The financing of the customer’s current activity, by providing a ceiling to the customers which perform export operations through the export letters of credit with deadline payment
Flexibility by the possibility of reimbursement during the whole validity period of the revolving ceiling
Free consultancy offered by Bank on the preparation of the accessing documentation of the ceiling for opening and running letters of credit
Visualizing of the financial status and of the current account/card transactions via Internet Banking and Mobile Banking Services provided by the Bank
Eligible customers: any customer, legal person, with satisfying financial results and a good history of the payment behaviour in the relationship with the State, business partners and credit institutions, in accordance with the internal regulations of CEC Bank and which additionally:
- at the date of the financing request have ongoing or they are about to sign/negotiate commercial contract, orders for supply of goods and services or making works at export where the payment is made by irrevocable export documentary letter of credit (confirmed or unconfirmed) governed by the Rules and Uniform Usages regarding the UCP 600 documentary letters of credit, 2007 edition, with deadline payment, CEC Bank being the advising bank (the bank of the beneficiary of the letter of credit). There are not eligible the export operations guaranteed at payment by stand-by letters of credit, even if these are issued within UCP 600;
- perform commonly and rhythmically export operations with issuance of letters of credit.
Destination of the loan: granting a short term loan facility, in the form of extreme limit, revolving, for financing the company's current activity, based on export receivables generated within some export letters of credit with deferred term.
The granting duration of the ceiling: maximum 18 months, composed of the drawing period of 12 months and the reimbursement period of maximum 6 months, with the possibility of extension of the drawing period for additional periods of 12 months each.
Way of usage: Revolving, by multiple drawings, in the limit of the ceiling value previously granted.
The value of the ceiling: maximum 125% of the cumulated value level of the export commercial contracts ongoing in the previous year/being part of the portfolio at the time of the facility request.
The ceiling currency: EURO/USD.
- Guarantee Contract concluded with the major shareholders/major associates/ the customer’s administrators and, by case, with their husband/ wife;
- Mortgage on the accounts of cash balance opened at CEC Bank;
- Assignment for security purposes of the receivables within the export letter of credit.
Reimbursement: possibility of reimbursing the loans granted within the extreme limit while cashing the export receivables, with the reinstatement of the extreme limit for granting new loans.