Business Trade and Forex - Receivables Financing | RAKBANK UAE

Receivables Financing

Finance Against Receivables

Receivables Financing - Divider Title

<div class="epi-form-container__section__label-container">Transform your cash flow with our versatile financing options. Take advantage of our Finance Against PDC to boost your liquidity, secure a finance with us by using your invoices as collateral, or finance your takaful receivables for up to 70%.</div>

We’ll get you the funding you need

TradeForexIslamic - Terms and Conditions Notification

Important Information 

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To apply for the Trade and Working Capital finance, you must have:

<ul>
<li>Valid trade license</li>
<li>Valid passport, Emirates ID, visa (for all signatories and shareholders)</li>
<li>Bank statements, Value Added Tax (VAT) filings</li>
<li>Business documents, such as constitutional documents &amp; Account mandates viz memorandums, Shareholders Resolution, etc.</li>
<li>Company location document such as Ejari, lease agreement, etc. (as applicable)</li>
<li>Banking or financing assessment information / documentation (if and as applicable)</li>
<li>Capacity to meet the Bank&rsquo;s financing criteria</li>
</ul>
Trade and Working Capital Finance is offered basis evaluation of company size, business model and payment capability.

TradeForexIslamic - Other Requirements

Commitment to donate (above the agreed profit rate)

TradeForexIslamic - Commitment to donate (above the agreed profit rate)

Receivables Financing - Help-Divider Title

Key Fact Statement

Service and Price Guide

Service and Price Guide - Commercial

SALAMA TAKAFUL FINANCE SHIELD T&C

NOOR TAKAFUL FINANCE SHIELD T&C

Downloadable Forms

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TradeForexIslamic - Fees

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Finance Shield life Takaful contribution rate per month

TradeForexIslamic - Finance Shield life Takaful contribution rate per month

*Of the average outstanding each month or 3,000,000, whichever is lower, for each key person
Disclaimer:
VAT at the current of 5% will be levied on the Bank's fees and charges, as applicable under UAE law. For more details about our Business Finance fees and charges, please refer to our <a href="/globalassets/rakbank/all-pdfs/002---islamic---service-and-price-guides/bilingual/023-sp-vat-tradefinance-islamic.pdf" target="_blank" rel="noopener">Service &amp; Price guide </a>&nbsp;

Fees

You can apply for this product using <a href="https://rakbankonline.ae/Digital/AuthenticationController?FORMSGROUP_ID__=AuthenticationFG&amp;__START_TRAN_FLAG__=Y&amp;__FG_BUTTONS__=LOAD&amp;ACTION.LOAD=Y&amp;AuthenticationFG.LOGIN_FLAG=1&amp;BANK_ID=RAK&amp;USER_TYPE=1" target="_blank" rel="noopener">RAKBANK Digital Banking</a>. Here are the steps: 1.Go to&nbsp;<a href="http://www.rakbank.ae/" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=http://www.rakbank.ae&amp;source=gmail&amp;ust=1687508562826000&amp;usg=AOvVaw02TXDJiNUympHIWw84JK-0">www.rakbank.ae</a> 2.Select the &ldquo;Business&rdquo; from Digital Banking login type 3.Login using your Username &amp; Password 4.Click on "Discover &amp; Apply" 5.Select the desired product

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Log in to RAKBANK Digital Banking and apply instantly

Apply through Digital Banking

TradeForexIslamic- Terms And Conditions

Terms and Conditions

TradeForexIslamic - Terms and Conditions

Receivables Financing - Help Card

TradeForexIslamic - Eligibility

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Processing fee, Due Diligence and Documentation fee - One-time payment (% of approved finance amount)

TradeForexIslamic  - Processing fees (if any) at the time of onboarding

SERVICE DESK

Have a question?
You’ll likely find the answer in our FAQs.

