What is a letter of intent?
A letter of intent is a document indicating that the export transaction or project may be financed under the Buyer’s Credits. A letter of intent does not incur a financing commitment and the financial terms of a prospective loan will be determined according to the prevailing market conditions at the time of the official loan application.
We issue letter of intents in English language only. Depending on the request of our exporters, we can issue letter of intents in two different forms: with an annexed ‘‘term sheet’’ indicating the tentative financing terms or without a term sheet.
Letter of intents with a term sheet have a validity of 3 months while those without a term sheet are valid for 6 months. We can extend the validity period of our letter of intents, if our exporters demand such extension on valid grounds. We expect our exporters to apply in writing prior to the expiry date of the letter of intent and to pay the application fee again.
What are the advantages?
By issuing a letter of intent indicating our financial support, we help our exporters to gain competitive advantage while participating in international tenders or negotiating with their buyers.
What are the conditions?
We require our exporters to be established in accordance with the Turkish Commercial Code, to have a high commercial standing and sound financial management, and be experienced in their fields.
Our terms of financing are determined on a case by case basis. We provide financing on commercial terms and in accordance with the OECD Arrangement on Officially Supported Export Credits.
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- We expect our exporters to submit their application forms after filling out the form completely.
- International Trade Finance Letter of Intent Application Form (Turkish)
- International Project Loans Letter of Intent Application Form (Turkish)
(You will need to install the latest version of Adobe Reader in order to be able to save the form. See the latest version at http://get.adobe.com/reader/)
The processing fee for a letter of intent is 1.500 TL (non-refundable).
Bank Account Number
T.C. Ziraat Bankası A.Ş. Ümraniye Şubesi
IBAN TR76 0001 0007 1799 9003 0250 37
Frequently Asked Questions
What is the difference between letter of intents with a term sheet and without a term sheet?
Depending on the request of the exporters, the letter of intents can be issued in two different forms:
a) with an annexed "term sheet" indicating the tentative financing terms or
b) without a term sheet. Letter of intents with a "term sheet" have a validity of 3 months while those without a term sheet are valid for 6 months.
How the applications for letter of intents are evaluated?
The evaluation is based on the information submitted by the exporters and consists of the following steps:
It will be checked whether:
- the exporter has any social security or tax debt,
- a bill or check issued by the exporter is under protest,
- the exporter is prohibited to participate in official tenders.
- The organizational structure and technical capacity of the exporter will be examined.
- The projects realized in Turkey and abroad or the export transactions realized in the last 10 years by the exporter will be evaluated.
- The financial ratios and export figures of the exporter for the last three years will be evaluated.
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