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Micro placements

GENERAL CONDITIONS

CONDITONS FOR APPROVAL

  • Client – legal entity or entrepreneur operating for a minimum of one whole calendar year (from 01.01 to 31.12.)
  • Client has achieved profit based on last official financial report (annual financial statement) which includes operations during an entire calendar year as well as profit based on the last regular financial report
  • In last year Client wasn’t blocked for more then 9 days – in total
  • Total financing of operational capital, including requested loan must not exceed 30% of total of annual operating revenue of Client
  • Total financing of investments, including requested loan must not exceed 50% of total of annual revenue of Client
  • Total financing of operating capital and investment, including requested loan must not exceed 60% of total annual operating revenue of Client

NECESSARY DOCUMENTATION THAT CLIENT IS OBLIGED TO SUBMIT

  1. Client’s registration, including all changes with Business Registers Agency, no older then 3 months
  2. Incorporation enactment of Client
  3. OP form – signatures of all authorized person of Client
  4. Copy of personal ID cards of Client’s owners
  5. Financial reports for the last two years (if they exist) certified by National Bank of Serbia and stamped by them
  6. Regular financial reports and turnover at banks in a current year
  7. Certificate of paidtax (needed prior to loan disbursement)
  8. Consent to obtain report from Credit Bureau
  9. Loan application with annex
  10. Decision of competent body/person in company concerning a loan
  11. Other documents for disbursement of funds, issuance of guarantees…

(Documentation needed for Joint guarantor from 1 to 8)

MAXIMUM DEBT

Maximum total debt for Client/Group of related parties can aggregate up to EUR 75,000, total for all types of micro placements.

DEFAULT INTEREST

  • for due uncollected receivables with agreed interest rate: the agreed interest rate increased by 5 percentage points per year
  • for other due uncollected receivables: 1M market referential interest rate for the regarding currency, increased by 10 p.p. annually

Note:
Default interest includes unauthorized overdrafts.

FEES

The fees for services for placements, defined in the agreement signed with the client, are fixed.

Fee for noncompliance with the contracted level of business cooperation:

  • 0.5% semi-annually, to the total debt amount, under all agreements on loans and off-balance placements, with the balance as of 30th June and 31st December. In case of a framework revolving loan, as well as a loan/RSD overdraft on current account, the fee is calculated to the granted amount. The last agreed provision on establishment of the necessary level of agreed cooperation is applied to all agreements on loans and off-balance placements.

INSTRUMENTS OF COLLATERAL AND PAYMENT COLLECTION

  • Client’s bill
  • Bills of Client’s owner
  • Joint guarantee (payment guarantor)
  • Payment guarantor’s bills
  • Bills of owner of payment guarantor
  • Loan coverage with earmarked FX deposits of 100%
  • Guarantees of acceptable Bank
  • Pledge on movable assets
  • Court agreed mortgage or executable extra-judicial mortgage pursuant to executable pledge statement

according to solvency, risk evaluation and total debt of Client/Group of related parties.

Effective interest rate (EIR) calculated on 13/09/10.