Usance Letter of Credit

Usance Letter of Credit

A letter of credit payable at a determined future date after presentation of conforming documents.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
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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).