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UPAS (Usance Payable at Sight) LC

  • Features

It is an import financing scheme to finance importers. Following are the highlights of our product:

  • Facilitates foreign currency funding for trade credits to importers in India at competitive pricing for extended period as per the operating cycle.
  • The product helps in providing a mechanism whereby a Usance LC is paid on sight basis to the exporter or seller, while the payment settlement from the importer or buyer to the LC issuing bank is made on due date as per the contracted terms.
  • UPAS LC provides payment solution for the exporters at sight basis and simultaneously provides extended payment terms to importers.
  • It facilitates importers to negotiate good price in sales contract as sellers or exporters receive payment immediately after the shipment.

Types of Trade, FX and Remittances

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