The FBEP/DBEP is a facility whereby the Bank provides financing to the customer (Exporter/Seller) by purchasing/discounting bills of exchange accompanied by invoice and shipping documents/delivery order drawn by the customer on his foreign/local Buyer.
The shipping/commercial documents are released to the said foreign/local Buyer through his Bank against the exporter/local seller Banker’s instruction.
Financing proceeds will be credited to the exporter/seller's account by the Bank pending receipt of payment.
Documents for collection are subject to the Uniform Rules for Collection, International Chamber of Commerce Publication currently in force. Documents presented under documentary credits are subject to Uniform Customs and Practices for Documentary Credits, International Chamber of Commerce Publication currently in force.