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Hi every body,
I just came across Billex once our supplier sent a Billex to us for acceptance. I was dubious about it and not sure what a Billex is or how it works... finally I talked to JP Morgan and they explained to me what it is and how it works. I was surprised that despite all advantages a bill of exchange has, yet people do not know it and they just use costy LCs.
It is about three weeks we have switched to using Billex in our company. The only problem is here that our counter parties are not aware about it and we have to explain and convince them to use it.
We used it in Dubai easily, actually in UAE most of the traders know about it.
Every thing is fine with Billex company and the only problem is SMS delivery in some countries. We sent it to Nigeria for acceptance, they said they never received the pin codes and had to change the mobile company a few times. Apparently Billex has not strong sms gateways in Africa.
Good thing is here that Billex has started a flat rate of 30 USD for all countries,... I would recommend Billex and will keep using it in our business.
Tip for consumers:
Before using Billex, ask your partner or supplier to open an account in ibillex to make sure SMS is delivered in his country.then use thier profile info for new order of Billex. otherwise you cannot change the info once you submit the order and drawee mobile number remains unchanged in report for ever...acceptance not possible then.
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The first thing on ibillex.com is its astonishing graphic design and visual technics. It is...
