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WHAT IS THE MAXIMUM DURATION LIMIT FOR USANCE LETTER OF CREDIT .IS THERE ANY RBI RESTRICTION OF 180 DAYS?

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Question added by ANUP AGARWALLA
Date Posted: 2015/09/08
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NIRAV SHAH
by NIRAV SHAH , MANAGER PROCUREMENT (DIRECT MATERIALS) , L&T SPECIAL STEELS AND HEAVY FORGINGS

There is no specified rule for maximum credit period, credit can be availed for full 365 days. however many banks do not allow credit more than 180 days.

Jalal Ahmed
by Jalal Ahmed , ADMINISTRATIVE PURCHASES , ABDUL AZIZ HAMAD AL FARES&SONS CO.

THE MAXIMUM DURATION LIMIT IS DAYS

 

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