Short-Term Export Credits

Short-Term Pre-Shipment Rediscount Program

This pre-shipment financing facility is being executed within the framework of an additional limit to the post-shipment discount limit extended to Türk Eximbank by the Central Bank of Turkey. The program which requires an export commitment aims at providing support to Turkish manufacturers, exporters and manufacturer-exporters with maturity up to 180 days in the pre-shipment base. Promissory notes issued by exporters on behalf of Türk Eximbank, which have the aval of banks possessing a short-term letter of guarantee limit with Türk Eximbank are discounted under this limit. This program covers export transactions based on cash against documents and irrevocable letters of credit. Such transactions including those based on cash against goods may also be discounted from Türk Eximbank's own resources after evaluation. Export receivables with a maturity of up to 120 days by Central Bank of Turkey and up to 180 days are discounted from Türk Eximbank's own sources on LIBOR+spread, where spread is determined by Türk Eximbank.

Last saved: July 06, 2005