- Extended credit period
- Lower lending rate (Libor + margin)
Features
- Maximum tenor of 90days
- Facility is granted for bills drawn under an import usance letter of credit
- Facility needs to be fully secured by asset collateral
Benefits
- Eases cash flow problems
- Sales proceeds realized before making payments
Requirements
- Customer operated account for at least 6 months & shown ability to pay
- A post import facility secured
- Customer letter of facility request
- The bill of exchange to be refinanced
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