iB Receivable Financing

Benefits

Access to banking services based on Sharia principles
Enhancement of the value chain in the business relationship between the Client (the party using the Bank's services) and the Customer (business partner)
Facilitates Clients in receiving faster payments through financing facilities
Assists Customers in increasing trade volume through the extension of the settlement period between the Customer and the Client

Features

Feature	Description
Type of contract	Wakalah bil Ujroh and Qardh
Financing Segment	Micro, Small, and Medium Enterprises (MSMEs)
Currency	Indonesian Rupiah
Financing Limit	Minimum financing IDR 50,000,000,- and maximum as per the bank's analysis
Tenure of Financing	Maximum 12 (twelve) months
Cost	Administrative fees apply according to the bank's regulations

Applicant Requirements

Customer is a company with a minimum of 3 (three) years of business experience
Customer plans to engage in trade transactions with the Client for the long term and continuously
Client is a company with a minimum of 3 (three) years of business experience
Client has a business relationship with the Customer for at least the last 6 (six) months
Trade transactions between the Customer and the Client acceptable for receivable financing are as follows:
- Open trade transactions
- Direct transactions between the Customer and the Client
- Continuous transactions

Document Requirements

No	Document Type	Applicant
		Individual	Company
1	Original completed and accurate application form	√	√
2	Photocopy of ID card of the prospective customer and spouse	√	-
3	Photocopy of Family Card (KK)	√	-
4	Photocopy of Marriage Certificate	√	-
5	Valid ID from each Business Entity administrator and the Business Entity party authorized to transact with the Bank. In accordance with the Minister of Home Affairs, the Electronic ID is valid for a lifetime	-	√
6	Photocopy of Domicile Certificate	-	√
7	Photocopy of Business License (SIUP, SITU, TDP, HO, SIUJK, etc.) and Environmental Impact Assessment (AMDAL/UKL-UPL) for manufacturing and plantation industry customers	√	√
8	Photocopy of Personal Tax ID/NPWP	√	-
9	Photocopy of Company and Administrator Tax ID	-	√
10	Photocopy of Establishment Deed/Articles of Association and amendments	-	√
11	Phot ocopy of approval from the authorized agency	-	√
12	Photocopy of permits from relevant authorities	-	√
13	Photocopy of Savings/Checking Account (R/K) statements for the last 3 months	√	√
14	Company Financial Statements (Balance Sheet and Income Statement) for the last 3 years and/or photocopy of proof/business transaction records	√	√

Cost

As per the Bank's regulations

Important to Note

Delay in the payment may impact the reduction of the financing collectability status.
customer may be subject to a fine (ta'zir) and/or compensation (ta'widh) if there is a delay in the payment obligation
The fine (ta'zir) fund will be allocated through the bank's social activities.