Raiffeisen Bank 

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Infoline: 800 900 900

Commodity driven Finance against Agriculture Warehouse Receipt&Certificate

A loan repayable within one year for financing inventories of agricultural crops stored in agricultural public warehouses based on agricultural warehouse warrants in accordance with Act No. 307/2000 Coll., on agricultural warehouse Receipt&Certificate and agricultural public warehouses.

 

Benefits

  • Option of obtaining finance for storage of inventories of agricultural crops.
  • Obtaining of funds for purchase in period with advantageous prices.
  • The loan is fully or partially secured by the inventories that are the subject of financing.
  • The source of repayments of the loan can be the client’s income from the sale of the financed inventories.

 

The financing is intended for wholesale companies and primary producers of agricultural crops.

 

Drawing and repayment

  • The limit on drawing of the loan is set in the amount of 85% (exceptionally 90%) of the nominal value of the stored goods in CZK excluding VAT specified on the relevant agricultural warehouse warrant. Such limit can also be set as the maximum amount for drawings on the loan for one ton of goods.
  • Financing can be drawn in the form of
    • A loan provided in fixed tranches or
    • An overdraft
  • A loan is repayable no less than 5 working days before the final date of storage of the inventories specified on the agricultural warehouse warrant.
  • The source documents for drawing are, in particular:
    • The original of both parts of the agricultural warehouse warrant with a first endorsement for Raiffeisenbank (on the ownership certificate and debenture bond) as the pledgee – Raiffeisenbank then asks the operator of the agricultural public warehouse to record the first endorsement of the debenture bond in the stock book.
    • A copy of the purchase contract or invoice for the inventories specified in the agricultural warehouse warrant.
    • A copy of a licence of the Ministry of Agriculture for the operation of the agricultural public warehouse (upon the first drawing).
    • Sample signatures of the persons authorised to act for the operator of the agricultural public warehouse.
    • A copy of the operating regulations of the operator of the agricultural public warehouse where the inventories are stored (upon first drawing).
    • Copies of documents on insurance for the financed inventories with blocking in the bank’s favour.
    • Contract on deposit of security (ownership certificate).

Collateral

  • After the repayment of the loan, the bank hands back to the client originals of both parts of the agricultural warehouse warrant and asks the operator of the agricultural public warehouse to delete the endorsement from the stock book.
  • Pledging of the financed inventories supported by originals of the agricultural warehouse warrants with the performance of the first endorsement to Raiffeisenbank on both parts (on the ownership certificate and debenture bond), stored in the bank based on a contract on deposit of security.
  • Blocking of the insurance of stored inventories based on the agricultural warehouse warrants.

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