MKB has provided USD 10 mln international factoring facility to Vedi-Alco
Credit Bank of Moscow (MKB) has signed a USD 10 mln non-recourse export factoring agreement with Armenian supplier Vedi-Alco. The company will get financing at shipment and will grant a deferral of payment to the Russian buyer. In this transaction, a credit limit is only set for the Russian buyer. A non-recourse factoring arrangement provides a competitive advantage to the supplier in dealing with a Russian buyer. The supplier may opt for a deferred payment without taking any risk.
"Companies choosing a partner bank for international factoring look at the cost and quality of the service: document processing speed, promptness of financing, coordination across all transaction parties. This is especially important when customers only start working with each other, make first deliveries, – says Natalia Bakhova, Director of the Trade Finance Department. – The Bank provides financing and acts as the centre of expertise, ensuring smooth cooperation. This allows our customers to focus on doing business".