Credit lines
Credit line is a credit form, which is issued by separate tranches (parts) within a fixed limit of issue or limit of indebtedness during the agreement term.
The Bank offers the following kinds of lines of credit:
With a limit of issue (non-revolving lines of credit) – on terms of phased credit issue within a fixed limit.
The Borrower gets the fixed credit ceiling, which can be issued during the agreement period. The issue of credits (tranches) is counted as progressive total. Every line of credit tranche is issued upon the application without making a credit agreement. Interest is charged from the remainder of the credit debt every morning and paid for actual day’s number of using the funds. Interest is paid monthly. After depletion of credit limit the issue of credit is to be suspended. Credit is repaid according to schedule or upon the credit agreement termination. Advanced repayment is possible.
With limit of indebtedness (revolving lines of credit) – upon the paying back of a credit part an issue of another credit within the limit of one-time debt during the agreement term is possible.
The Bank determines the limit of one-time debt on all the issued and existing loans (tranches), given under the agreement. Every line of credit tranche is issued upon the application without making a credit agreement. The aggregate amount of indebtedness on line of credit is to be within fixed limits of indebtedness. The tranches issue is suspended after the agreement termination. Advanced repayment is possible. Interest is charged from the remainder of the credit debt every morning and paid for actual day’s number of using the funds. The interest is to be paid monthly. The credit is repaid according to schedule or upon the credit agreement termination. The revolving lines of credit allow financing a number of operating cycles.
