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Experts suggest bills – PJSC "Ukrsotsbank", UniCredit Bank™, specialist position


How the bill turns into a real alternative to crediting of working capital, explained Natalia Tikhovska – the Head of Factoring & Bills Department of Corporate Business Center in PJSC “Ukrsotsbank”, UniCredit Bank™

An efficient business of modern company is hard to imagine without the usage of various financial instruments. The client usually comes to a bank for typical and standard products and such approach does not always match his/her actual needs. A high level of bank specialists’ professionalism – is a pledge of efficient cooperation between the bank and the client.

There are moments when the client needs to find a solution for the company under non-standard scheme. Such issues of supporting optimization and cheapening working capital are the main task for company’s financial managers. However, such situation is not extraordinary for PJSC “Ukrsotsbank”, UniCredit Bank™, as supporting company’s sustainability, its current trade activity – this all is solved by our bank. Our bank has a number of financial instruments at its disposal, basing on which the client can be offered an optimal solution especially for his/her business, and bank experts will help to solve such issues as: significant size and non-optimal structure of debit/credit indebtedness, high expenses for interests under loans, impossibility to assess the level of purchasers’ solvency, etc. The client may choose a wide range of operations in the product line of guarantees, letters of credit, bills, factoring, use scheme calculations, providing the usage of several operations or products at a time, which in fact are the analogue to a classic form of “commodities-money-commodities” formula, and embrace a number of contractors: from supplier to final buyer.

Usage of bill payments is a bright example of such cooperation and efficient engagement. During the last several years the market of agrarian industry has become the most active market segment, which uses bills. For foreign companies concentration on commodities sale, balanced debit and timely finalized credit indebtedness – are the basic rules of business management. Many companies overcome this problem thanks to the usage of banking loan, which is expensive enough. Usage of bills became an alternative to such calculations. PJSC “Ukrsotsbank”, UniCredit Bank™, having its wide network, provides an operative support to agrarian enterprises from sale of bills, rendering consultancy services, avalizing, discounting and accompanying, to repayment of bills, including such operations as domiciliation, keeping, expertise, encashment, and work with notaries, etc.

Working with large agrarians, the bank understands complexity of that business, its solvency, profitability, level of company risk, attitude of top-managers to their responsibility and reputation.

Avalizing the bills of agrarian enterprise, the bank bears responsibility not only in front of the bill drawer, but his/her supplier – for the trust to the agrarian, security of his/her payments, as not only two participate in bill payments, but it is simultaneous cooperation and engagement of all actors, stated in the bill, consequently, the responsibility is really high. The bank makes a thorough analysis of the company, which is worth of such cooperation, and prudently distinguishes the size and terms of avalizing. However this does not mean that the bank prefers only “the best enterprises”. Cooperation is something more…it is trust, it is dialogue, and it is teamwork!

It should be noted that bill differs from the other financial obligations for its uniqueness: it is a direct liability of the bill drawer to pay the debt on time, stated in the bill. Bill avalizing is a proof that the bill drawer will execute the obligations in full scale. That is why the bill is referred to the category of liquid financial instruments and securities. Concerning bank bonus – everything depends exclusively on bank risk concerning the company (the drawee of a bill). Bill avalizing refers to the category of credit operations and is included to the ordinary credit portfolio of the client.

PJSC “Ukrsotsbank”, UniCredit Bank™, offers its clients bill schemes using “simple” and “transferable” bills depending on the terms and quantity of participants and provides a complex support to the clients. Such level of servicing simplifies and speeds up the work with bills for the clients, especially if the buyer and supplier are far from each other territorially. By this the bank increases the level of mutual trust and ensures the execution of all legislative demands.

The awareness of Ukrainian companies with peculiarities of bill turnover is not very high; in this connection the role of a bank, as an expert in these issues, plays an important role. Our bank will further improve the professionalism of its employees to maximally satisfy the clients’ needs and support the international level of the bank, as an integral part of UniCredit Group.

Date: 11.11.2013

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