Export Receivables Discounting Program

Within the scope of Export Receivables Discounting Program, we are discounting the deferred export receivables arising from the export of capital goods from the Republic of Turkey.

What is the aim of the program?

"Export Receivables Discounting Program", in the form of “supplier credit”, has been developed for the aim of diversifying products of our Bank. Within the scope of this Program, we are discounting the deferred export receivables arising from the export of capital goods from Turkey.

Under this Program, exporters assign the receivables arising from export transactions to Turk Eximbank, which in turn pays the receivable amount less the discount fee and the insurance premium to the exporter. Discounting shall take place only at post-shipment stage. This Program enables Turkish exporters to provide quick funding before the due date(s) of the export receivables.

What is the company limit?

There is not any company limit.

What is the threshold for this Program?

USD 15,000

How long is the term?

The term will be determined by the parties on transaction basis in accordance with the OECD Arrangement on Officially Supported Export Credits.

Scope

We are discounting deferred export receivables arising from the export of capital goods from Turkey (those “Origin Country Code” under the Customs Declaration Form of the Republic of Turkey is 052).

This Program is available for the exporters exporting capital goods of Turkish origin and incorporated in the Republic of Turkey.

Term and Interest rate

In line with the OECD Arrangement on Officially Supported Export Credits, in export transactions with a maturity of 24 months or more, the buyer shall make a minimum advance payment of 15% of the export contract value no later than at the starting point of the credit.

The repayments arising from an export transaction with a maturity of 24 months or more shall be made in equal installments with six monthly intervals.

Interest rate is determined on transaction basis, by taking into account the cost of funding of our Bank.

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Who is Eligible?

  • This Program is in the form of “supplier credit” and is offered to exporters, who are exporting capital goods and want to provide deferred payment opportunity to their foreign buyers (public-private).
  • Within the scope of this Program, foreign buyers could purchase goods on deferred terms and could pay the relevant amount over the year(s).
  • Throughout the Program, we are financing capital goods exported from Turkey (those “Origin Country Code” under the Customs Declaration Form of the Republic of Turkey is 052).

Who can apply for it?

In order to benefit from this Program, in the form of “supplier credit”, we expect the exporters of capital goods to apply directly to us.

Which Countries?

Exporters of capital goods are kindly recommended to contact with us on transaction basis.

Frequently Asked Questions

Who shall apply for the Program?

The exporter shall apply to us for the Program.

Which payment terms can be financed?

Within the scope of this Program, deferred export receivables, arising from

  • Irrevocable, non-transferable letter of credits, or
  • Bill of exchange, (i.e. “Cash against documents”), or
  • Open accounts transactions (i.e. “Cash against goods”) are discounted.

Is there any specific conditions for the letters of credit to be issued within the scope of this Program?

Letters of credit shall be irrevocable, non-transferable and subject to the relevant rules of International Chamber of Commerce (i.e. ICC, 2007 Revision of the Uniform Customs and Practice for. Documentary Credits, ICC Publication no.600). In general, apart from these aspects, there is not any specific condition.

Is it possible to provide discounting for export transactions with all delivery terms?

No, this is not possible. While delivery terms EXW, FCA, CPT, CIP, DAP, FAS, FOB, CFR and CIF can be subject to the financing, the terms DAT and DDP cannot be financed.

What is the threshold and upper limit of the Program?

The threshold to apply for the Program is USD 15,000 yet there is not any standard upper limit.

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