Factoring

Form of Financing: By entering into a one-time factoring agreement.

Financing term: up to 120 days.

Repayment: In a lump sum, upon expiration of the financing term.

Purpose of financing: factoring services for entrepreneurs - a type of banking service for financing economic entities – suppliers on the basis of a factoring agreement in exchange for the supplier (hereinafter referred to as the client) assigning to the bank – the financial agent – the right to receivables for goods delivered, work performed, or services rendered, which have been accepted but not paid for by the payers.

Financing Method: Payment is made via bank transfer in the national currency.

Currency of Financing: National currency of the Republic of Uzbekistan — Uzbek som.

Discount: from 23.99% per annum (in national currency)

from 14.99% per annum (in foreign currency)

Late payment fee: calculated based on the project discount rate, increased by 1.5 times

Minimum funding amount: not specified.

Maximum Financing Amount: The factoring amount is determined based on the client’s creditworthiness or in the amount of the receivables.

Mandatory Requirements for the Borrower and its Activities:

• The borrower must have been registered as a business entity for at least 6 months.

• The borrower must have a demand deposit account (primary or secondary) at JSC “InFinBank.”

• No negative credit history.

• The borrower’s balance sheet must be liquid and operations profitable.

• No “Catalogue No. 2.”

• Creditworthiness class not lower than 3.

*If the creditworthiness class is below 3, the Bank may consider a factoring application provided that liquid collateral and officially registered pledge rights are submitted.

List of Documents Provided by the Borrower:

1. Application specifying factoring conditions and the enterprise’s consent to submit and receive records in relevant databases for credit history and financial statement analysis. (If the factoring service is provided with recourse, the same consent must be presented.)

2. Founding documents of the enterprise and documents confirming the appointment of authorized bodies (copies of resolutions and orders).

3. Minutes of the founders’ general meeting and the organization’s order on the use of the factoring service.

4. Financial statements of the enterprise as of the latest reporting date, including “Form 1: Balance Sheet,” “Form 2: Statement of Financial Results”, and a breakdown of receivables and payables, signed and sealed by the enterprise, with a certificate confirming submission of the reports electronically to the tax authorities.

5. Copy of signature specimens authorizing the right to sign contracts.

6. List of accounts opened in other banks.

7. If the initiator is the buyer (reverse factoring):

8. Documents confirming the delivery of goods, completion of work, or provision of services (invoices, waybills, copies of powers of attorney, acceptance certificates, etc.);

9. Letter from the Buyer (addressed to the Bank) regarding acceptance/agreement to pay the purchased receivables.

10. If the initiator is the supplier: - - List of supplier and buyer/payer accounts opened with other banks;

11. Signed purchase and sale agreement with the buyer, duly executed in accordance with established procedure;

12. Documents confirming the delivery of goods, completion of works, or provision of services (invoices, waybills, copies of powers of attorney, acceptance certificates, etc.), as well as confirmation from the buyer of acceptance/consent to payment (except for tripartite agreements involving the buyer).

To mitigate risks, the Bank may request additional documents.