LC Discount is Letter of Credit Discount. The Letter of Credit from the prime banks or financial institutions is considered as a complete security. A borrower can offer the LC to the lender and get the loan sanctioned. The loan amount may be up to 100% of the LC value. Once the LC is executed the amount against LC is settled by the lender against the loan disbursed to the borrower.
LC Discounting helps the businesspersons to raise finance quickly for a shorter period of time.
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