Financial Guide for SMEs - SME Corporation Malaysia
Financial Guide for SMEs - SME Corporation Malaysia
Financial Guide for SMEs - SME Corporation Malaysia
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<strong>Financial</strong> <strong>Guide</strong> <strong>for</strong> <strong><strong>SME</strong>s</strong>Purpose Product Usage Features Benefits• Able to sell on morecompetitive terms tocredit customers.from the face value ofthe invoices, andprovide cashadvances <strong>for</strong> businesspurposes.• Buyer:i. A safe method ofpayment as thepayment can bedeferred by thebuyer until thegoods arrive oreven later ifdelayed paymentarrangementsare agreed toii. Customers willhave time toinspect thedocuments be<strong>for</strong>epaying/acceptingAssist customer inmaking payments<strong>for</strong> trade transactions.Outward /InwardBills <strong>for</strong>Collection(OBC/IBC)Trade ServicesTo assist customers intrade transactions,financial institutionsalso provide paymentservices.<strong>Financial</strong> <strong>Guide</strong> <strong>for</strong> <strong><strong>SME</strong>s</strong>• Seller:i. Documents ofvalue, i.e. titlesdocuments, arenot released tothe buyer (drawee)• Documents arechanneled throughthe financialinstitution withspecific instructions.• <strong>Financial</strong> institutionshandle documentson instructionsreceived (fromcustomer or anotherbranch or financialinstitution) to:i. obtain acceptanceand/or payment;ii. deliver commercialdocumentsagainstacceptanceand/or againstpayment; andiii. deliver documentson other termsand conditions.9898chapter 7-13 p79-181 Eng.indd 988/15/11 5:02:57 PM
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