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Interbank buyer credit

Interbank Buyer’s Credit is granted for the financing, indirectly through the buyer’s bank, of the purchase of goods and/or services supplied under a commercial contract concluded between the Hungarian exporter and the foreign buyer, and is usually secured by MEHIB insurance policy (type V). In this financing structure, Eximbank provides credit to the buyer’s bank, which lends it to the buyer.

Credit amount — Typically a minimum of EUR 1 million. In transactions exceeding EUR 20 million, Eximbank usually provides the credit in a co-financing arrangement with the involvement of commercial bank(s). Eximbank participates in the financing of transactions of less than EUR 1 million on a case-by-case basis only, mainly in relation to transactions that are important for their reference value.

Currency — EUR or USD.

Tenor — Typically 2-5 years (maximum 10 years), depending on the terms and conditions of the related commercial agreement. Tenor of less than two years are principally available for the funding of agricultural or relatively small-value manufacturing industry export transactions.

Interest — fixed, at CIRR (only in the case of tenor over two years), or floating, based on EURIBOR or USD LIBOR.

The extent of financing — In the case of financing facilities offered with a tenor exceeding two years at fixed CIRR interest, under the OECD Arrangement a maximum of 85% of the foreign trade/general contracting agreement may be financed.  A minimum 15% advance must be paid by the buyer at the start of performance. Local costs may – subject to individual appraisal – also be financed in part.

Certificate of origin — For export transactions financed by Eximbank it is necessary to certify the Hungarian origin of the product and/or services constituting the object of the transaction.

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)