№ |
Terms of Conducting Factoring Operations |
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1 |
Users of Factoring Services |
Business entities operating for more than a year |
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2 |
What is Factoring Services |
A type of banking service for financing business entities (suppliers), in which they grant the bank (financial agent) the right to receive payment accepted by the buyer under deferred payment contracts concluded in accordance with the law.
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4 |
Currency of Factoring Services |
National currency |
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5 |
Duration of Factoring Services |
Up to 180 days |
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7 |
Minimum Amount of Factoring Services |
50 million UZS |
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8 |
Discount Rate for Factoring Services |
Up to 90 days - not less than 6% Up to 180 days - not less than 8% |
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9 |
Requirement for Payer's Debt |
The payer must not have overdue payables |
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10 |
Required Documents |
- a contract for sale, work, or service provision, signed by the payer and drawn up in accordance with regulations; - documents confirming the transfer of goods, completion of work, or provision of services (goods transport invoices, copies of powers of attorney, acceptance acts, etc.); - a list of the payer's bank accounts opened with other banks; - additional documents may be required during the review of the credit application. |
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11 |
Turnover and Debt Burden of the Business Entity* |
Business entities with stable cash flows must have a debt burden ratio of not less than 2 |
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12 |
Bank Account in the "Microcreditbank" System |
Must be the primary account |
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13 |
Profit in the Financial Statement (Form №2) |
The financial year must end with profit |
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14 |
Requirement for Balance Sheet as of the Last Reporting Date |
The residual value of fixed assets must be not less than 125% of the factoring amount |
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15 |
Debt of Related Organizations |
Related organizations must not have debts under "Cartoteka-2" or overdue loan liabilities. |
*DB = average monthly turnover of the borrower's account / average monthly payments for factoring services and existing loans.