Open Account Financing Product
Open Account Financing is bill financing provided by BNI through billing takeover in the Open Account method by discount.
There are 2 (two) types of Open Account Financing schemes that can be facilitated by BNI :
- OAF Seller → an exporter (seller) submits a financing application to BNI on the basis of a bill in the form of a copy of the document, then BNI provides the financing referred to, and when due, the exporter (seller) completes the payment of the financing to BNI.
- OAF Corporate → corporate as the importer (buyer) submits an application to BNI for the invoice received in the form of a copy of the document, subsequently BNI provides financing to the importer (buyer) by crediting the funds to exporter (seller) through a discounted bill process with recourse, and when due, the importer (buyer) completes the payment of the financing to BNI.