Ø These are payments in advance made on behalf of the importer to foreign suppliers.
Ø Importers pay in advance for goods not delivered and the Bank makes sure that all necessary documentation is presented to RBM for exchange control approval.
Ø Payments settled with spot value, upon request with same day value.
Ø Forward settlements also available.
Ø Importers are able to settle foreign bills with foreign suppliers within two working days and exporters can plan to deliver goods in quickset time possible.