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Confirming is a service of management of payments to the company's suppliers that own a current account at Millennium bim. The Bank is granting, on demand, to the suppliers the possibility of an advance over the amount due to be paid by the main debtor.

Advantages for the main debtor Customer

  • ​​Increase negotiating power
  • Decrease of administrative costs
  • Suppliers' payments automation
  • Dedicated and profissional service

  • Advantages for the Customers' Suppliers

  • ​Treasury and cash flow improvement
  • Advances at any time
  • No additional indebtness
  • Competive conditions for the advances
  • Decrease of administrative costs
  • Access an easier way to achieve a perfect management of your payments to suppliers.

    Charges related to the Confirming are in 2 main areas:

    Commissions

    Main debtor

  • ​​Organization fee
  • Commissionão over the value of each Payment Notice (AP - Aviso de Pagamento)
  • Suppliers

    If the advance over the invoice when requested up to 10 day begore the invoice's due date and for amounts of MZN 25.000,00 or greater: 

  • ​Advance discount rate = Bank's PRSF – Prime Rate do Sistema Financeiro + spread.
  • The charges due to the advance are neting the advance amount.
  • For more information, please read the Bank's Price Schedule available online and at any of the Bank´s Branch.

     

     

     

     

     

     

     

     

     

     

     

     

    The confirming is a  suppliers' payment service for companies owning a current account at the Bank. The service is base upon exchange between the parties of payment notices, both in electronic format or paper.

    With this serviço, the Bank becomes the centralizing entity for the company payments (main debtor), performing in its name, and managing the payments to the its suppliers.

    Therefore, the Service has 2 areas of action, performed to 2 different kind of entitties:

     Centralized payment services (main debtor), with an agreement to performe the service (Contrato de Prestação de Serviço de Pagamento a Fornecedores - SPF);

     Collection service and possible funds advances, service rendered to the suppliers beneficiaries of the mentioned payments.

    Currency

    Metical (MZN).

    Access Conditions

    SME's and large companies having a large amount of suppliers

    Duration

    The duration of the SPF agreement is part of the General Conditions of the agreement, renewable for identical periods of time of 180 days, except if canceled, by any of the parties, by registered mail, send 30 days prior to the agreement's term or renewal.

    Collateral

    Depending upon the main debtor creditworthiness profile, a bill of exchange "in blanco" maybe requested. Additional collateral option can also be considered.

    You may obtain more information regarding the Confirming:

  • Visiting a Millennium bim Bank.
  • Contacting your Relationship Manager
  • Calling our Customer Line at:
  • +258 21 35 00 35

    +258 82 35 00 350

    +258 84 35 00 350

    +258 86 35 00 350

    We also suggest the following useful reading:

  • ​Factoring
  • ​Conta Corrente Caucionada(Revolving Credit Facility)