Banker’s Acceptance
Product Name
Banker’s Acceptance
Introduction
A bill of exchange drawn by customers to their order, payable on a specific future date and accepted by the bank for the purpose of financing trade transactions i.e. export, import or domestic.
Features
Minimum amount of financing : MYR50,000 or equivalent.
Minimum financing period : 21 days.
The cheapest means of financing in MYR currently available.
Margin of advance is up to 100% of invoice value rounded downward to the nearest thousand.
For Customers
The Customer have limited working capital, they have to develop business through rapid capital turnover.
To speed up and accelerate cash flow, case the funding pressure.
Application requirements
The enterprise is maintaining current account with our bank and having granted the trade facilities by the Bank of China (Malaysia) Berhad.
Product Disclosure Sheet
Documents Required
The customer should provide the following documents:
a. Application for Bankers Acceptance
b. Banker’s Acceptance Draft
c. The underlying trade supporting documents