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FAQs

TradeForexIslamic - Al Etihad Credit Bureau check fee

<div class="epi-form-container__section__label-container">Unlock your receivables held in Post Dated Cheques with our Shari&rsquo;ah Compliant Solution. Obtain Finance Against the Value of security cheque by your buyers.</div>

Receivables Financing - Post Dated Cheque Discounting

Secured Financing Against Security Cheque

TradeForexIslamic - Divider Title

<div class="epi-form-container__section__label-container">Take the next step towards business growth</div>

Eligibility & Fees

Receivables Financing - Dividing Title - At your service

We offer comprehensive Working Capital Finance options through a combination of experienced Relationship Managers and advanced technology with TRADEASSIST.
TRADEASSIST streamlines trade finance transactions and provides a quick, efficient solution for our corporate and business clients. Our dedicated team is always available to assist and support you in your financial endeavours.
&nbsp;

At your service

TradeForexIslamic  - With Salary Transfer

Non-Waived Profit in case of Partial or early settlement fee (% of the outstanding finance amount)

TradeForexIslamic- Non-Waived Profit in case of Partial or early settlement fee (% of the outstanding finance amount) 

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Banking that works around your business

Eligibility

<ul>
<li>The Bank may amend the features, fees, charges, terms &amp; conditions of the Finance with a 60-day notice.</li>
</ul>
Warnings
<ul>
<li>An approval for the Finance, once sanctioned, is only valid for 30 days from the date of approval, and the Finance disbursal must be completed before that so as not to lose time, failing which re-approvals need to be sought internally. Extension beyond 30 days is at the Bank&rsquo;s discretion and subject to internal approvals.</li>
<li>If you pay off the Finance prior to the due date, you will pay early payment charges at the rates described in the <a href="/globalassets/rakbank/all-pdfs/002---islamic---service-and-price-guides/bilingual/023-sp-vat-tradefinance-islamic.pdf" target="_blank" rel="noopener">Service &amp; Price Guide.</a></li>
<li>If you are late in payment or fail to make a payment on the due date, you will pay a commitment to donate amount at the rates described in the Service &amp; Price Guide</li>
<li>If you fail to make a payment, or otherwise breach the terms of TWC facilities, this will be considered a default and the Bank will be entitled, among other things, to:</li>
</ul>
(a) cancel the TWC Facilities, demand full payment immediately and enforce security or liquidate / sell assets, if applicable;
(b) Report the default to the appropriate regulatory authorities including the UAE Central Bank and Al Etihad Credit Bureau and credit rating agencies, which will affect your credit rating;
(c) Bring legal proceedings against you.
Risks and Limitations
<ul>
<li>Commercial Finance: Disbursal of the TWC Facilities to the company account or payment directly to the supplier will be as per the Financing Arrangement Letter.</li>
<li>Last EMI amount could vary depending on moratorium period, changes in floating rate indices and payment delays.</li>
<li>Finance tenor may vary post sanction depending on EMI deferrals sought from the Bank, payment delays and pricing variation.</li>
<li>If you fail to make any payment due under the working capital finance or otherwise breach our terms, we reserve the right to repossess the asset, if applicable and liquidate / sell the same to settle the outstanding amount.&nbsp;</li>
<li>Any deferral of installment is subject to the banks internal process and policy.</li>
</ul>
Customer Obligations
<ul>
<li>Customer to open account for the company.</li>
<li>Use of the account will be governed by the <a href="/globalassets/rakbank/all-pdfs/002---islamic---terms-and-conditions/k-j00203-debit-card-tc-business-a4.pdf" target="_blank" rel="noopener">Terms and Conditions</a> Governing Shari&rsquo;ah Compliant Business Accounts available on the website <a href="/en/islamic/">www.rakbank.ae</a>.</li>
<li>Pay all installments and other amounts due on the due dates without delay.</li>
<li>Review this document and all other terms &amp; conditions set out in the Financing Arrangement Letter and other documents in detail.</li>
<li>Regularly check our website&nbsp;<a href="/en/islamic/business/">www.rakbank.ae</a> for updates.</li>
<li>Notify the Bank in writing if there is a change in your business income details, contact details, postal or location address, financial details, change in business activity or any other material information as declared in the facility documents / application form or otherwise conveyed to the Bank.</li>
<li>Always safeguard sensitive banking details such as a/c number, cheque book, Debit Card, login ID, passwords, pin number etc.</li>
<li>Notify the Bank in writing prior to making any changes to ownership or management of the Company as was declared during the application process and seek consent; and</li>
<li>Notify the Bank in writing if you wish to early pay your finance prior to its maturity.</li>
</ul>

TradeForexIslamic - Key Terms & Conditions

<div class="epi-form-container__section__label-container">Get quick access to funds by leveraging your outstanding invoices with our Finance Against Invoices facility. Get a finance against your future payments to boost your cash flow and stay ahead in business.</div>

We’ll get you the funding you need

Secured Financing Against Security Cheque

Finance Against Invoices (FAI)

Eligibility & Fees

At your service

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Banking that works around your business