Open Account Financing (OAF) is a funding facility provided by Bank Danamon for the Customer based on the invoice.
- On OAF Buyer, Bank Danamon will help the Customer which acts as the Buyer to prolong the duty payment from the completion to the Seller until the payment was received by the last buyer.
- On OAF Seller, Bank Danamon will help the Customer which acts as the Seller by giving early payment to fix the cash flow.
- For the Buyer of OAF Buyer:
Free the applicant from cash problem until the payment from the last client for product sold is obtained.
- For the Seller of OAF Seller:
Faster funding to fix cash flow.
- The risk for the Seller:
Late payment risk from the Client, though the problem may be mitigated by asking bank guarantee from the Buyer.
- The risk for the Buyer:
The Buyer may not get the right product/service according to the contract if the payment happens before the product/service is accepted.
Requirements of the Buyer for OAF Buyer and the Seller for OAF Seller:
- Having an account on Bank Danamon;
- Signing Credit Agreement for Open Account Financing facility;
- Providing collateral asset as required.
For information/customer service of transaction/banking services, customers may call Hello Danamon on 1-500-090.
- Pricing for every customer may be different depending on the risk level of the customer. All bill will be debited from the customer’s account.
- The total cost will be informed to the customer on the service application and be attached to the signed contract.