Avalising (Co-acceptance)

This is an undertaking given by the Bank to honour, on a customer’s behalf, payments of Bills of Exchange. This service is applicable to both domestic and international trade. The facility is normally used where the seller’s only concern is the buyer’s risk

Benefits

  • Payment is guaranteed by a bank
  • Drawee can obtain or Credit & Discount on availed bills


Key Features

  • The Bank charges a fee and a commission.
  • The product has a maximum tenor of 180 days.
  • The facility needs to be fully secured by asset collateral

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