Financing request
Following the review of the file and the approval of financing by the Foreign Bank of Algeria (BEA), the client proceeds with the payment of a good faith deposit and signs the unilateral purchase commitment.
The Bank purchases the equipment
The Bank may mandate its client, on an exceptional basis, to select and even purchase, on behalf of the Bank, the asset subject to financing. It acts as the first buyer vis-à-vis the seller. This purchase is formalized by a contract binding the Bank and the seller.
The Bank resells the equipment
After acquisition, the Bank resells the asset to the client through a Mourabaha contract, with installment payments and a known, pre-agreed profit margin.
End of the financing period
After payment of all installments, the client becomes the owner of the equipment.
