The drafts issued by the exporter and endorsed by the importers bank are discounted upon the exporters request and the amount is collected prior to its due date.
It is a pre-export financing in which the bond/promissory notes created by the exporter and avalised by exporters bank are discounted through correspondent banks.
Confirmed and unconfirmed LCs opened in favor of exporting companies can be discounted by DenizBank. After appropriate documentation is submitted and reviewed by DenizBank, the LC amount can be paid to the exporter before maturity.
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