Export Invoice Discounting (EID)
Dear Valued Corporate Customers,
We are gladly informed you that on Wednesday, 23 November 2022 Bank of China Hong Kong Jakarta Branch have launched new Trade Financing solutions, Export Invoice Discounting (EID).
What is EID?
EID is a type of short-term loan provided to the seller / exporter on a with recourse basis, for the purpose of financing sales of Goods and/or Services which have been shipped or delivered to the buyer under open account trading.
What are the benefits for Customers?
- Acceleration of capital turn overs. The seller / exporter can receive fund in advance before receiving payment from the Buyer by requesting EID loan to the Bank, so that capital turnover can be improved.
- Increase competitive advantage compared to competitors. EID can provide more flexibility to the Seller / Exporter in providing shorter payment terms to their Buyer, without disrupting their cash flow.
- Simpler documents requirement and financing procedure. Compared to working capital loan and other financing solutions under documentary trade, EID requires simpler supporting documents (i.e. invoice and delivery evidence) with shorter turnaround time during the drawdown process.
For further information regarding EID, you can visit EID page here. To apply EID, please contact 021 5205502 or you can direct your queries to our Trade Sales team at product.sales@bankofchina.co.id
Best regards,
Bank of China Hong Kong Jakarta Branch
