Invoice Discounting entails the purchasing by Family Bank, invoices or promissory notes from a supplier’s selected customers.
- This is a short-term trade finance product usually with a tenor of 180 days or less.
- The bank typically does the discounting with recourse to the supplier
- Competitive rates are offered depending on volumes
- Discounting facility or payment guarantee in favor of the bank
- Customer's letter of request
- Invoices and/or Bills of Exchange and/or certificates of work done