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