Discount Bills of Exchange
PURPOSE
The Bank discounts the bills of exchange issued by creditworthy legal entities and entrepreneurs. Bills of exchange must be issued on the basis of a purchase and sale relation, signed agreement or invoice.
The Bank discounts the bills of exchange fully endorsed to the Bank.
TENOR
The bill of exchange due date cannot be less than 10 days from the date of endorsement to the Bank, nor can it be longer than one year.
AMOUNT OF LOAN
From EUR 1.000
CURRENCY
Loans approved in RSD without currency clause
INTEREST RATE (annually)
- uniform interest rate: 22% (EIR: from 24.73 % as of 13/09/2010)
The Bank performs disbursement to the Client total amount of bills and charges a discount at the agreed interest rate.
REPAYMENT
On the day of maturity of a bill, the Bank collects amounts of bills from the principal bill debtor, the guarantor, and other bill signatories.
The Client is obliged to pay to the Bank bill amounts in case the Bank does not collect these amounts from the principal bill debtor, the guarantor, and other bill signatories on the maturity day of a bill.
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