Sight LC definition
Sight LC means the LC which provides for payment by ICICI Bank to the negotiating bank on presentation of Documents drawn under the LC.
Examples of Sight LC in a sentence
When Party A applies for issuance of Usance L/C, for Sight L/C where Party B could not control the rights of goods, for Shipping Guarantee and for Trust Receipt Loan，Party A should submit Trust Receipt according to Party B's request.
This credit line is revolving, and includes the issuance of Sight L/C and Usance L/C.
Supplier’s Credit can be arranged against LC transactions only, where as Buyer’s Credit can be arranged for any type of payment mode (LC Sight, LC Usane, DA and DP) except advance payment.