Bills Avalisation/Co-Acceptance

This is undertaking by Credit Bank on behalf of the importer, to honour, payments of Bills of Exchange or drafts from the supplier. This undertaking is similar to that of a Letter of Credit and hence provides the same comfort to the supplier but with an easier structure for the importer. This is applicable to both domestic and international trade.
This bill can subsequently be discounted or used to negotiate better credit terms thus can enhance the trading relationship with the importer.