Letter of Credit Forum

Dear sir,

We normally open  Atsight LC in Indian Bank, Sivakasi Branch and use Buyer's Credit for meet the Lc payment. Normally in other banks charges upto 0.95% for 6 month buyers credit. But Indian bank charges morethan 3% for this ECB. They treat the Buyer's Credit Letter of Guarantee as the Local Money Guarantee. So charge us more than 3%.

 So, any one of you face this situation in Indian Bank or in other bank. And normaly what is the charge for the ECB? Pleae send some charge list of the ECB of Indain Bank as well as other banks.

 Thanks & regards,

G. Rajkumar

Sivakasi

Email: sacinrkumar@gmail.com