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CREDITING AND GUARANTEE
OPERATIONS FOR CORPORATE CLIENTS
Crediting and guarantee operations for the companies.
“AZERIGAZBANK” JSIB offers wide spectrum of crediting services, which
allows to fully satisfy the demands of its customers in loans. The
loans and guarantees are granted in both local and foreign currency.
“AZERIGAZBANK” is interested in cooperation with
reliable borrowers and that’s why the bank makes the definite and
important claims while considering the application for credit. When
crediting, especial attention must be paid to the solvency of the
client, project, the purposeful usage of credit recourses and cooperation
with the client (teller services, currency operations, usage of Bank’s
plastic cards).
Preference is given to the clients who have their
own business, many and successful years of work experience, own capital
and who cooperated with the Bank before.
The terms of crediting
The percentage rate for credit and guarantee usage is defined individually
for every borrower, depending on collateral and financial performance
of the client in accordance with the set interest rates of the Bank.
Considering the order for credit or guarantee granting the Bank prefers
the following borrowers:
- Enterprises and organizations which are the clients of the Bank
for not lessthan 3 months.
- Profitable activity of the company during 4 quarters.
- Absence of overdue debts to budget and non budget funds.
- Real assets of the company exceed the value of crediting project
in not less than two times.
- The company must have the business-plan of the project, specifications
of necessary equipment, draw up estimated and authorized documentation.
- Enterprises located and carrying out their activity in Baku.
* Credit Committee of
the Bank will consider your order during 2 weeks.
* Bank has a right to require
some more additional documents, necessary for the positive answer.
* The availability of the account
in the bank is necessary.
TO BE CONSIDERED FOR CREDIT GRANTING YOU SHOULD:
- Contact Credit department of the Bank and negotiate with the Bank
afterwards.
- Prepare all necessary documents.
- Complete the application for credit(guarantee) granting.
THE DOCUMENTS NECESSARY FOR CREDIT GRANTING:
- Application form.
- Certified copy of the document confirming the existence of the
agricultural subject.
- Balance sheet for the last month, balance for the last quarter,
report on profits and losses, financial report for the last year
certified by the auditor.
- The copy of the certificate on registration in the Ministry of
Taxes with “Identification Number” indication.
- The Charter.
- The document, confirming the right to sign credit documents.
- Consent of persons, having the right for the leaving as deposit
the property.
- The document, certifying title for the mortgaged real estate.
* When signing the agreement
you should have insurance contract for the subject of insurance of
security collateral for the sum of pledge and crediting period
Types of collaterals and guarantees
As collateral Bank accepts the property belonging
to the Borrower (third party) on title, including:
- Fixed Assets
- Auto transport
- Immovable property
- Guarantees of
- Organizations and enterprises
- Individuals
CREDIT FOR THE REINFORCEMENT OF THE CIRCULATING ASSETS
- Credit for the reinforcement of the circulating assets is granted
from 3 to 6 months.
- Minimal amount of the credit is 1000 US dollars or its manat
equivalent.
- The percentage rate is calculated with regard to flows of money,
circulations of accounts and cash receipts, and also to financial
stability of the borrower.
- The current income of the borrower is the source of repaying
the credit and interest rate.
- Interest payment must be maid every month and credit repaying
on time table agreed with Borrower.
- By the Borrower’s request the Bank is ready to consider the opportunity
of opening of the credit line.
CREDIT FOR THE ACQUISITION OF FIXED ASSETS
- Credit for the acquisition of fixed assets is granted for not
more than 1 year.
- Minimal amount of the credit is 1000 US dollars or its manat
equivalent.
- The percentage rate is calculated with regard to flows of money,
circulations of accounts and cash receipts, and also to financial
stability of the borrower.
- The current income of the Borrower is the source of repaying
the credit and interest rate.
- Interest payment must be paid every month and credit repaying
on time-table agreed with the Borrower.
On the 8th of May 2003 Azerigazbank has signed the agreement for
the credit line with International Financial Corporation of the World
Bank. In the frames of the signed agreement the bank takes into
consideration the applications of corporate customers and also of
individual customers for existing business on the following terms:
- Credit is granted for the period of more than 12 months
- Maximal credit amount is $150 000
Guarantees
Guarantees are the special direction of the Bank activity.
According to the acting
of the Republic of Azerbaijan, Bank guarantee provides the execution
by the Borrower of his or her main liabilities (to the beneficiary).
For guarantee the Borrower pays fees to guarantor.
In the civil code of the Republic of Azerbaijan
the following peculiarities of this form provision are foreseen: irrevocability,
non-transference of rights, moment of entering into face.
Bank has prolonged the license with the State Customs Committee of
the Republic of Azerbaijan and from 05 Aug 03 re-started issue of
guarantees in favor of the above said organization.
- Maximal term is up to 3 months
- Maximal amount per customer - $50 000 or equivalent amount in
manat.
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