Letter of Credit
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Letter of Credit

 
Letter of Credit
With ICICI Banks Letter of Credit, you can be assured of timely and correct payments from your buyers. Now, interact with ease even with companies with whom you have had limited experience or are unsure of their credit history.

ICICI Bank offers inland and foreign LCs of two types Sight LC and Usance LC. Sight LC commands immediate payment on presentation of the necessary documents.

In case of a Usance LC, payment is set for a specified future date only after acceptance of presented documents.


The ICICI Bank Edge

  • Sanctioned and issued quickly
  • Competitively priced
  • Usance period of up to 180 days
  • Assessment based on a parameterised model.
  • ICICI Bank LCs can also be availed against 100% cash margin in the form of Fixed Deposits 

ICICI Bank LCs are available against 25%-35% cash margin and 100% collateral security in the form of residential property or liquid securities. ICICI Bank holds first charge on current assets.