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Lc,lg and cc,od,ca etc

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(Querist)
06 June 2014 Pls tell me difference between lc and lg,cc and od,ca ?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
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.
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Rupesh Jain

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Rupesh Jain (Expert)
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.
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