Contract Financing - Invoice Discounting Finance
Contract Financing
Riyad Bank offers special solutions for contract financing associated with the implementation of construction contracts or other contracting of all types, where projects have been assigned from governmental or semi-governmental organizations as well as private sector, and must have been granted letters of guarantee with sufficient liquidity to finance the costs of the project.
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Fund work in progress
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Fast money deposit to meet urgent needs
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Stable working capital financing
More Information
Contract Finance from Riyad Bank also known as Invoice Discounting, unlocks lump sums of cash that are invoiced and are due to be paid to you. The feature is designed to provide short term finance for businesses in order to undertake and complete works, prior to actually being paid for these services.
Riyad Bank will loan a percentage of the invoice value and can also issue a Guarantee or Letter of Credit to a supplier once you have entered a Contract Finance agreement. As part of the agreement the invoice issuer will provide assurances, that on the completion of the contract the invoice will be paid directly to the bank.
All business and corporate customers are eligible under the following conditions:
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Invoices have to be drawn on a reputable private or public sector company or Government agency
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The business or corporation must have a proven track record of performance with these services
Existing Riyad Bank customers can apply through the Relationship Manager.
New customers can apply through the nearest Riyad Bank Corporate Branch.