What is tt reimbursement in letter of credit?

T.T.R or telegraphic transfer reimbursement allowed is a clause in the LC that allows the nominated bank to claim reimbursement from the issuing bank, the confirming bank or the reimbursing bank by sending to this bank a swift message certifying that the documents presented comply with the LC terms and conditions.

T.T.R or telegraphic transfer reimbursement allowed is a clause in the LC that allows the nominated bank to claim reimbursement from the issuing

What is the Function of a Reimbursing Bank Under a Letter of Credit? There are two possible reasons that makes a reimbursing bank necessary

46A: documents required to draw under letter of credit. 47A: additional conditions: this is often where it mentions if TT reimbursement is acceptable (“TT” means

1) It is true that not many banks are willing to issue LC with TT reimbursement allowed as the issuing bank must reimburse earlier than it does