Foreign/Domestic Bill of Exchange Purchase-i (FBEP-i/DBEP-i) – Documentary

FBEP-i/DBEP-i (Documentary) is a facility granted by the BMMB to their Client (seller) whereby the BMMB negotiates or purchases Client’s foreign or domestic bills on collection basis under contract of ‘Bai’ Dayn’. A short term financing whereby the bank purchases the Client’s right to the debt.

 

Benefits

  • Immediate fund
  • Improve company’s cash flow pending payment from buyer
  • Financing for full amount of the bill
Features
  • Documents are sent on collection basis
  • Financing for Sight Bill (D / P) and Usance Bill (D / A)
Document Required

    The documents required for creating Export/Domestic Bill Purchased-i (DOC) are:

  • Documentary Collection / Negotiation Form from the customer
  • IFBEP DOC Bai Al Dayn Contact Note (Export Bill Purchased)
  • IDBEP DOC Bai Al Dayn Contact Note (Domestic Bill Purchased)
  • Shipping documents (as stated in Collection Instruction)
  • Bill of Exchange
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