Bank offers the LC Bill Discounting facility to its customers.
Requirements
- The bills should be drawn under irrevocable Letter of Credits issued by a Commercial Bank in India.
- The Bills drawn are in strict conformity with the terms of the LC.
- Bills of exchange should have arose out of bona fide commercial or trade transactions.
Documents to be submitted
- Bill of exchange
- Letter of credit
- Receipted Challan being proof of delivery of goods/ Documents of title to goods evidencing despatch of goods (RR/ LR/ shipping documents)
- Any other relevant documents.
The bills should be got accepted by the drawee through their bankers. In addition to the interest for the usance period, actual postage and handling charges will also be collected.
Rates & Charges
Please refer rates & charges page