Bills and Notes Guarantee
UK Export Finance has launched a new product to help support SMEs through challenging market conditions.
The new Bills and Notes product is now open to guarantee payments by overseas buyers. The product will be available to more financial institutions with a simpler, more streamlined process.
Bills and Notes are a standard method of payment where money is due under bills of exchange or promissory notes. UKEF has now improved its offer to enable overseas buyers of UK goods to benefit from extended payment terms structured using these methods.
Simply put, it means that small UK businesses can get paid more quickly and easily for their exports.