Tuesday, 13 March 2018 07:49

Inland LC Discounting

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Inland/Local LC Discounting :

Inland Letter of Credit (ILC) is issued to meet out the credit requirement for domestic trade. Usance ILC is opened where payments are done after a fixed Usance Tenor. Seller of the goods availing finance by tendering the bills along with the ILC to a banker before the proceeds is realized is called ILC discounting.

Pan capital plays a key role in discounting and handling Inland LC by identifying a third Bank (Financing Bank) providing competitive interest rate from leading PSU and Pvt Banks.

ILC Process Flow
Read 1061 times Last modified on Thursday, 15 March 2018 10:23
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