Usance LC definition

Usance LC shall have the meaning ascribed to it in Clause 12.1.2(c)
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Usance LC means the LC which provides for payment on maturity as per the terms of the LC. All capitalised terms used but not defined in the Facility Agreement shall have the respective meanings assigned to them under the General Conditions.
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Usance LC means the LC which provides for payment on maturity as per the terms of the LC.
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Examples of Usance LC in a sentence

  • Interest on Delayed Payment in case of IRLC and Usance LC shall be applicable after 5 days from date of raising of invoice to date of receipt of funds in CIL / Seller’s bank account.

Related to Usance LC

  • Standby is displayed, followed by a message stating “Bidding started”. Enter your “Start bid”.

  • Credit card means any card, plate, coupon book, or other credit device ex- isting for the purpose of obtaining money, property, labor, or services on credit.

  • Letter of Credit means any letter of credit issued pursuant to this Agreement.

  • Letter of Credit Request shall have the meaning provided in Section 2.03(a).