11.7.5 Usance Letter of Credit Payable at Sight即期付款的远期信用证
A usance credit payable at sight is a usance credit under which the issuing bank undertakes to pay you at sight against complying documents.When the bill of exchange is due,the applicant reimburses the issuing bank.It is credit offered by the issuing bank to the applicant and the interest thereof is normally borne by the applicant.
