Usance Letter of Credit

Usance Letter of Credit

A letter of credit payable at a determined future date after presentation of conforming documents.

Time Letter of Credit

Letter of credit requiring payment a certain number of days after the appropriate documents are presented. It is also called a usance letter of credit.
Mentioned in ?
References in periodicals archive ?
TEHRAN (FNA)- Iran's Petrochemical Commercial Company International (PCCI) is in talks with investors from Japan and South Korea for an investment of e1/4520 million in petrochemical projects in Iran in the form of usance letter of credits (LCs).