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Inward Bills for Collection-i (IBC-i)
The Bank acts as an agent to handle the collection of your foreign or domestic inward documents and facilitate trade settlement on sight or on a future date. IBC-i is performed under Wakalah Shariah concept.
Features
Documentary Collection is presented either against 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 sellers' banks worldwide.
Benefits
Simplicity
Easy and simple method of payment arrangement.
Cost Savings
Minimal bank charges and commission involved.
Efficiency
Immediate possession of goods upon payment or acceptance of Bill of Exchange.
Important Information
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A written undertaking by the Bank issued on behalf of a buyer guaranteeing payments to a seller against presentation of necessary trading documents.
A short-term financing that helps buyer to take possession of your purchased goods.
Serves as a promissory note to the Bank indicating that buyers will pay the Bank upon sales of the goods.
Handling all outward documentary collections against payment or acceptance for sellers or exporters.
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Copyright 2018 Affin Bank Berhad (25046-T).
