EXIMBANKA SR provides financial resources for the support of export activities (on the basis of an export contract between an exporter and a foreign buyer) of an exporter by providing acceptance credits for receivables from export in the form of a discount credit issued by the exporter on the advice of EXIMBANKA SR with a clause without protest, on which the credit bank or credit business may be listed as a bill guarantor.
Advantages for the exporter
|Diagram explanation note|
|The Exporter concludes the contract or receives confirmed order and export goods or service.|
|2.||Provision of credit for export receivables|
|EXIMBANKA SR provides credit for financing of export receivables up to the amount of export invoice or set of invoices, reduced by retention under the insurance contract (usually 10 % - 15 %).|
|Repayment of credit directly to the EXIMBANKA SR or exporter´s account with EXIMBANKA SR from the payments from the foreign buyer in accordance with due dates of export invoices. After the payment, is the difference between the credit and payment from the foreign buyer (retention reduced by interests) sent to the exporter.|
For what time period is this credit provided?
In the case of a short-term credit for an export receivable the maturity is at most 1 year (30 – 360 days).
What are the basic conditions for providing the credit?
• Existence of an export contract or confirmed orders.
• Drawing of the credit on the basis of buyer invoices own bill of exchange of the exporter and a document confirming export.
• A loan up to the amount of 75 – 90% of the value of each export invoice.