Letter of Credit
The Basic objective of Letter of Credit is to facilitate orderly movement of trade. It is therefore necessary that the evidence of movement of goods is present. Banks are not connected with the quality / quantity of the goods and are concerned only with the documents which should conform to the terms and conditions of Letter of Credit.
IndusInd Bank establishes Letters of Credit for inland and foreign transactions.
Bank Guarantee is a contract to perform the promise or discharge the liability of a third person in case of his default. IndusInd Bank sanctions Bank Guarantee limit to facilitate issue of guarantees on behalf of its clients. Various types of guarantees offered are – financial, performance, bid bond, tenders, customs, etc. Our guarantees are well accepted. Our overseas correspondent bank alliances also enable us to issue guarantees overseas for participation in global tenders, etc.
IBL Registration Number NSE: INE231308847
MCX Stock Exchange Limited: INE261314434 for dealing in currency derivatives segment