Express Payment Services

The Express Payment Service (EPS)

A factoring facility which enables farmers, fishers and other suppliers of goods and services to the hotels and other reputable institutions to receive payment at a discounted rate through the SLDB within 24-hours following the sale and submission of documents required by the Bank

How Does Our Express Payment Service Work for You:

  • No more long delays in receiving payment
  • Early payment means improved cash flows
  • Funds are quickly available for re-investment (soil preparation, re-planting etc. allowing for increased crop cycles)
  • Financial obligations can be met on time, safeguarding your credit worthiness
  • Cash available for family well-being

How Does The Express Payment Service Work?

  • The Seller must assign payment for the invoice to the SLDB;
  • The Seller must agree to accept payment from the SLDB, less the discount, as final settlement for the invoice;
  • The Seller must provide the Bank with all documents requested;
  • The Purchaser must sign an agreement to pay the Bank on behalf of the client within a specified time;
  • The Purchaser must agree to honor any charges arising from late settlement.
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