EXPORT RECEIVABLES DISCOUNT PROGRAM
Project Status : Active
Updated Date : 28.04.2021
EXPORT RECEIVABLES DISCOUNT PROGRAM
DETAILS
Within the scope of our Export Receivables Discount program, we discount the forward receivables of our exporters arising from the export of capital goods.
What is the purpose of the program?
Within the scope of our Bank's Specific Export Credit Insurance Post Shipment Risk Program, we discount the forward export receivables arising from export transactions insured against commercial and political risks on the basis of sales contracts at the post-shipment stage.
What is Company Limit?
There is no company limit within the scope of our Export Receivables Discount program.
What is the Transaction Lower Limit?
15.000 US dollars
How long is the term?
The maximum term is determined by the parties on a transaction basis, within the limits set in the OECD Officially Supported Export Credits Agreement.
Goods Covered:
We finance capital goods of Turkish origin (whose country of origin code is 052 in the customs declaration form) to be exported from Turkey.
Credit Rate:
We determine the lending rate according to the loss indemnification rate to be determined as a result of the risk analysis to be made within the scope of the Specific Export Credit Insurance Post Shipment Risk Program. We apply the lending rate as 90% for transactions where the loss indemnification rate is determined as 95%, and for transactions where the loss indemnification rate is determined as 90%, we apply the lending rate as 85%.
Guarantee:
The primary guarantee for the loan is the assignment of export receivables and rights that have arisen / will arise within the scope of Specific Export Credit Insurance regarding export costs.
Conditions Regarding Export Transactions with Principal Repayment Period of Two Years and Over:
Within the framework of OECD regulations, for transactions with a principal repayment period of two years or more, at least 15% of the export price must be paid to the exporter by the importer firm or its bank before the discount date.
In export transactions with a principal repayment period of two years or more, it is expected that the terms of the export price will be paid in equal installments that correspond to a maximum of 6 months.
If the principal repayment period is less than two years, it is also possible to stipulate a single payment term in the sales contract.
Term and Interest Rate
Within the scope of the program, we discount export receivables with a maximum of 120 months remaining to maturity for capital goods as of the discount date. For countries classified as high-income by the Organization for Economic Cooperation and Development (OECD), the maximum maturity can be 60 months.
