Financing process is simple and straight forward; a customer provides us with his request to buy Saudi made products, we in turn send him an official quotation. Once he approves the quotation, we submit a request to one of the financial institutions on his behalf. The financial institution studies the request, the nature of the transaction and the risks involved. The financial institution then evaluates the credit worthiness of the customer and decides the adequate financing terms and conditions. The most important terms and conditions are; the period of financing (including drawing, grace & repayment periods), the number of installments, profit margin and the required form of collateral (bank guarantee, letter of credit, etc.).

Financing may reach up to 100% of the transaction value

Financing Requirements …

Financing is mostly given to companies that adopt modern financial methods. Also companies that have good credit standing with the banks they deal with. Some of the required documents are:-

• Annual financial reports for the last three years, dully audited by auditing firms
• Recommendations of the banks the customer deals with
• A letter from the beneficiary’s bank agreeing to open an L/C for the transaction amount.