Export & Import Documents

  • Export Documents

    Product Definition

    Al Rajhi Bank can remit trade documents representing the ownership of merchandise. At maturity or at sight, Al Rajhi Bank receives the funds and pays the exporter. There is no obligation for Al Rajhi Bank to pay the exporter until the full funds are received.

    Features and Benefits

    • Exporters ensure that trade documents will not be given to the importer unless he pays or commits, accepting a draft
    • Al Rajhi Bank acts as the exporter’s representative using its structure, long years of extensive experience and efficiency to deal with commercial and financial documents
    • In term of collections, the exporter receives a legally executable document (draft or promissory note) covering the rights to collect
    • In sight collections, the exporter retains ownership of the merchandise until it is paid in full

    Transaction Mechanism

    Al Rajhi Bank remits the documents representing the ownership of the merchandise and the collection instructions to Importer's Bank.

  • Import Documents

    Product Definition

    Al Rajhi Bank receives the exporter’s documents from the exporter’s overseas bank, which represents the ownership of the merchandise and the instructions for collecting from the exporter's bank. At maturity or at sight, Al Rajhi Bank remits the funds and pays the overseas bank. Al Rajhi Bank is not obliged to pay the overseas bank if the importer (Al Rajhi Bank client) has insufficient funds in his account.

    Features and Benefits

    • Al Rajhi Bank’s Client (importer) will ensure that the documents are as per his requirements before payments are made to the exporter or before committing for the payment
    • Al Rajhi Bank acts as the representative of the importer using the bank’s structure, long years of extensive experience and efficiency to deal with commercial and financial documents
    • In terms of collections, the importer (Al Rajhi Bank’s client) has the legal obligation to pay if he has accepted a draft or promissory note

    Transaction Mechanism

    Al Rajhi Bank remits the documents representing the ownership of the merchandise and the collection instructions to its clients (importer) upon payment or acceptance of a draft or promissory note.