difference between usance and deffered payment

Tue, 03/09/2010 - 00:03 — amran_raza

Hi,

wht is technical difference between usance L/C and deffered payment L/C. As in general meaning both are the same

thanks

Imran Nazir

Wed, 03/10/2010 - 02:47 — adnan yousaf

both lc are for credit period but

in usance L/C

beneficaiary draws bill of exchange

while deffered payment L/C

appllicant submit promissery note called undertaking

see contract act 1872 (draft and promissery note)

Tue, 03/09/2010 - 17:55 — lettersofcredit

According to my understanding deffered payment letter of credit is the same meaning as an usance L/C.

If i see a "usance draft" term somewhere on the text than i understand that writer refers to a "time draft".

International letter of credit consultancy services.

Tue, 03/09/2010 - 07:18 — smmujeeb

Deferred Payment - No Draft.

Acceptance - Draft will be require.

Regards!!!!

Mujeeb :-)

Thu, 03/11/2010 - 02:36 — amran_raza

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