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Availing of bills

Bill avalization is an undertaking by the guaranteeing bank in addition to the payer’s obligations, i.e. it is an undertaking to pay a bill of exchange in full or in part instead of one of the parties obliged under the bill in case the payer fails to honour the bill as per terms stated in the bill.

Settlements by bills avalizing is simple in view of docflow and provide the payer with possibility to receive a commodity credit without withdrawing funds from its turnover.

Special issues of exchange bills in Ukraine:

  • according to the bill legislation in Ukraine, bills can be issued only for goods delivered (operations, services);
  • in Ukraine bills are filled up only in Ukrainian;
  • payments under bills in Ukraine are provided only in non-cash form;
  • bills are issued only on a special formsheet, which can be purchased in bank office. Samples of promissory note and bill of exchange formsheets.

Piraeus Bank offers services of bill avalization for enterprises, which operate in the agricultural sector on the following terms:

  • Avalization subject: a money debt issued in the form of a bill for the de facto delivered goods, namely: fertilizers, plants protections agents, plunting materials;
  • Types of notes: promissory note and bill of exchange formsheets;
  • Currency of bill availed by Piraeus Bank: UAH;
  • Amount of avail: amount of availization for each bill of exchange can be less or be equal to the debt under the bill and should not exceed the amount of set availing limits;
  • Availing limits: from 500 000 UAH to 20 000 000 UAH with validity period 12 months;
  • Collateral: deposit, real estate, agricultural equipment, transport, equipment and other liquidity property.

Generally, Piraeus Banks customers along with the bill avalization utilize the product “working capital facility“.

Tariff of the fees:

Commission for credit transaction (for setting promissory notes avalizing limit) 1% from the amount of limit (minimum UAH 2 000) Fee is calculated of the established limit amount / of the increasing limit amount. Fee to be paid before avalizing of first Promissory note. Tariff is applied in case of setting limit for promissory notes avalizing. In case of setting limit with ability to utilize credit funds in terms of product “Credit for working capital financing agricultural enterprises SMB” commission is payable on the size of the maximum limit amount for financing working capital, and a separate fee for setting avalizing limit does not apply.
Commission for promissory note avalizing (for the commodity) (monthly or one-time payment):
monthly payment: 0,3% of the promissory note amount (minimum UAH 250) for each month (the whole or part). Fee is calculated of the face value / of the increased amount of Promissory Note for each month (whole or part) of period of promissory note avalizing.
one-time payment:
up to 6 months 1,8% of the Promissory note amount (minimum UAH 1000) Fee is calculated of the face value / of the increased amount of Promissory Note. Fee to be paid before promissory note avalizing for the total period regardless of the actual period of the promissory note.
up to 9 months 2,6% of the Promissory note amount (minimum UAH 1000) Fee is calculated of the face value / of the increased amount of Promissory Note. Fee to be paid before promissory note avalizing for the total period regardless of the actual period of the promissory note.
up to 12 months 3,5% of the Promissory note amount (minimum UAH 1000) Fee is calculated of the face value / of the increased amount of Promissory Note. Fee to be paid before promissory note avalizing for the total period regardless of the actual period of the promissory note.
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(calls from fixed line phones within Ukraine are free).
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