Letter of Credit Forum

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) 

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.

Deferred Payment - No Draft.

Acceptance - Draft will be require.

Regards!!!!

Mujeeb :-)