Yes, DIBS is Developer pay directly to the banks.

If owner / borrower pay him/herself and then claim back from developer is not consider DIBS, but called ISS ( Interest Self Service )

ISS is quite somemthing new to the town and started since one or two years ago. PJD is using this for it's YouOne, USJ 1 and YouCity, Cheras and Villamas is using this ISS for their Zefer Hills.
DIBS : The first 3 years ( construction years period ) is agreeable to pay by developer to the bank in the Project Letter Offer or Consent Letter, thus it is protected the loan borrowers that the invoice / billing shall issue to loan borrowers, but payable by developer in separate bulk mode.

The pro about DIBS is agreement protected and we dont have to worry the interest payable by developers, but ( the con ) we need to do frequent monitoring. Banks allow more time frame to the developer ( up to 14 or 21 days ) to pay the bulk interest chargeable to them, but if they paid it late, it will affected the late payment into our name in the CCRIS.
ISS : It's between buyers and developer, and banks do not come into the picture. The first 3 years rate might be varies for different buyers from different branch or bank but developer only pay a fixed amount ( ex. Fixed 4% or 5% ).

It can be extra or it can be lesser. If the developer don't pay, it's btw buyer and developer, it is nothing related to the bank and nothing protected. The only pro about here would be, you manage your own loan repayment and do the claim back later ( by quarterly or semi-annually )

There are pro and con btw DIBS and ISS. I like ISS way but generally, when banks do not offer DIBS and hence developer comes up with ISS package, it means the developer's financing is so-so, project's financing is so-so or the project is overprice.

June is coming soon. Can't wait to see the new Hse

If Not Wrong MRT Station 31 (Equine Park Station) is Actuall in Front of Tmn Pinggiran Putra The Petron Petrol Statiom is the Site