Under acceptance credit, these usance bills are accepted upon presentation and eventually honored on their respective due dates. The Bills of Exchange that are drawn and payable after a period are called usance bills. A sight letter of credit is more immediate than other forms of letters of credit. For example, a businessman can present a bill of exchange to a lender along with a sight letter of credit and take the necessary funds immediately. Under this Letter of Credit, documents are payable at the sight/ upon presentation of the correct documentation. The letters of credit can be divided into the following categories: Sight Credit
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