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difference between usance and deffered payment

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Tue, 03/09/2010 - 00:03
amran_raza
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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 

 

 

 

‹ clause 41-a Transfert of Lc ›
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Wed, 03/10/2010 - 02:47
#1
adnan yousaf
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difference between usance and deffered payment

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) 

 

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Tue, 03/09/2010 - 17:55
#2
lettersofcredit
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usance LC or draft

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.

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Tue, 03/09/2010 - 07:18
#3
smmujeeb
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difference between usance and deffered payment

Deferred Payment - No Draft.

Acceptance - Draft will be require.

Regards!!!!

Mujeeb :-) 

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Thu, 03/11/2010 - 02:36
#4
amran_raza
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thanks

thanks

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