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VÚB offers business financing product to simplify your supplier/customer relationships. These products help increase your market competitiveness, while removing the exposure to the risk of failure to fulfill stipulated contractual obligations. You will receive advice about favorable payment terms and VÚB will suggest a suitable form of financing your business in both domestic and foreign markets.

This product lets you obtain the financial resources to fulfill export contracts. These funds are used to buy material and raw stock, secure manufacturing and finance export receivables.

Advantages

  • Receive credit to perform export contracts even before the receivable is accrued
  • Access to financial resources even if the supplier has a low credit score
  • Repayment tied to customer remittances
  • Option of insuring against customer political and commercial risk through the SLOVAK REPUBLIC EXIMBANK
  • If a bank guarantee is issued for the loan by the SLOVAK REPUBLIC EXIMBANK, less security will be required

Lending conditions

  • Contract signed by the customer
  • Acceptable payment terms (payment through a letter of credit or secured by a bank guarantee is an advantage)
  • Credit up to 80% of costs incurred in purchasing materials and subcontracting
  • Purpose loan, for instance against subcontractor and material purchase invoices
  • Repayment through incoming customer remittances
  • Insurance may be taken out with the SLOVAKIA EXIMBANK to eliminate customer payment risk
  • Lending may be contingent on the issue of a bank guarantee for the loan in favor of VÚB


If you are interested in pre-export financing, contact the nearest VÚB branch office or the Export Commercial Financing Department.

Contact

VÚB, a. s.
Department 3801 – Export and Commercial Financing
Mlynské nivy 1
829 90 Bratislava 25
Tel.: 02/5055 2625, 02/5055 2281, 02/5055 1558
Fax: 02/5055 2091
E-mail: tradefinance@vub.sk

Either a foreign bank provides export credit or funds are lent directly to your foreign customer. Such lending enables you to pay goods you receive immediately after they are supplied. Either the foreign bank or the customer will then repay the loan to VÚB in agreed installments.

Financing mainly involves the export of capital goods, machinery or technology. Lending usually covered up to 85% of the contract value, for contracts worth over €1,000,000. A prerequisite is insurance taken out with the SLOVAK REPUBLIC EXIMBANK and payment in advance by the customer of at least 15% of the contract value.

Advantages

  • VÚB provides you funds to pay for the supplied goods as soon as they are delivered and export documents are accepted
  • Either the foreign customer or foreign bank incurs the debt.
  • VÚB is exposed to the risk of nonpayment alongside the EXIMBANK
  • Customer lending enables any foreign customer to repay the loan over the long term
  • Interest expenses are lower than the interest expenses provided by the bank in the country where the customer is located

Contact

VÚB, a. s.
Department 3801 – Export and Commercial Financing
Mlynské nivy 1
829 90 Bratislava 25
Tel.: 02/5055 2625, 02/5055 2281, 02/5055 1558
Fax: 02/5055 2091
E-mail: tradefinance@vub.sk

In addition to lending and factoring, you can also use discount invoicing to finance your receivables. This involves purchasing your receivables before they mature.

This type of financing lets you assign the receivable to VÚB Banka, which will then pay you the value of the invoice, reduced by a discount.

Advantages

  • Funds paid to you immediately when the receivable is accrued
  • Funds provided to you up to 100% of the invoice value
  • Provides a more liquid balance sheet and speeds up cash flow
  • Improve your market competitiveness by providing deferred payment (30 or more days)
  • No collateral needed other than the receivables themselves (where their creditworthiness is acceptable to VÚB)

Prerequisites from invoice discounting

  • Business contract concluded with the customer with clearly defined payment terms
  • Agreed maturity date for invoices at least 30 days
  • Receivables coming due
  • Customer consents to assigning the receivable
  • Good relationship with the customer based on mutual trust
  • Customer pays its obligations before they mature


If you are interested in pre-export financing, contact the nearest VÚB branch office or the Export Commercial Financing Department.

Contact

VÚB, a. s.
Department 3801 – Export and Commercial Financing
Mlynské nivy 1
829 90 Bratislava 25
Tel.: 02/5055 2625, 02/5055 2281, 02/5055 1558
Fax: 02/5055 2091
E-mail: tradefinance@vub.sk

Do you need to provide your business partner with a bank guarantee in order to fulfill your obligations under the contract or any other contractual documents?

VÚB offers bank guarantees with the following benefits

  • Assurance that contractually stipulated obligations by buyers are fulfilled
  • Reduced exposure by the seller to business risk to the very minimum
  • Improved supplier competitiveness by enabling bids for contracts unattainable by less creditworthy candidates
  • Enhanced tender conditions and ultimately better contract conditions

Nevertheless, clients have to seek (even with VÚB’s help) the most acceptable conditions, presupposing:

  • Advice has been asked at a pre-contract stage to discuss conditions to be guaranteed in individual countries, including fees charged by local banks, available at VÚB upon request
  • Guarantee-related fees are reflected in the contract price
  • Provided guarantees (if subcontracted) cover only the client’s obligations and not the main contractor’s obligations, too
  • The contractor has been convinced to accept a direct guarantee, unless such a guarantee is prohibited by law
  • The client has offered the contractor (even with VÚB’s assistance) its own wording of the guarantee, unless none was proposed
  • The client has acknowledged the wording of the guarantee to be negotiable, even though the guarantee was proposed by the contractor

VÚB Banka requires the following criteria to be always met:

  • Guarantee will be issued in a certain amount it will undertake to pay if a payment is made from the guarantee
  • The beneficiary cannot require VÚB to fulfill any liabilities other than the commitment to pay a specific amount up to the amount guaranteed
  • The guarantee must be clearly and unambiguously worded, especially with respect to the conditions under which the guarantee will be paid
  • VÚB Banka has no obligation itself to act as an arbiter between its client and the contractor
  • The guarantee should expire either on a specific date mentioned therein or when a document has been submitted proving the occurrence of a certain, undisputed event (such as occupancy authorization)
  • VÚB Banka provides guarantees in almost every country around the world. VÚB Banka employees are ready to provide clients with all necessary information about the appropriate wording of the guarantee unless standard text is required. VÚB Banka also advises guarantees from other banks, including verification of when they become final and an assessment of the wording.

Guarantee conditions

  • Acceptable creditworthiness as determined by the financial statements
  • Evidence of the ability to meet the contractual obligations secured by the guarantee
  • Securing the guarantee, including interest and fees - any eligible collateral as agreed by VÚB and the client including instruments permitting enforceability of creditor's rights (such as a blank promissory note or notary record)