This is a short-term facility offered to importers to settle Bills of Exchange that have matured.
- The facility enables clients to pay bills on time and creates room to generate receivables
- The facility may assist the client to negotiate better credit terms with his suppliers
- Used by importers/buyers to pay the Bills as they fall due instead of debiting the current account
- It is ideal to use when Client account is not in credit balance as the fees charged are usually lower than the overdraft
- PIF Facility or Cash Margin
- Customer Letter of request
- Supplier’s invoices