Invoice/ Bills Discounting
This is intended to finance genuine trade bills (Bank shall obtain an assessment on the anchor client) and from time to time approve a list of anchors with which bills/invoices can be obtained
Amount advanced to be 80% of the value of the bill
A maximum period of 90 days to be permitted
Repayment on maturity of trade bills
Invoice discounting allows a business to draw money against its sales invoices before the customer (reputable company) has actually paid to meet working capital requirements.
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