what is discountable?
Document evidencing the debt owed by the Buyer to the Exporter. This debt can be evidenced by a wide range of documentation such as:
- Promissory Notes
- Bills of Exchange
- Letters of Credit
- Payment guarantees
- Open Book Receivables, subject to certain conditions
In most instances, the debt will need to bear the unconditional, irrevocable and freely transferable guarantee or the Aval of an acceptable bank in the Buyer's country. In some cases, however, CITI INTERNATIONAL TRADE FINANCE can consider top tier corporate or government debt without additional bank security.