Category: Trade credit line

The trade credit line offers its customers long-term, flexible interest rates and the opportunity to get the desired amount of credit depending on the size of their business.

Trade credit line

Benefits

Flexible and favorable terms

Trade credit line

Terms and conditions

Trade credit line	MNT	USD	EUR	RMB	JPY
Credit maximum	Depends on the size of the business, capital, financial capacity, and trade turnover.
Commercial credit line opening service fee / no service fee is charged for opening a line backed by term deposit as collateral /	1% of the line amount up to a maximum of 1,500,000 MNT	1% of the line amount up to a maximum of 1,000 USD	1% of the line amount up to a maximum of 1,000 EUR	1% of the line amount up to a maximum of 5,000 RMB	1% of the line amount up to a maximum of 5,000 JPY
Commitment fee/ annually/	0%-2.0%
Term of trade credit line	Up to 60 months
Fee for changing the original loan terms	0%
Application fee	30,000 MNT	10 USD	10 EUR	100 RMB	1,000 JPY
Credit recording enquiry fee /during loan analysis procedure/	Individual – 1,000 MNT Corporate- 1,000 MNT
Note: – If the interest rate of the external source line is 0%, the customer’s commercial loan interest rate may be 0%.

Pre-shipment loan terms:

Pre-shipment loan terms	MNT	USD	EUR	RMB	JPY
Maximum amount	Within the credit lines, the amount of trade agreements and transactions shall not be exceeded
Interest rate /annually/	Source cost + 2.0% -4.0%
Loan term (depending on product turnover)	Up to 60 months
Service fee	0%
Application fee	30,000 MNT
Full and partial prepayment fee	According to the terms of the foreign bank interest rate
Credit recording enquiry fee /during loan analysis procedure/	Individual – 1,000 MNT Corporate- 1,000 MNT
Note: The cost of resources includes tax costs associated with attracting external resources, interest and non-interest costs, and required reserve costs.

Trade credit line

Post-shipment loan terms:

Post author By Tsolmonbayar
Post date May 13, 2022
No Comments on Post-shipment loan terms:

Post-shipment loan terms	MNT	USD	EUR	RMB	JPY
Maximum amount	Within the credit lines, the amount of trade agreements and transactions shall not be exceeded
Interest rate /annually/	Source cost + 2.0% -4.0%
Loan term (depending on product turnover)	Up to 60 months
Service fee	0%
Application fee	30,000 MNT
Full and partial prepayment fee	According to the terms of the foreign bank interest rate
Credit recording enquiry fee /during loan analysis procedure/	Individual – 1,000 MNT Corporate- 1,000 MNT
Note: The cost of resources includes tax costs associated with attracting external resources, interest and non-interest costs, and required reserve costs.

Trade credit line

Requirements

Running the business in the last 12 months and continuing it as a going concern
Good credit history and score and other evidence of ability to repay the loan
Collateral to satisfy the bank’s requirements
Other requirements from the bank on a case by case basis

Trade credit line

Required documents

Official request/amount, interest, term and collateral pledged should be mentioned/
Loan Application / Bank’s application /
Resolution of the Board of Directors on obtaining a loan. / Decision on the amount, interest, term, collateral of the requested loan and appointment of the person authorized to sign /
Copy of company certificate, copy of company charter / stamped by state registration office /
Copy of ID card of the person authorized to sign the loan agreement (founders, CEO, CFO, etc.), borrower’s application form (if legal entity)
Business licenses, plans and other documents
The purpose of the loan, contract, project, etc.
The market and competitor’s analysis
Tax reference
GCCA reference / in the name of the organization and shareholders /
Reference from GASR / on behalf of enterprises and major shareholders /
Financial statements of the company certified by the Audit and Tax Administration – / for the last 4 quarters, at the end of the last year /
Financial statements at the end of the year. These include: list of receivables, current assets, fixed assets, payables and liabilities and sales, unit cost, balance sheet for the last 1 year
Account statement / last 12 months /
Pledge of immovable property (if the pledged property is in the name of another organization, a copy of the company’s certificate, charter, decision and resolution authorizing to pledge)
Collateral historical and detailed reference
Pledged land certificate, contract and cadastral map
List and certificate of pledged machinery and equipment
Proof of tax payment in case of real estate purchase
Loan agreement and loan account statement if you have outstanding loans with other banks and NBFIs.
Other required additional materials