FORFAITING

  • You will get the money before your receivable is due, and the tasks of administration and collection are transferred to Raiffeisenbank
  • Possibility of further funding if other credit lines are not available
  • The political and commercial risks associated with the receivables are transferred to Raiffeisenbank

PRODUCT INFORMATION

Raiffeisenbank purchases short-term and mid-term domestic and foreign receivables arising from the supply of goods and services before its maturity and without recourse to assignor. The financing includes administration and the collection of the purchased receivables. For foreign receivables, we use insurance provided by EGAP, a. s. or commercial insurance companies.

The principles of forfeiting:
 We purchase the agreed part of a receivable; for domestic receivables VAT can be included.
 The documentation related to the purchased receivable must be legally conclusive.

 

We can purchase:
 Receivables usually documented by an invoice, handover protocol, shipping document, alternatively by acknowledgement of debt by the debtor issued in favour of Raiffeisenbank.
 Receivables accompanied by “abstract documents” (bills of exchange, letters of credit with deferred payment, or bank guarantees). These documents have to include an irrevocable commitment of the debtor or its bank to pay without protest.

Price conditions are calculated individually according to the transaction structure, the debtor’s creditworthiness and the period to maturity or repayment schedule of receivables. Fees are usually charged as of the day of purchase of the receivable.


Security:
 When purchasing foreign receivables, Raiffeisenbank requires insurance by EGAP, a.s. or commercial insurance.
 If the risk associated with the receivable is not acceptable for Raiffeisenbank, the receivable can be purchased with recourse to assignor.

Contact details of our specialists:
Ivana Hádková (Ivana.hadkova@rb.cz, phone: +420 234 401 160)
Renata Zeithammerová (renata.zeithammerova@rb.cz, phone: +420 234 401 438)