Outward Bills For Collection (OBC)

Outward Bills For Collection (OBC)

We act as an agent to handle all your documentary collections against payment (DP) or acceptance (DA) to any of your buyers globally. We act as the intermediary to facilitate your trade settlement on terms agreed with your buyer and monitor the collection of proceeds.

Features

  • Collections can be in two forms, i.e. Documents against Payment (D/P) or Documents against Acceptance (D/A)
  • Seller will draw a Bill of Exchange on the buyer
  • An accepted Bill of Exchange is a promise of payment by the buyer at maturity

Benefits

Buyers:

  • Control of goods of retained until the buyer makes payment/give acceptance
  • Applicable for both local and foreign transactions
  • No credit facility is required
  • Increase certainty of payment when collection is at sight. Risk is minimized as compared to open account trading
  • Hassle free on preparation of documents, simpler and cheaper than LC

Eligibility

  • Malaysian suppliers (Domestic Sales & Exports)

Requirements

  • Having maintain current account with us
  • Application must be made in the bank’s standard Application Form, along with Bills of Exchange, duly completed and signed by your authorised signatory/ies.

How to Apply

  Leave us your contact details so that we may reach out to you

Click here

  Contact our Call Centre at +603-8230 2222 or visit the nearest Business Centre nationwide today.

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