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Inward Bills For Collection (IBC)
The Bank acts as an agent to handle the collection of your foreign or domestic inward documents and facilitate trade settlement on sight or at a future date.
Features
Documentary Collection is presented either againsts Payment (D/P) or against Acceptance (D/A).
An accepted Bill of Exchange is a promise of payment by you at maturity.
Handling of documents received from seller's banks worldwide.
Benefits
Simplicity
Easy and simple method of payment arrangement.
Cost Savings
Minimal bank charges and commission involved.
Efficiency
Immediate possesion of goods upon payment or acceptance of Bill of Exchange.
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A written undertaking by the Bank issued on behalf of a buyer guaranteeing payments to a seller against presentation of compliant documents.
A short-term financing that helps buyer to take possession of purchased goods.
Serves as a promissory note to the Bank indicating that buyers will pay the Bank upon sales of the goods.
Handling of foreign or domestic outward collection documents based on customer’s instructions to obtain payment or acceptance.
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Copyright 2018 Affin Bank Berhad (25046-T).
