Foreign Documentary Bills
offered by Bank is a sum of money advanced to an exporter against documents covering export of goods to a foreign buyer either under a letter of credit favouring exporter or on collection basis. The advance is made against a promissory note and the Bank's standard bills discounting form duly signed by the exporter and the relevant export documents including original title to the goods exported (bill of lading, airway bill etc.) duly endorsed in the Bank's favour.
BankMuscat
provides Export Credit as a sum of money advanced for a pre-agreed tenor by the Bank to a commercial customer for the sole purpose of financing exports to other countries. Export Credit can be broadly classified into two
categories:
Pre-Shipment finance: Money advanced to the borrower to facilitate sourcing of goods, raw materials etc. prior to their eventual shipment to the buyer.
Post Shipment finance: Money advanced to the exporter against submission of documents evidencing shipment of merchandise including original title to the goods (bill of lading, airway bill etc.)
|
