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Bank guarantee of financial stability

Bank guarantee of financial stability

The bank guarantee of financial stability is a special type of bank guarantee issued in order to be submitted to Executive Agency Road Transport Administration at the Ministry of Transport and Communications for issuance of a Community license for international automobile carriage under Ordinance No 11 of 31 October 2002 for international carriage of passengers and cargo. Eligible as beneficiaries are legal entities, clients of the Bank, which apply for issuance of a Community license for international carriage in compliance with the Ordinance.

  • Prompt and facilitated issuance procedure;
  • Option for express issuance;
  • Acceptance of a wide range of collaterals;
  • Competitive fees and commissions;
  • No requirement for presentation of projected cash flows.
  • Amount: Up to covering the requirements of financial stability (FS) in BGN or EUR, i.e. FS is greater than or equal to 1, calculated according to a methodology based on Ordinance № 11 of 31 October 2002 for international automobile carriage of passengers and cargo;
  • Currency: BGN, EUR;
  • Validity term: 12 months from the date of issuance;
  • Language of the bank guarantee: Bulgarian/English;
  • Collateral: all types, permitted under applicable legislation.

 

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