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Overview

Contract Finance from Riyad Bank is commonly known as invoice discounting, allowing you to obtain cash liquidity against the value of invoices before their due date. This service is designed to provide short-term financing facilities that help companies complete and deliver work before collecting payment from the third party.

Riyad Bank finances a percentage of the invoice value and may also issue a guarantee or letter of credit to suppliers once you enter into a contract finance agreement. Under that agreement, the invoice issuer will provide undertakings confirming that the invoice will be paid directly to the Bank upon completion of the contract.

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General Terms

All business owners and corporate customers are eligible to apply for this financing, subject to the following conditions:

  • Invoices must be owed by government entities or reputable companies, whether in the private or public sector.
  • The company or business owner must demonstrate a prior track record in this line of work.
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Apply Online - Islamic Finance Program for Contracting Agreements

 
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Keeping in mind that a current account is required to obtain any product or service from Riyad bank, if you do not have one yet, you can open an account from here

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