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Discount loan

The Discount loan is intended for:

  • corporate entities which do business in the Slovak Republic

Characteristics of the Discount loan:

  • a short-term loan for financing trade receivables
  • Komerční banka discounts
    • inland bills of exchange (due within the territory of the Slovak Republic) in EUR
    • foreign bills of exchange (due outside the territory of the Slovak Republic, issued in EUR and in selected foreign currencies
  • the bank discounts a bill of exchange subject to the condition that
    • it will be settled on the due date by the drawee
    • possible recovery of its settlement via a bill court shall be the duty of the discount applicant
  • the applicant submits the following documents to the bank
    • application for discount of bills of exchange including attachments required by the bank
    • document proving the legal subjectivity of the applicant
    • documents proving the commercial nature of the bill of exchange
  • only bills of exchange that conform to the valid Commercial terms and conditions of Komerční banka, a.s., pobočka zahraničnej banky for discounting bills of exchange shall be accepted, i.e. the following bills:
    • commercial
    • from clients of Komerční banka, a.s., pobočka zahraničnej banky
    • only daily (fixed) B/E
    • those with a remaining time until maturity of usually 1 to 12 months
    • those amounting to at least EUR 8,000
    • inland B/E containing a “no protest clause” which frees the owner (the bank) from the obligation to protest in the event of non-payment
    • drawn up in foreign currency – containing an effective clause for the event that the currency stated on the B/E is different from the currency of the payment location
  • price, interest and other fees:
    • the level of the discount commission is governed by the Price list valid at the time the Discount loan is provided
      • this is a non-returnable processing fee
      • the client pays this in the form of a deduction from the bill amount on discount
    • the client pays the lump sum deduction from the bill amount on discount as well as interest
      • daily interest is calculated using the method of 365/360 days
      • interest is deducted for the period starting on the date of discounting and ends on the date of payment
      • the authorising location decides on the final level of the interest rate used for deduction
    • the following may be billed in the case of foreign bills of exchange
      • a KB fee for collection of the B/E – according to the Price list valid at the time the loan was provided
      • DHL fees
      • collection expenses of the foreign bank
      • any possible related expenses

On the basis of the contract on the Discount loan, the bank is authorised to debit the discount applicant’s account by the outstanding bill amount if the discounted bill is not paid by the accepting party on the due date.

Advantages of the Discount loan:

  • access to liquid funds
  • standard means of security not usually required

The Discount loan allows you to:

  • pre-finance part of receivables from supplier-customer relations before their maturity

How to establish/arrange a Discount loan:

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