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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

You might also be interested in

Accepted Bills-i (AB-i) – Import/Purchase
Accepted Bills-i (AB-i) – Export/Sales
Foreign/Domestic Outward Bill For Collection-i (FOBC/DOBC-i)
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2024-02-23 08:37:52