It is a non-cash financing type where bank guarantee (Aval) is attached to debt instrument (Policy) accepted by the Buyer (Importer).
It is a payment instrument in which the amount written on promissory note drawn and accepted by the buyer or on policy issued by the seller and accepted by the buyer is irrevocably committed to be paid by the Bank.
Buyer firms have the advantage of deferred payment.
Seller firms receive a payment guarantee from the buyer’s bank with respect to the cost of goods at the end of stipulated maturity.
What is the advantage?
Your company can benefit from the reliability, credibility and reputability of Vakıf Katılım.
With Vakıf Katılım Mobile Branch, you can carry out many banking transactions from your mobile devices with Android, İOS and Huawei operating systems in a fast and safe manner.