Letter of Credit
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.