Discounted Bills

Citibank can advance funds against a company`s signed promissory notes for merchandise sold on credit. The promissory notes, in either LCY or US Dollars, are endorsed by the client wishing to discount the documents and these documents are held by Citibank until the credit has been repaid. Interest rates and fees are negotiable and can either be discounted directly or paid on a basis established prior to disbursement.
This product also includes the possibility of a portfolio purchase (i.e. the client`s accounts receivabels portfolio). Portfolio purchases can be instrumented with full recourse, partial recourse, or no recourse depending upon the transaction dynamics.

The benefits offered by this product include:

	Reduce accounts receivables and increases credit sales limits so as to increase overall sales.
	In the case of a partial portfolio purchase, the client is able to receive cash inflows at current value, improving its financial ratios and increasing its debt capacity.

Target Client

Local and Foreign companies.

Basic Requirements

Meet new client criteria.

Required Documents

Same as described in Commercial Loans section.