Foreign/Domestic Outward Bill for Collection-i (FOBC-i/DOBC-i)
Facility granted to the seller to finance their trade debt, which arises from sale contract of goods (halal), presented under Documentary Credit under the principle of ‘Bai Al-Dayn’.
Benefits
Customers get immediate fund;
Improve company’s cash flow pending payment from buyer;
Financing for full amount of the bill.
Features
Sale contracts of goods drawn under documentary credit;
Financing for Sight Bill and Usance Bill;
Documents presented that comply with the Documentary Credit terms.