Target Market: Legal entities
Terms of product approval: Depends on customer’s creditworthiness
Amount: According to customer’s needs and creditworthiness
Repayment period: Avalized draft can be issued long term when it is in favor of Public Institutions and Public Companies. For other legal entities Avalized draft will be short term.
Fees: According to document “Fees and Commissions”.
Calculation of fees
Fee is calculated and charged:
- in advance, one-off payment
- quarterly, in advance and on the last day of the current quarter for the following quarter
Contracted Interest rate for delay: Contracted Interest rate for delay is calculated according to document “Interest rates”.
Required security instruments depending on customer’s creditworthiness:
- Cash collateral
- Assignment of receivables
- Counter – Guarantee
- Other collateral