2.4.5 Detailed Coverage (description of the product)
Product Code | IBLA |
---|---|
Description | Incoming Sight Bills Under LC Advance |
BC Type | Import |
Tenor Code | Sight |
Under LC | Yes |
Document | Clean |
Operation | Advance |
Product Preferences | |
---|---|
Auto Liquidate BC Contracts | Yes |
Auto Status Change | Yes |
Auto Change from Acceptance to Advance |
No |
Accrual Freq | Daily |
Interest Comp to be Collected in | Arrears |
Allow Prepayment of Interest | No |
Default Rate Type | STANDARD |
Accep Commission Pref | No |
Advance By Loan | No |
Loan Product | No |
Link to Loan(Export Bills) | No |
Parent topic: Product Code –IBLA