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LC Discounting India
LC Discounting India
Most banks & financial institutions offers lc discounting which is a short-term facility comes at good rates. Visit our website for read more details.

LC Discounting India

LC Discounting India

Letter of credit discounting is a short-term credit facility offered by various banks to the beneficiary. The bank purchases the documents or bills of the seller; thereafter fulfills certain compliances requirement and provides the needed documentation to the dispatched to Letter of credit opening bank.

Meeting these compliances in accordance with the LC terms, the bank makes him/her the payment for a security or a fee. Get better control over your receivables and cash flow management

Features of LC Discounting India

Lending institutions can pay the discounted value of the invoice to the seller, immediately upon shipment.

You can able to get LC discounting India services at best rates in rupee with personalized benchmark services.

Fees and Charges

Competitive commission fee

Competitive margins

Transparency in other charges

Benefits

Customized solutions to cater to all requirements

Expertise and dedicated manpower for transactions

Single window contact point

Simplified process with minimal documentation

Excellent turnaround time

Advantages of Bill Discounting:

Bill discounting is a advantageous credit facility to businesses, banks, finance companies especially companies engaged in trading sectors.  

List of Documents

Documents required as per the LC terms for lodgement and dispatch to LC issuing bank

Bill Of Exchange

Commercial Invoice and Packing List

Transport Document i.e. (lorry receipt/ rail receipt)

Delivery Challan, if any

Acceptance from LC issuing Bank

Discounting request letter

How Bill Discounting LC India works?

Step 1 - Buyer to apply for LC.

Step 2 - Seller bank to issue LC.

Step 3 - ICICI Bank to advise the LC.

Step 4 - Seller to dispatch goods to buyer

Step 5 - Seller to submit transportation documents to ICICI Bank.

Step 6 - ICICI Bank to submit the documents to seller’s Bank.

Step 7 - Seller’s Bank to inform the buyer about the documents

Step 8 - Bill discounted and funds credited when buyer gives it acceptance.