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BLOOM DAUE (Drawing Against Uncleared Effects)

D.A.U.E is a product which gives customers access to funds, drawn against cheques which have been deposited into the customers’s account but are yet to be processed and fully cleared. This allows businesses to continue their operations without having to wait for their deposited cheques to be cleared.

BLOOM DAUE (Drawing Against Uncleared Effects)

D.A.U.E is a product which gives customers access to funds, drawn against cheques which have been deposited into the customers’s account but are yet to be processed and fully cleared. This allows businesses to continue their operations without having to wait for their deposited cheques to be cleared.

Who is this for:

  • Small, medium and large sized businesses
  • SME Customers

Features:

  • Tenor: Applicable clearing period.
  • Repayment: Repayment shall be from proceeds of cleared instruments
  • Competitive pricing, processing and management fees
  • Security: Lien on instruments in the course of clearing.
  • Support: Personal guarantee of at least one Director.

Benefits:

  • It provides the avenue for customers to draw against proceeds of cheques in the course of clearing.
  • This will reduce delays and frustrations to customers’ business arising from the urgent nature of such requests
  • To meet our customers’ needs for short term funding by providing immediate
  • Access to funds in clearing in a structured manner