Saudi Arabia
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Receivable Finances
Tailored solutions for businesses trading on open account terms
Another way to get finance when a buyer no longer issues Documentary Credits
Protects you against buyer default or insolvency
How Receivables Finance Works
- You sign an agreement with SABB.
- You provide goods or services to a customer and invoice them, informing them that you have assigned the receivables to SABB.
- You send the invoice to us and we obtain from your customer their acknowledgment of the assignment.
- You have access to standby funds up to an agreed percentage of the invoice value.
- When the invoice is paid, you receive the balance.
- In the case of undisputed receivables where a customer defaults or becomes insolvent, if you have taken out credit protection on the customer with us, we will pay you the outstanding balance up to the value of the agreed credit protection limit.
Other Benefits
- Improves cash flow
- No need to increase your overdraft as your business grows
- Allows you to respond quickly to new business opportunities
- Our Credit Protection can cover up to 90% of undisputed receivables
- We will handle all the admin and reporting associated with credit protection and claims
- Allows you to minimise the impact of bad debts on your business profits and cash flow
Ready to apply?
Now
Or..
- Visit the nearest Branch...
- Call us..on Toll Free: 800 124 5666 within the Kingdom or +966 (0)1 405-2066 from a mobile/abroad
- Register in SABBNET "Internet Banking Services" and enjoy preferential fees
