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Purchase of the receivable from the contract

This page is primarily destined for customers/Buyers of the our Czech clients/exporters, who wish to finance the transaction with help of our bank through purchase of receivables from export contract. General terms of the product are available on Czech mutation of this page only.

Dear foreign customer, if you have been directed to this page by your Czech partner/Seller that means he intends to sell the receivables stemming from the export contract concluded with you, to our bank. This operations usually enables him to propose you longer payment maturity.

Despite all financing documentation will be signed with Seller, we are going to bear the credit risk of your company and therefore analyse your economic situation. Following lines should help you to understand the process.

1. Approval phase:
During this phase we shall evaluate your credit rating. To be able to do that, please provide us with:
• Current extract form a local commercial register of companies
• Annual report for the last 2 years
• Financial statements for the last 2 years in full extent including the enclosures
• Statement of auditors for the last 2 years
• Balance Sheet and Profit & Lost account for the last quarter of current accounting period and for the same quarter of the previous accounting period
• Accepted loans and other liabilities (exept for standard commercial liabilities with business partners listed according to the maturity dates
• Structure of short-term receivables and liabilities split to those due and those overdue. Please split the receivables overdue according to their delay as follows:
Up to 30 days, up to 60 days, up to 90 days, up to 180 days, up to 360 days and more than 360 days. Please add explanatory comments stating the main debtors and creditors
• List o main buyers and suppliers having a share of 10% and more on the total sales, respectively on the total supplies.
• List of the off-balance sheet liabilities (guarantees, leasing, promissory notes, etc.)
• Affirmations and full ownership structure of your company (up to final beneficiary) available in the file bellow - sheet "Affirmations"

Once we receive the above information, we process full credit analysis. It is customary, that we request 2-3 round of further explanatory comments and clarifications of your business model. Direct contact to CFO, Head accountant or other personnel acquainted with the economic situation of your company is appreciated.

2. Purchase of receivable:
When the deliveries from the export contract have been fulfilled by the Seller, the final invoice is usually issued. At this point, we require you to acknowledge/confirm your debt. The wording will be provided to you by the Seller.

3. After-purchase requirements:
a. Pay the deliveries in line with the export contract
b. Provide us with financial statements on quarterly and annual basis

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