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CC limits

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(Querist)
15 December 2009 What is the difference between CC and LC limits
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Amol Gopal Kabra (CA,CS,DISA)

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Amol Gopal Kabra (CA,CS,DISA) (Expert)
15 December 2009 CC means Cash Credit and LC means Letter of Credit. CC is a short term Working Capital Finance. Whereas LC is the guarantee taken by bank to the exporter on behalf of the importer to make the payments for import proceeds.
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CS Vandana Kacholia

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CS Vandana Kacholia (Expert)
15 December 2009 agree with suggestions
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
15 December 2009 Agree with Mr. Amol

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