LC Bill Discounting

Features & Benefits

Bank offers the LC Bill Discounting facility to its customers.

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The bills should be drawn under irrevocable Letter of Credits issued by a Commercial  Bank in India.
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The Bills drawn are in strict conformity with the terms of the LC.
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Bills of exchange should have arose out of bonafide commercial or trade transactions.

Documents Required

  • 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.
  • Interest for the usance period, actual postage and handling charges will also be collected.

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