Joint Stock Commercial Bank AK BARS offers favourable terms and conditions for raising international facilities from foreign banks for the financing of its clients' short-term projects. Facilities are attracted both for general purposes, and for the financing of a wide variety of its clients' short-term commercial transactions.
Short-term international trade financing is a loan issued, or a credit line set by a foreign , to a Russian importer/exporter, or to a bank, for the financing of its clients' international trade contracts.
Types of short-term financing:
- L/C with post-financing;
- discounting of L/Cs with deferred payments;
- tied loans refinanced by foreign credit institutions.
Short-term trade financing from AK BARS Bank includes:
- optimal low costs; extensive network of correspondent banks offering financing;
- choice of the optimal method of contract payments;
- opportunity to defer payment for up to 2 years;
- the possibility of risk minimisation in cases of non-payment or non-delivery.
- The period of the company or a business group's (several companies under one owner) genuine operation in its field of business should be not less than 3 years.
- Break-even business for the last 4 quarters.
- Absence of overdue commitments to appropriated or off-budget funds.
- Importer addresses the Bank with an application for financing of foreign trade contract for export of goods/services out of Russian Federation.
- Importer delivers package of documents to the Bank.
- Credit Committee of the Bank makes a decision concerning financing of the project.
- In the case of the Credit Committee of AK BARS Bank and the Credit Committee of a foreign bank approving the financing for the project, all the required documents between the Importer and AK BARS Bank are signed.
- Financial statements for the enterprise for the last 3 years under review (audited statements if any);
- Copy of foreign trade contract;
- Information on the types of security guaranteeing the refund of loan facilities;
- Other documents at the Bank’s request.