Summary
Buyer issues the electronic promissory notes to the seller, who request discount to the buyer’s transacting bank when required.
Expected Benefits
- - Seller: Increase liquidity when required through discount
- - Buyer: Tax Credit and Cost Saving
Early collection by the seller at low financial cost depending on the creditworthiness of the buyer.
Advantages of Citibank’s Product
- - Credit support to the vendors of the buyer with good credit standing.
Transaction Terms
- - Vendors of the buyer with good credit standing, who is a customer of the Bank.
Required Documents
- - Electronic Promissory Note
- - Notice on Transfer of Account Receivables or Acceptance of Transfer of Account Receivables
