Can a sight LC Discountable?

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A sight Lc has been issued but the applicant wants to change the sight lc to be ...
Posted by:
wangeci mu
16-June-2016

Accounting Financial Accounting Financial Analysis Financial Expertise Finance

Question added by SRINIVAS RAO KANAMARLAPUDI , Senior AGM , SEAWAYS SHIPPING AND LOGISTICS LIMITED
Date Posted: 2014/04/15

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4 Answers

Muhammad Zubair

by Muhammad Zubair , CFO / Chief Accountant , RH Group

No as it is just like cash equivalent.

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by Muhammad Afaq , SENIOR FINANCIAL ACCOUNTANT , United Eddy Company (United Yousef M. Naghi Group)

as sight LC is same as u purchased something on Cash. So it is not disountable.

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by Deleted user

NO...only negotiable instruments are discountable.

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Mujtaba Hussain

by Mujtaba Hussain , Accounts officer , Miraj Entertaiments

yes its discountable

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