Invoice discounting is a facility that enables suppliers to get cash settlement of their invoices from Banks upon confirmation of delivery of goods, whilst beneficiary is conferred with extended credit terms of up to 60 days. Invoice discounting allows a business to draw money against its sales invoices before the customer has actually paid. To… Read more »

A letter of Credit is a conditional undertaking made by the bank to pay the exporter (seller) for goods exported, provided the exporter presents documents called for under the Letter of Credit and which comply with the credit terms and conditions. Trading partners who are not too familiar or comfortable to deal with each other… Read more »