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Can a sight LC Discountable?

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Question added by SRINIVAS RAO KANAMARLAPUDI , Senior AGM , SEAWAYS SHIPPING AND LOGISTICS LIMITED
Date Posted: 2014/04/15
Muhammad Zubair
by Muhammad Zubair , CFO / Chief Accountant , RH Group

No as it is just like cash equivalent.

Muhammad Afaq
by Muhammad Afaq , SENIOR FINANCIAL ACCOUNTANT , United Eddy Company (United Yousef M. Naghi Group)

as sight LC is same as u purchased something on Cash. So it is not disountable. 

NO...only negotiable instruments are discountable.

Mujtaba Hussain
by Mujtaba Hussain , Accounts officer , Miraj Entertaiments

yes its discountable

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