Bank of Jordan offers its clients diversified and comprehensive options for financial and banking services that fulfill all of their banking needs. Specifically, options include loans to finance letters of credits and bills for collection as well as discounted commercial bills to finance import/export letters of credits, transfers or bills for collection. The transaction finances a certain portion of each letter of credit or bill for collection, whereas the repayment is to be settled separately for each financing by monthly installments to be agreed by the bank and the client.
What is meant by financing letters of credits/bills?
This product is either extended for one time or as a permanent credit facility to be used for financing all types of letters of credit, whether for import or export, as well as transfers and bills. The financing covers a certain portion of the amount of the letter of credit or bill, whereas the repayment of each financing is settled separately by monthly installments to be agreed on between the bank and the customer. While interest is charged monthly on the diminishing outstanding balance, the commission is charged in advance.
Advantages of financing letters of credits/bills at Bank of Jordan:
- Financing a proportion that matches the needs of your commercial operations
- Easy and quick processing of transactions
- Competitive interest rate
- Easy monthly installments
Beneficiaries from the financing of letters of credits/bills:
- All corporates of whatever activity or line of business
- All public and private corporations
For more information, please visit any of our branches or contact us at our contact center and phone banking, at your service 24/7.