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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.

  • Fund work in progress
  • Fast money deposit to meet urgent needs
  • Stable working capital financing
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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:

  • Invoices have to be drawn on a reputable private or public sector company or Government agency
  • 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.

Contract Table 1

PRODUCT ANNUAL PERCENTAGE RATE (APR) ADMINISTRATIVE FEES ADMINISTRATIVE FEES MIN OR MAX LIMIT

Contract Financing

2% to 15%

0% to 5%

-
* The above table is an example, and the annual percentage rate varies according to the amount and the credit evaluation of the activity in addition to the period and method of payment.
* The financing cost varies according to the nature and duration of the contract / funded project.

 

The method of calculating the finance cost:

Example (1):

Contract Table 2

Finance Amount

SAR 100,000

Payment Method

Monthly Installments

Payment Period/td>

12 Months

Annual Profit Rate

2%

Contract Table 3

FINANCE AMOUNT INSTALLMENT AMOUNT TOTAL BANK PROFIT FINANCE AMOUNT INCLUDING PROFITS

SAR 100,000

SAR 8,500

SAR 2,000

SAR 102,000
Example (2):

Contract Table 4

Finance Amount

SAR 100,000

Payment Method

One Payment

Payment Period

3 Months

Annual Profit Rate

15%

Contract Table 5

FINANCE AMOUNT INSTALLMENT AMOUNT TOTAL BANK PROFIT FINANCE AMOUNT INCLUDING PROFITS

SAR 100,000

SAR 103,750

SAR 3,750

SAR 103,750
Example (3):

Contract Table 6

Finance Amount

SAR 100,000

Payment Method

Quarterly Payment

Payment Period

36 Months

Annual Profit Rate

8.5%

Contract Table 7

FINANCE AMOUNT INSTALLMENT AMOUNT TOTAL BANK PROFIT FINANCE AMOUNT INCLUDING PROFITS

SAR 100,000

SAR 10,458

SAR 25,500

SAR 125,500

Frequently Asked Questions

What can I finance with Contract Financing facility?
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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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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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  • Mada transactions : if the TXN < 100 SAR the fee will be 0.70%, If the TXN >= 100 SAR the fee will be 0.80 % Cap 160 SAR.
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  • Set up fees = 10000 SR
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    • Local Bank Accounts = 7 SAR
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  • Card issue = 1000 SAR
  • Annual fee = 300 SAR

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