Lc,lg and cc,od,ca etc
This query is : Resolved
06 June 2014
Pls tell me difference between lc and lg,cc and od,ca ?
06 June 2014
cc is cash credit given on current account on agreed value.
lc is letter of credit given by importers bank in case of foriegn imports.
lc is letter of credit given by importers bank in case of foriegn imports.
07 June 2014
lc latter of credit
lg letter of gurantee
cc cash credit a/c
od over draft a/c
ca current a/c
letter of credit it is issue for max. 90 days to supplier for inland or foreign purchases.
letter of guarantee for contract, or in any govt dept.
last three are a/c which are operated by you under condition of bank.
lg letter of gurantee
cc cash credit a/c
od over draft a/c
ca current a/c
letter of credit it is issue for max. 90 days to supplier for inland or foreign purchases.
letter of guarantee for contract, or in any govt dept.
last three are a/c which are operated by you under condition of bank.
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