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Discounting bills of exchange is a form of short-term financing in which we, at your request, purchase your received bills of exchange with a discount. You receive the discounted amount immediately, whereas the bills of exchange are sent for collection upon maturity.
Benefits
Improving liquidity By discounting bills of exchange, you acquire funds before the due dates, thus enhancing the cash flow of your company and being able to reinvest the money immobilised in receivables further into business.
Other options for purchase of your receivables Improve your cash flow and redirect funds into new business operations. Our services in the area of purchase of receivables also include purchase of letters of credit forfait, as well as purchase of receivables on the basis of invoices and other commercial documents - invoice discounting / financing.
Providing expert advice Years of experience and expertise in standard and complex transactions, our professional and trained staff and numerous awards in the field of trade finance vouch for a high quality of service.
Arrangement
You can send any questions about discounting bills of exchange and other types of purchase of receivables by email to tradefinance@unicreditgroup.zaba.hr.
Additional collateral instruments are not arranged with the holder of bills of exchange, except in cases when the assessment of the creditworthiness of the bill of exchange debtor would require additional collateralization.
The basic prerequisites for discounting of a bill of exchange are:
acceptable creditworthiness of the bill of exchange debtor
bill of exchange endorsed in favour of Zagrebačka banka
collateral instruments in the event that the assessment of creditworthiness of the bill of exchange debtor would require additional collateralization.
Use
A request for discounting of bills of exchange can be submitted only by the lawful holder of the bill of exchange (the payee).
We discount the following types of bills of exchange:
bill of exchange drawn and accepted – drawn bill of exchange that is accepted by the drawee
promissory note (own bill of exchange), drawn and accepted – drawn bill of exchange drawn to the drawer (the drawer and the drawee are one and the same person) who accepted it (as drawee)
promissory note (own bill of exchange)– bill of exchange whereby the drawer obliges itself to pay the bill of exchange amount. The drawer of own bill of exchange is accountable as the acceptor of the drawn bill of exchange.
Bill of exchange, drawn and accepted and promissory note, drawn and accepted must have a "no protest” clause.
The costs of discounting a bill of exchange are the interest and the fee. The interest is calculated in advance in the form of a discount for the period of time from the day of discounting of the bill of exchange until the maturity date of the bill of exchange, in accordance with the Interest calculation rules of Zagrebačka banka.
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