PAYMENT SECURITY OF USANCE DOCUMENTARY CREDIT (DC) FOR BENEFICIARY'S BANK
Journal Title: Educational Research International - Year 2019, Vol 8, Issue 2
Abstract
This research is conducted based on the understanding of that either Sight DC or Usance DC both have the same level of payment security for Beneficiary's Banks. In fact Usance DC is relatively safer than Sight DC for Beneficiary’s Bank. In Usance DC payment is not made by the Beneficiary's Bank to the exporter upon receipt of export documents, but rather the payment is made upon receipt of acceptance message from Issuing Bank. Acceptance message containsthe capability to pay on a certain date with a certain value from Issuing Bank to the Beneficiary's Bank. In other words, the payment is made by the Issuing Bank as stated in the acceptance message. This shows that Usance DC has a payment security and contains a relatively small risk of being unpaid. This research is made based on this phenomenon using a qualitative descriptive research method.
Authors and Affiliations
Acu Kusnandar, Finny Redjeki
Keywords
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