IB bank Burkina

Documentary discount

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Acceuil / Documentary discount

Description:

Documentary remittance (or documentary collection) is a transaction whereby an exporter instructs IB Bank to collect, according to its instructions, a sum due or the acceptance of a commercial bill by a buyer against delivery of documents. 
These are commercial documents (invoices, transport documents, title deeds, etc.), which may or may not be accompanied by financial documents.

Features:

Documentary remittance is an intermediary service offered by IB Bank that allows a commercial transaction to be settled by sending documents (invoice, bill of lading, certificate of origin, etc.) to a bank against payment or acceptance. It is a flexible alternative to documentary credit (or letter of credit).

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Benefits:

  • Facilitates international and local trade
  • Enhanced security for both parties
  • Flexible payment terms
  • Reduced costs compared to documentary credit
Documents to be provided and conditions for opening:
  • Two (02) recent passport photos from the same print run
  • Valid proof of identity (National Identity Card, Consular Card, ECOWAS Card, or Passport)
  • Proof of income (most recent pay slip, employment contract, certificate of employment, or certificate of commencement of employment)
  • Proof of residence (a copy of a water, electricity, or landline telephone bill, or a certificate of residence)
  • Mailing and geographic address
  • Initial Deposit: Free of charge
  • Two (02) recent passport photos from the same print run
  • Valid proof of identity (National Identity Card, Consular Card, ECOWAS Card, or Passport)
  • Mailing and geographic address
  • Proof of residence (a copy of a water, electricity, or landline telephone bill, or a certificate of residence)
  • Initial Deposit: Free of charge
  • Two (02) recent passport photos from the same print run
  • Valid proof of identity (National Identity Card, Consular Card, ECOWAS Card, or Passport)
  • Retirement certificate or pension statement
  • Mailing and geographic address
  • Proof of residence (a copy of a water, electricity, or landline telephone bill, or a certificate of residence)
  • Initial Deposit: Free of charge
  • Two (02) recent passport photos from the same print run
  • Valid proof of identity (National Identity Card, Consular Card, ECOWAS Card, or Passport)
  • Activity declaration form, professional license, or authorization to practice
  • Mailing and geographic address
  • Proof of residence (a copy of a water, electricity, or landline telephone bill, or a certificate of residence)
  • Initial Deposit: Free of charge
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