Int on bill discounting
This query is : Resolved
06 September 2011
Dear Experts,
We want to discount a export bill with bank.
Bill is for $ 1,08,000/- terms of pymt is 90 days from Bill of Lading.
B/L date is 06.08.2011.
suppose if we discount the bill with our bank on 07.09.11 @ Rs46.20/$. & rate of int on bill discounting is 10.27%. then..
What will be the amt of int on bill discounting?
What period will be taken into account for calculating the int on bill disc.?
Whether from B/L date to due date of bill or from the date of bill discounting to due date of B/L date?
Waiting for ur reply....
Thanks in advance..
Regards,
Sushil.
We want to discount a export bill with bank.
Bill is for $ 1,08,000/- terms of pymt is 90 days from Bill of Lading.
B/L date is 06.08.2011.
suppose if we discount the bill with our bank on 07.09.11 @ Rs46.20/$. & rate of int on bill discounting is 10.27%. then..
What will be the amt of int on bill discounting?
What period will be taken into account for calculating the int on bill disc.?
Whether from B/L date to due date of bill or from the date of bill discounting to due date of B/L date?
Waiting for ur reply....
Thanks in advance..
Regards,
Sushil.
08 September 2011
The bill discounting rate and interest differs from bank to bank and is also based on number of days.
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