Time letter of credit

(Time LC).

A time letter of credit is a letter of credit payable at a predetermined future date, after the conforming documents are presented.

Time LCs are also known as usance LCs, deferred payment LCs or term LCs (contrasted with sight LCs).

See also

• Clean letter of credit
• Condition
• Confirmed letter of credit
• Confirming bank
• Conforming documents
• Documentary collection
• Documentary credit
• Irrevocable letter of credit
• Letter of credit
• Sight
• Standby letter of credit
• Trade finance
• Usance