The type of letter of credit that can be split up between many suppliers,each able to present their own documents for payment and allowing the trader to take his profits from the balance of the credit,is called:

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A transferable credit allows the primary beneficiary (the trader) to transfer his credit to one or more secondary beneficiaries (the suppliers) who can then present their own documents for payment, with the trader taking his profits from the balance of the credit. This is useful when a trader needs to source goods or services from multiple suppliers and wants to simplify the payment process. Irrevocable, revolving, and standby credits do not permit this feature.

The Type of Letter of Credit That Can Be Split