Your company can use the service for aval of such promissory notes:
- aval of commercial promissory notes under the contacts on the purchase of seeds, fertilizers and crop protection products. The bank assumes the risk of default by the client - agricultural producer of its payment obligations towards the distributor or supplier of such products;
- aval of promissory notes with a limited circulation issued for the amount of taxes or other obligatory payments, in favor of state tax administration, customs or other state organization. It gives you the opportunity to minimize cash outflow, increase working capital and provide more favorable conditions of foreign operations.
Consideration of operations on aval of promissory notes is often carried out simultaneously with the working capital financing.
Basic conditions of financing:
Minimum amount: UAH 4 000 000.
Tenor of financing:
- a general limit tenor: 1-3 years.
- a term for redemption of each promissory note:
- for commercial promissory notes: up to 1 year (usually – 270 calendar days);
- for promissory notes with a limited circulation: within the tenor stated by Ukrainian law.
Currency of financing: UAH.
- Commission for aval: 3-5% p.a.
- Organization fee – up to 1%;
Possible collateral (or its combination):
- pledge of fixed assets (property complexes, real estate, equipment, vehicles, agricultural machinery);
- pledge of goods in turnover;
- pledge of property rights under deposits placed in OTP Bank;
- credit repayment guarantee of other bank;
- financial surety (corporate guarantee) issued by a company acceptable for OTP Bank;
- financial surety of the borrower`s owners.
|More detailed information can be obtained by calling the Information Center|