Frequently Asked Questions (FAQs)
Question and Answer

Q. What is UPAS?


The abbreviation of “ usance LC pay at sight’’ is called UPAS. In such cases values of usance LCs are paid to the beneficiary at sight. ‘Discounting export bill’ and ‘buyers credit’ are the main two sources of finance of UPAS. In Bangladesh, buyers credits are used for ‘UPAS’ payment to beneficiaries abroad.

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