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CHARACTERISTICS OF LETTERS OF GUARANTEE
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| Comparative advantages |
Simple procedure and competitive conditions
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| Type of guarantee |
1. Payment, including and guarantee for providing of debt in customs procedure
2. Performance
- Bid (tender)
- Advance payment
- Good performance
- Good performance in a warranty period, etc.
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| Amount |
Unlimited
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| Currency |
MKD / EUR
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| Commissions when collateral is mortgage on property and pledge of movables |
Payment and Performance guarantee
Quarterly 1,2% of the amount, min. MKD 3.000, or Monthly 0,4% of the amount, min. MKD 1.000
Bid guarantee
Quarterly 0,6% of the amount, min. MKD 1.500, or Monthly 0,2% of the amount, min. MKD 600. |
| Commissions when collateral is deposit or guaranty by first class Bank |
Payment and Performance guarantee
Quarterly 0,3% of the amount, min. MKD 3.000, or monthly 0,1% of the amount, min. MKD 1.000.
Bid guarantees
Quarterly 0,2% of the amount, min. MKD 1.500, or monthly 0,07% , of the amount, min. MKD 600. |
Changes in conditions
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MKD 2.000 |
Application fee
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0,1% of the amount, min. MKD 600, max. MKD 50.000 once-off, upfront (for mortgage and pledge) MKD600 (for cash covered) |
| Management fee |
None |
| Collataral |
• Mortgage of real estate (land) according with appraisal of authorized appraiser , loan/collateral ratio not less then 1:1,5-1,8 depend of company creditworthiness,
• Deposit in MKD or other currency. |
| Required Documentation for Application |
• Request signed by company ‘s manager
• Registration document from the Central Register, not older than 6 months
• Authorized signature form certified by a notary public
• Tender documentation / pro-invoice/agreement and other documents, depends of the terms and conditions of guarantee.
When collateral is unmovable and movable
• Official financial statements for the last 3 years (if the company is active only 2 years, then it’s needed only financial statement for 2 last years)
• Interim Financial Statement
• Valid title deed/pro-invoice (for appraisal)
When collateral is deposit
Proof for deposit (copy of saving accounts or licensing by manager/ founder for taking possession of resources by denar / foreign deposit account of the company). |
| Required Documentation after approval |
• Original Registration document from the Central Register , not older than 14 days
• The original certificate that the firm is not in bankruptcy
• The original confirmation that the firm doesn’t have liquidation procedure
• Statement for (non)relation with the Bank (the Bank gives the form)
When collateral is unmovable and movable
• Original valid title deed (the latest date for the notary)
• The original certificate from the Cadastre, that property is not under mortgage
• Statement and/ Decision on obligation for the facility, establishing collateral, issuing bills of exchange and authorizing a person to sign the agreement, bills of exchange and notary public deeds
• Blanco bill of exchange with statement signed by
the company’s manager (The Credit committee can
request guaranteed bills of exchange)
July, 2011 |