Max 15PCT moisture, purity 99PCT Min
产品：1000公吨中国甘肃产蚕豆，允许金额上下浮动10%，2015年产，良好品质，杂质1%（最大），水分15%（最大），纯度99%（最小），
（注：1000MT 10 PCT more or less：溢短装条款
FAQ: 良好皮重即英语Fair Average Quality的缩写，请记住）
price:USD172-Per Gross MTON FOBST Lianyungang.
价格：毛重每公吨172美元（USD172/MT FOB 连云港，含平仓费和理舱费）。
（注： FOBST：装运港船上交货，包括平仓费和理舱费。即FOB Stowed & Trimmed 的缩写）
Packing: In new gunny bags of uniform weight of about 90KGS gross for net suitable for export.
包装：以新麻袋包装，标准重量约为90公斤，以毛作净，适于出口。
（注：gross for net ：以毛作净：国际贸易中，有些价值较低的产品，可以采用“以毛重作为净重”的方法计算总量，就是把货物的毛重当做净重来计算价格。）
Shipment:Latest 31ST MAY
装期：最迟不超过5月31日。
Destination:Suez Port.
目的港：苏伊士港。
Partial shipment NOT Permitted.
不允许分批装运。
Speical conditions:
特殊条件：
(1) Marks on bags to be:Chinese Gansu broad beans and such marks to be shown on all documents.
麻袋上的唛头为：中国甘肃产蚕豆：“Chinese Gansu broad beans”，本唛头须标注在全部单证上。
(2) Third party documents are acceptable.
第三方单证可以接受。
(3) Charger party bills of lading acceptable.
租船提单可以接受。
（注：Charger party bills of lading：租船提单。）
(4) Documents to be presented within 21 days after B/L date but whtin the validity of the credit.
单证须在提单日后的21天之内提示，但须在本信用证有效期内。
(5) Each document to show name of the vessel
每份单证上须注明船名。
(6) Each document to show B/L number and date and to be dated not earlier than 7 days from B/L date/
每份单证须注明提单号码和日期，同时其出单日期不能早于提单日期7天。
(7) Only invoice and quality certificate (DOC. E.) under desciption of the goods to state crop year no other documents to state crop year.
在描述商品的时候，只有发票和品质证书（单证E）上可以说明产品生产的年份，其他任何单证均不可说明产品生产的年份。
(8) All bank charges of CREDIT LYONNAIS (SUISSE) S.A. GENEVA are for HUNTON Incorporation account otherwise for beneficiaries' account.
Amendment charges are for account of the party requesting/causing such amendments.
LYONNAIS (SUISSE) S.A. GENEVA的一切银行杂费均由HUNTON公司承担，除此之外由受益人承担。改证费由请求/导致修改的一方承担。
(9)In case of transfer, documents No. (k) is no more required provided that the bank of China, Lianyungang certifies it had transferred the credit.
在转让的情况下，单证（K）不需要提供。只要中国银行连云港分行证实已经实施转让。
(10) Only Bank of China, Lianyungang is allowed to effect transfer of the present documentary credit.
只有中国银行连云港分行获准允许对本跟单信用证实施转让。
(11) Despite the fact that this credit is transferable, it is a condition of this credit that place of validity and payment cannot be transferred. Please advise beneficiaries immediately without adding your confirmation, Upon receipt at our counters of documents issued in strict confirmity with credit terms and conditions, we undertake to effect payment at sight by T.T. Unless otherwise expressly stated, this documentary credit is subject to the Uniform Customs and Practicer for Documentary Credit Revisin Publication I.C.C. 600.
尽管本信用证为可转让信用证，但本信用证不允许对到期地点和付款地点做出转让。请即刻通知受益人没有加具你行保兑。一收到与本信用证条款严格相符的单证，我行保证即通过电汇即期付款。除有明示，本跟单信用证受国际商会UCP600出版物的约束。