USANCE LETTER OF CREDIT

In order to provide relief to the power sector consumers and increase liquidity in the system, Coal India Limited (CIL) has allowed the facility of Usance Letter of Credit to power sector consumers for payment of coal instead of cash advance for the Fuel Supply Agreements.




About:

  1. A usance letter of credit is a specific type of letter of credit that allows a predetermined credit period to the buyer i.e. the importer.

  2. In common business usage, a usance letter of credit is also known as a deffered letter of credit.Usance applies to many items purchased on credit. For example, a company that purchases materials from a supplier will receive the goods today. The bill will be delivered today, but the company might have up to 30 days to pay it. The 30 days represents the usance for the sale. 

Source : All India Radio

Vignan IAS Academy imparts Best IAS coaching in Bangalore for Civil Services. VIA team of mentors (teachers), with long years of experience in teaching as well as expertise in our specific subject-matter expertise. Our team has been exposed to exclusive IAS coaching’s in Bangalore, has created value for those coaching institutes.

  • Facebook
  • Twitter
  • Pinterest
  • YouTube
  • LinkedIn
google-icon-png-9.png
whatsapp.png

ABOUT VIGNAN IAS

ALL COURSES

- Why Vignan IAS?

- About Us

- How to choose Best IAS

- Coaching in Bangalore?

- Key Features

9606576465

- Intensive IAS

- CSAT-Prelims

- Mains

- Public Admins Optional

- Economics Optional

HELPFUL LINKS

- Current Affairs

- Daily News Analysis

- Books

- UPSC Syllabus

- UPSC Notifications

- Eligibility Criteria

- Study Material

- How to Prepare?

Copy rights All rights reserved by Vignan IAS Academy