Raiffeisen Bank 

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Infoline: 800 900 900

Purchase of Receivables with Recourse

Raiffeisenbank purchases single short-term and medium-term receivable before the due date arising from deliveries of goods and services, with a right to reassign them (recourse) to the client. The financing includes the administration and collection of the purchased receivables.

Benefit

  • A client’s receivables are paid sooner and care for administration and collection of the receivables is transferred to Raiffeisenbank.
  • Improvement of the client’s position with customers, option of providing a supplier loan.
The purchase of receivables with recourse enables a significant reduction in the need for tying funds to cover significant receivables from customers.

Principles of purchase of receivables with recourse

  • The whole amount of a receivable is purchased, including VAT on a receivable from a domestic debtor.
  • Legal demonstrativeness of documentation linked to purchased receivable.
  • Payment for an assigned receivable is made into the client’s current account, usually in two amounts in the form of:
    • A contractual advance, which represents 80-90% of the receivable’s nominal value and bears interest until the payment of the receivable by the debtor into an account of the bank, or until another contractually agreed date, and
    • The remaining balance, immediately after payment of the receivable is received from the debtor into an account of the bank.

Collateral for financing

In the event a debtor does not make a payment for a purchased receivable into an account of the bank, even during the set number of grace days after its due date, Raiffeisenbank is entitled to reassign it to the client, including debiting its current account in the amount of the provided financing for the advance.



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