• Currency: lei or foreign for receivables that are payable in foreign currency in Romania
• Ceiling: in the event of financing based on a framework credit agreement, the maximum ceiling allowable is resulted from the forecast flow of liquidities during the credit period
• Availability period of the framework credit agreement: maximum 1 year since the fulfillment of the drawing conditions under the agreement, with the option to extend with subsequent 1 year periods
• The payment terms provided in the commercial agreements/invoices must not exceed 90 days after delivery/issuing
• The credit on delivery documents is granted through:
  • separate credit agreement - for a single transaction
  • framework credit agreement, under a revolving system, in the event of multiple transactions
• The amount of each credit granted by the bank (under separate credit agreement or as an addendum to the revolving framework agreement) shall not exceed 80% of the value of the invoices relating to the delivery documents submitted for financing, including VAT.
• Upon determining the volume of the credit, the payment method specified in the commercial agreement will also be taken into account (advance payments, deductions from the nominal value of the invoice for good standing, the period provided in the agreement for the payment of goods/services delivered/provided etc.)
• To be granted:
  • only in the event of debtors that are approved in advance by the bank, taking into account their history of payments to the customer.
  • to customers with production/trade or service provision activities, having achieved a turn-over of at least 1 million EUR, in equivalent, per year (according to the most recent balance sheet or according to the balance submitted at the time of requesting the loan) and a good debt service towards the bank
• In the event of a framework credit agreement, the amounts reimbursed during the validity period, associated with the delivery documents under this financing, are used to balance out the approved financing ceiling.

Movable securities

• Assignment of receivables relating to the collections resulting from commercial agreements or from the financed invoice(s).
• Movable security without dispossession over the collateral deposit in which the assigned amounts shall be transferred

• Credit request, signed by the persons that are legally authorized to represent the company
• Documents that indicate the financial-economic status of the company (balance sheet, profit and loss account, trial balances). Depending on the case, the bank will request an audit report on the company or a certification of the balance according to the applicable legal regulations.
• The cash flow and the income and expense budget relating to the general activity associated with the period for which the loan is requested
• Approval to check the Central Credit Register
• Tax registration certificate (upon the first credit request and at least once a year)
• Contractual documents concluded between the customer and its commercial partners, under which the delivery documents submitted for financing are drawn up
• Delivery documents to prove the delivery/provision of services (commercial invoices, transport documents etc.)
• Agreement for the assignment of receivables on collection rights from invoices and/or commercial agreements
• The agreement for a movable security without dispossession on the collateral deposit used to deliver the amounts owed by the debtor toward the borrower and assigned by the latter in favor of the bank
• Any other documents as required by the bank