1. Purchase/Discount with recourse is when SCB has a right of recourse to your company if the L/C Issuing Bank does not make payment on the L/C.
2. Purchase/Discount without recourse* is when SCB has no right of recourse to your company if the Issuing Bank does not make payment on the L/C. In this case, SCB accepts the risk of the L/C Issuing Bank.
* Under terms and conditions determined by SCB.
SCB helps you collect payment by examining the L/C for conformity with terms and conditions. Your company gets paid promptly and reliably for export orders.
Get paid faster, and at lower cost, when exporting under Open Account. Increase collections efficiency.