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Commercial guarantees

Eximbank offers the following bank guarantees, for the fulfilment of export transactions, typically to domestic small and medium-sized enterprises and large corporations with export sales, in accordance with Govt. Decree 435/2012 (XII. 29.):

  • Bid (tender) guarantee: a commercial guarantee serving as payment security in respect of the amount of bid security requested, by the issuer of a call for bids, as a prerequisite for bidding. Such guarantees are issued to the benefit of the issuer of the call for bids, as beneficiary.

  • Advance-repayment guarantee: a commercial guarantee that secures repayment of an advance payment made on the basis of an export/foreign trade transaction, in the event that the exporter, as obligor, fails to deliver or to do so in accordance with the terms of contract.

  • Performance guarantee: a commercial guarantee that guarantees the exporter’s contractual performance until the time of fulfilment and acceptance of the supply and/or service provision obligation outstanding on the basis of the export contract.

  • Warranty guarantee: a commercial guarantee that guarantees the fulfilment of the exporter’s payment obligations resulting from warranty and guarantee obligations following the delivery, in compliance with the applicable rules, of the object of the export agreement, or acceptance of the provided service.

Extent of the guarantee — The extent of the guarantee is determined in keeping with the given export transaction in every case, ensuring that the combined extent of commercial guarantees undertaken by Eximbank in relation to the transaction does not exceed 80% of the value of the export contract. The following rates are typically applied:

  • tender guarantee: 2-5% of the bid price;

  • advance-repayment guarantee: 15-30% of the export contract;

  • performance/warranty guarantee: 5-10% of the export contract.

Minimum amount of guarantee – EUR 150,000 / USD 150,000

Currency — EUR of USD (with the proviso that in the case of counter-guarantees, the payment obligation relates to the EUR or USD equivalent of the amount specified in the local currency).

Term – Determined individually in line with the export transaction, but the following terms are usually applied:

  • tender guarantee: 3-6 months;

  • advance-repayment guarantee: 1-2 years;

  • performance/warranty guarantee: 1-2 years.

Transactions excluded from financing – As specified in Annex 1/A of the Eximbank Business Regulations (“CLIENTS EXCLUDED FROM FINANCING”).

Clients excluded from financing – As specified in Annex 2 of the Eximbank Business Regulations (“TRANSACTIONS EXCLUDED FROM FINANCING”). Furthermore, clients excluded from guarantee provision in accordance with Section 3 (1) a) of Chapter 2 (“Common rules on guarantees that may be provided by Eximbank) of the Guarantee Decree:

  • Clients that have outstanding debts towards the state or Eximbank, resulting from the exercising of a previous state suretyship, state guarantee or counter-guarantee, at the time of concluding the guarantee contract,

A further condition for exclusion is if the client is in financial difficulty as defined in Section 6 of Govt. Decree 37/2011 (III. 22.).

Securities – Determined based on a case-by-case assessment. Securities may include, for example, a pledge on the receivables originating from the financed export, mortgage on property, pledge on current assets, collateral deposit, payment guarantee, credit protection bank guarantee, pledge on shares, assignment of insurance, etc.

  • Purpose of financing: guarantee assumption

Eximbank Zrt.

Cégjegyzékszáma:
01-10-042594, bejegyezve a Fővárosi Törvényszék, mint Cégbíróság által

Adószám:
10949638-2-44

Bankszámlaszám:
14800016-06000008-11111128
S.W.I.F.T. kód: HEXI HU HB 

MEHIB Zrt.

Cégjegyzékszáma:
01-10-042595, bejegyezve a Fővárosi Törvényszék, mint Cégbíróság által

Adószám:
10949621-2-44

Bankszámlaszám:
10918001-00000001-04530003

1065 Budapest, Nagymező u. 46-48. Tel.: +36 (1) 374 9100, +36 (1) 374 9200, Fax: +36 (1) 269 1198 E-mail: exim@exim.hu © 2019 EXIM Minden jog fenntartva

Eximbank Plc.

Bank account number: 
14800016-06000008-11111128
S.W.I.F.T. kód: HEXI HU HB 

MEHIB Plc.

Bank account number: 
10918001-00000001-04530003

H-1065 Budapest, Nagymező street 46-48. Phone: +36 1 374 9100, +36 1 374 9200 Fax: +36 1 269 4476, +36 1 269 1198 E-mail: exim@exim.hu © 2019 EXIM All rights reserved

Eximbank Plc.

Bank account number: 
14800016-06000008-11111128
S.W.I.F.T. kód: HEXI HU HB 

MEHIB Plc.

Bank account number: 
10918001-00000001-04530003

H-1065 Budapest, Nagymező street 46-48. Phone: +36 1 374 9100, +36 1 374 9200 Fax: +36 1 269 4476, +36 1 269 1198 E-mail: exim@exim.hu © 2019 EXIM All rights reserved

Dear Customers,

We deem it important to provide continuous professional support to you also in the current pandemic situation. Conditions negatively effecting undertakings, economic slowdowns or declines always highlight the role of state-backed financial institutions, such as that of EXIM. This countercyclical role - even in the case of a longer-lasting pandemic situation - is further strengthening.

Based on our 25-year export credit, financing and insurance expertise and our in- depth knowledge of international markets, we would like to assure you of the unchanged stability of our operation and partnership.

Already upon the declaration of the epidemiological emergency[1], the funding experts of EXIM – in close co-operation with the Ministry of Foreign Affairs and Trade – started to identify and elaborate the mitigating measures and programmes whereby we can help Hungarian enterprises return to their foreign markets immediately after the removal of the restrictions.

Furthermore, we inform you that under Government Decree of 18 March 2020 on immediate measures necessary for alleviating the effects of the coronavirus pandemic on the national economy[2], the Hungarian government provides for the extension of the capital, interest and fee payment obligations of debtors falling within the scope of the Decree arising from credit, loan or financial lease contracts existing at 24:00 on 18 March 2020  until 31 December 2020 (payment moratorium). The government also stipulates that any contract expiring within the period of the state of danger shall be extended until 31 December 2020.

Thus, we will continue our work in view of the Governmental Decree aimed at alleviating the effects of the pandemic on the total Hungarian economy and we will handle the implementation of the moratorium imposed on contracts falling under the scope of the Decree in the case of all our customers concerned. Following the official publication of additional legislation laying down the detailed rules of the provisions of the Government Decree, we will provide you with detailed information. Until then we would like to ask you for your kind patience.

It is important to emphasize that we are entirely at your disposal also in the present situation in case of fund requests or liquidity difficulties since the finance solutions of EXIM are also suitable for addressing the non-marketable risks.

Please contact us if you have any questions or requests.

info@exim.hu

[1] Government Decree 40/2020 (11 March 2020)

[2] Government Decree 47/2020 (18  March 2020)