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Outward Bills For Collection-i (OBC-i)
The Bank handles your outward documentary collections (domestic & foreign) and facilitates the payment collection from your buyer in accordance to your instructions. OBC-i is performed under the Shariah concept of Wakalah.
Features
Documentary collection is presented either against Payment (D/P) or against Acceptance (D/A).
The Bank acts as an agent to collect payment in accordance to your instructions.
An accepted Bill of Exchange is a promise of payment by the buyer at maturity.
Benefits
Minimise Risk
Increase certainty of payment when you retain control of goods until the buyers make payment or give their acceptance.
Local and Foreign Transanctions
Ease your doubts as OBC-i is applicable for both local and foreign transactions.
No Credit Facility
The Bank handles your documentary and payment collections, with no credit facility required.
Important Information
- Product Disclosure Sheet
- Application Form
- Fees and Charges
- Trade Finance Cut-Off Time
- Notification to Resident Exporter
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