The Financing Company from Singapore specifically handles the invoice bill paying upfront. Benefits received:
I. For Exporter:
1. No need to incure additional costs to issue any bank instrument.
2. No need to pay any administration fees upfront.
3. No need to store any guarantee of any assets or cash.
4. Can still delay payment to supplier until maximum 120 days from invoice bill date.
5. Payment is directed to Incomlend not to supplier.
6. Can know with certainty the credibility of the buyer.
7. Ask buyer to make payment by Telegraphic Transfer or TT.
8. No need to wait for invoice bill because it will be banned by Incomlend 5 days after proof of delivery of Bill of Loading and invoice sent to Incomlend.
9. Incomlend will pay 90% of total invoice value to Importer.
10. The remaining 10% minus the Incomlend fee will be disbursed after the buyer settles the invoice.
11 Whatever happens whether the buyer is paid or not the exporter keeps the 90% of the funds that Incomlend has paid without being refunded.
12. Incomlend only impose a small fee deduction not a profit share according to the period of invoice.
13. Exporters will be paid
II. For Importers:
1. No need to bother making a billing to buyer because it will be done by the Incomlend.
2. Exporters will undertake delivery of goods to the buyer.
3. Exporter must send Invoice to buyer and Incomlend.
4. Importer only need to make payment to exporter by Telegraphic Transfer or TT.
5. There is no need to incur additional costs to issue Letter of Credit or Stand Letter of Credit or other bank instruments.
6. Can make a payment back to the exporter up to a maximum of 120 days.
** Note : Domestic funding only applied at Hongkong and Singapore regions