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OTP Bank’s services on aval of promissory notes with a limited circulation give you the opportunity to receive the deferral of taxes and other mandatory payments within the period provided under Ukrainian law.
Your company can use the service for aval of promissory notes:
- For the amount of VAT while importing goods into the customs territory of Ukraine;
- For the amount of VAT and customs duties in carrying out operations under tolling scheme;
- For the amount of excise duty;
- For the amount of other promissory notes, circulation of which is limited and promisee under which is state tax administration, the Customs or other state organization.
Using the services of promissory notes aval creates more favorable conditions for enterprises operating with goods under tolling scheme in foreign economic relations and import of goods into the customs territory of Ukraine.
Planning operations on aval of promissory notes is often carried out simultaneously with the working capital financing.
Besides, our clients actively use multicurrency loans within one limit.
The main terms of aval of promissory notes:
Term of financing:
- A general tenor of limit - from 1 to 3 years;
- A term for redemption of each promissory note – within the tenor stated by Ukrainian law.
Currency of financing:
Pricing:
- Is determined as a commission for aval of each promissory note (based on the annual interest rate). The commission rate for aval of each promissory note is defined according to the term for its redemption (differentiated by 30 days steps).
The amount of commission for the borrower depends on its financial standing, the duration of the promissory note and the quality of the collateral.
Collateral:
- Pledge of fixed assets (entire property complex, real estate, equipment, vehicles, agricultural machines);
- Pledge of goods in circulation;
- Pledge of property rights claims on deposit accounts;
- Bank guarantee of loan repayment;
- Financial surety (corporate guarantee) of a company acceptable for the bank.
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