Indirect Exporters' Financing Scheme
Indirect Exporters' Financing Scheme (IEFS) is a non-recourse financing scheme for SMEs who are Indirect Exporters (Sellers), whereby Participating Financial Institutions (PFIs) discount commercial documents arising from the supply of goods and/or services to Direct Exporters (Buyers) with coverage provided by EXIM Bank to PFI. Essentially, once the Indirect Exporter sells goods or renders services under credit terms to the Direct Exporter, the Indirect Exporter presents the documents for discounting to the PFI. In the event the Direct Exporter fails to pay the PFI on the due date, EXIM Bank pays claim to the PFI under the Indirect Exporters’ Financing Scheme.
Detailed information can be referred to Product Disclosure Sheet
Indirect Exporters’ Financing Scheme
- Insolvency of the Direct Exporter
- Payment default of the Direct Exporter
For the purpose of enabling the Indirect Exporter to discount the trade receivables in respect of goods supplied/services rendered to the Direct Exporter.
The Indirect Exporter can grant a maximum credit period of up to 120 days to the Direct Exporter. A 60-day extension subsequent to the maximum credit period can be granted making a total of 180 days.
Up to 100% of invoice value.
Up to 90% of the bank's loss.
In respect of goods sold, from the date of delivery of goods or in respect of services performed, from the date of submission of invoice.
- Premium rate: minimum of 0.073% per month
- Interest: COF + 2.00% per annum (maximum margin)
- Standard bank charges
Manufacturing/Services & Other Sectors.
Four months from the due date.