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LC discounting is backed by a Letter of Credit issued by the buyer’s bank, while bill discounting is based on unpaid invoices or bills raised on the buyer.
Manufacturers, traders, exporters, importers, and MSMEs dealing in domestic or international trade transactions can apply for LC discounting facilities.
Generally, no additional collateral is required if the LC is issued by a reputed bank and the transaction profile is acceptable.
Usance LC discounting allows the seller to receive immediate payment against a time-based LC before the actual due date mentioned in the LC terms.
Sight LC discounting refers to immediate payment processing once the required shipping and trade documents are submitted and accepted by the bank.
The tenure usually ranges from 30 days to 180 days depending on the LC terms, buyer profile, and transaction structure.
The limit is generally determined based on annual turnover, transaction value, buyer strength, banking history, and the issuing bank’s credibility.
Commonly required documents include the Letter of Credit, invoice copy, transport documents, purchase order, GST details, and KYC documents.
Yes. MSMEs can use LC discounting to improve liquidity and manage working capital requirements without waiting for buyer payment cycles.
Sight LC, usance LC, domestic LC, and import-export trade LCs issued by approved banks are generally eligible for discounting.
