Usance letter of credit: Difference between revisions
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imported>Doug Williamson (Create page. Sources: linked pages, Handbook of International Financial Terms, Michelle Price's email 1 May 2018.) |
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Revision as of 15:38, 1 May 2018
(Usance LC).
A usance letter of credit is a letter of credit payable at a predetermined future date, after the conforming documents are presented.
Usance LCs are also known as deferred payment LCs, time LCs or term LCs (contrasted with sight LCs).
