Legal Question in Banking Law in India

27.02.2014

Dear Sir / Madam,

A Letter of Credit may be any of the following :

1. Revolving Letter of Credit;

2. Back to Back Letter of Credit;

3. Deferred Payment Letter of Credit;

4. Revocable Letter of Credit;

5. Standby Letter of Credit;

6. Irrevocable Letter of Credit;

7. Confirmed v/s Advised Letter of Credit;

8. Sight v/s Usance Letter of Credit &;

9. Straight v/s Negotiation Letter of Credit

There is no "accommodation" terminology used in the context of a Letter of Credit issued by a bank. You should ask the bank to categorize the L/c as any one of the above.

Regards,