BILL DISCOUNTING:

BD finance offers credit facilities to its valued customers by Bill Discounting. We discount bills or receivables from credit worthy clients. BD Finance purchase bill (i.e. bill of exchange or promissory note) before it is due. After charging a discount, the value of the bill disbursed to the client. The transaction is practically an advance from the date of purchase of the bill until it is due for payment. The amount we finance, also depends on your past record and reputation of the drawee.

The following conditions to be fulfilled to avail bill discounting facility:

  • A bill must be a usance bill;
  • It must have been accepted and bear at least two good signatures (e.g. of reputable individuals, companies or banks etc.);
  • The Bank will normally only discount trade bills;
  • Where a usance bill is drawn at a fixed period after sight, the bill must be accepted to establish the maturity;

Documents need to submit: (If required)

  • Bill of exchange
  • Letter of credit
  • Invoice / Packing list
  • Certificate of origin, Inspection certificate, Beneficiary Certificate
  • Bill of lading (ocean), Airway bill, Lorry/truck receipt, railway receipt, Forwarder Cargo Receipt, Shipping Advice, Deliver Challanetc
  • Documents of title to goods evidencing dispatch of goods
  • Insurance policy

Other relevant documents