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 / seller, while the payment settlement from the Importer / 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 got good price in Sales contract as sellers/exporters receive payment immediately after the shipment