An Import LC is one of the most secure methods of importing goods and it allows you to control shipping dates or facilitates a shipment schedule.
Revolving import letter of credit
A revolving letter of credit is a single letter of credit that covers multiple transactions over a long period of time. It is very specific in the way that it is used for regular shipments of the same commodity between the same buyer (importer) and the seller (exporter). This letter of credit is issued only once for a certain period of time or a certain number of transactions. It avoids the need for repetitive arrangements to open a new letter of credit for every transaction.
One time import letter of credit
Import bill advance is a kind of short-term finance offered by the bank to the importer according to his demand upon receiving the bills under the letter of credit and the import collection items.
Merchandise loan against import documents
Loan against Imported Merchandise (LIM) is a facility provided by the bank to the importers who are in shortage of fund to retire the import bills and thus to clear the goods from the port authority. In other words it may be referred as an advance made to the importers for clearance the imported merchandise.
