Current account
The current account for legal persons is a banking product used by legal entities to manage their payments, collections and cash reserves.
Advantages
- Complex financing solution, through a wide range of products which can be accessed under a single ceiling
- Flexibility and efficiency through:
- the possibility of accessing multiple credit products simultaneously, in various currencies, as agreed contractually
- the possibility of contracting any type of loan products agreed contractually during the facility drawing period, without requiring, at the time of approving the facility, to specify the particular products that will be accessed
- Reduced costs when establishing securities, by setting them up exclusively for the facility ceiling level, and not for the products granted under it
- Simplified approval process and contractual documentation for the products contracted under the facility
- Varied structure of securities accepted by the Bank (real estate mortgages, movable securities, personal guarantees - suretyship, bank guarantee letters, endorsement of promissory notes/bills of exchange etc.)
- Continuity in carrying out your current activity
- Specialized assistance from a BCR representative on choosing the optimal financing and guaranteeing solution for your company
- May be dedicated to multiple companies, if granted to a group of companies, under which a main borrower will be established, while the other companies will act as borrowers
Features
- Designed for financing current activity and carrying out specific projects
- Possibility of accessing varied products:
- Overdraft
- Credit line
- Non-revolving loans for financing current activity
- Discounting of bills of exchange and promissory notes
- Bank guarantee/counter-guarantee letters/stand-by letters of credit/endorsement of bills of exchange and promissory notes
- Currency:
- single currency - lei or foreign currency (EUR or USD)
- multiple currency - lei and foreign currency (EUR and USD)
- Revolving ceiling during the drawing period
- The creditting period comprises:
- the drawing period (revolving): during which the customer may request to be granted new products and/or extend/increase the existing ones, within the available ceiling of the facility; upon request, the drawing period may be extended, based on a new analysis;
- reimbursement period (non-revolving): designed for the reimbursement of the products granted under the facility
- Reimbursement of the facility: single rate and maturity set on the final day of the facility creditting period; the products granted under the facility may not exceed the maturity; they are reimbursed at due dates set up according to the schedules negotiated between the bank and the customer
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