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AOFI - Serbian Export Credit and Insurance Agency (AOFI)

Key facts

  • Established in 2005
  • Ownership: Public
Not Part of the OECD Part of the Berne Union

Latest update: 03/12/2021

Products

  • Export credit insurance
  • Factoring
  • Direct financing
  • Guarantees
  • Other products

Export Credit Insurance

  • Covers foreign receivables of Serbian companies
  • Credit term: Up to 180 days

Factoring

  • Short-term financing based on receivables for invoiced and delivered goods
  • Advance payment of up to 90% of the nominal receivables value covered
  • Remaining 10% payable to exporter after the buyer makes last payment

Direct Financing

  • Eligible companies must have exported over EUR 300,000 in the preceding year
  • Loan size: From EUR 30,000 to EUR 2,000,000, or the equivalent in RSD
  • Repayment period: From 6 months to 1 year
  • Interest rate:
    - 3% annually for export value over EUR 10 million
    - 4% annually for export value from EUR 5 to 10 million
    - 5% annually for export value up to EUR 5 million"
  • Single application processing fee: 0.7% of the total loan amount
  • 51% or more of the value of goods being exported to be of Serbian origin

Guarantees

  • Eligible companies must have exported over EUR 300,000 in the preceding year
  • Guarantees of up to EUR 2,000,000
  • Commission from 0.25% to 0.50% on covered amount
  • Single application processing fee: 0.5–1.0% on the covered amount

Other Products

  • Co-financing with the client’s commercial bank
  • Refinancing through the client’s commercial bank


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