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Common transaction flow under buyer’s credit
scheme
* Subject to a loan agreement
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| 1 |
NLBI is initially approached
either by an exporter, borrower or borrower’s bank with
a request for extensions of financing, providing brief description
of the underlying transaction |
| 2 |
NLBI prepares an offer,
which is send to the borrower or his bank, stating conditions
of the loan agreement including pricing and required security |
| 3 |
The borrower confirms the
offer |
| 4 |
NLBI and the
borrower sign a loan agreement, subject to fulfilment of conditions
precedent |
| 5 |
The Borrower’s bank
issues an unconditional, irrevocable letter of guarantee to
the benefit of NLBI |
| 6 |
The Borrower sends to NLBI
a disbursements notice, signed by the borrower and the borrower’s
bank |
| 7 |
NLBI transfers the money
to the account (exporter’s or borrowers account) specified
on the disbursement notice. |
| 8 |
Borrower repays the loan
in accordance with the repayment plan |
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In case NLBI decides to
accept other form of security, this is provided directly by
the borrower to LNBI. |
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