Commercial discount
Faster collections
We help you carry out your collections when you really need them.
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Flexible advance
You can adjust the days of financing to the commercial papers’ maturity dates.
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Speed and simplicity in collections processing
You will save time and travel thanks to the online banking collection management service.
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Interests on deducted balance
You pay interest only on the deducted balance.
Features
- It allows to finance your business’ or company’s working capital, since it grants instant liquidity on your customers’ deferred collection sales by advancing their amount.
- It is formalised through a credit line with a maximum amount and maturity.
- The discount line can adapt to your financing needs: up to 90 days, between 90 and 180 days and more than 180 days.
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At the time of the advance, MoraBanc discounts the interest corresponding to the days between the account deposit’s date and the commercial papers’ maturity date.
See terms and conditions -
This operating procedure has two main advantages:
- Cost saving for the company, since the administrative expenses related to the collection management are taken on by the Bank.
- Savings on time and travel, since the commercial paper remittances can be processed through online banking.
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Application resolution within a maximum period of 7 days, as long as all required documents have been provided.
See required documents
Based on the commercial papers’ maturity date, the payer’s quality, their country of residence and the collateral their businesses can provide, the discount type to be applied and the expenses linked to the commercial papers’ collection management are discussed differently in each case.
You can discount commercial papers inside or outside Andorra.
The Bank has no obligation to accept those commercial papers or drawees it is provided with. It has the ability to reject those invoices it deems appropriate for rejection.
MoraBanc does not bear the risk of non-payment from the debtor’s side.
Financing will be subject to assessment and approval by MoraBanc.
In order to correctly assess your credit operation’s application, your account manager will need to be provided with a minimum required documentation.
Minimum required documentation for the Commercial discount line assessment
In case of companies with legal entities (public limited companies, private limited companies, etc.):
- Last tax year’s income statement and balance (and provisional financial statements from the current year).
- Accounts audit in case it is mandatory for the company.
You could also be required to present the last Corporate Tax and IGI (VAT equivalent) settlements and your employees’ contributions to CASS in order to verify that the payment of those tax liabilities is up to date.
In case of businesses whose owner is a private individual (freelancers and independent professionals) the following items will be required:
- Goods declaration statement
- Annual income and expenditure statement.
- Receipt of extraordinary revenue if necessary.
- Last tax year’s (and current year’s provisional) balance sheet and income statement in case it is mandatory.
If needed, the Bank will also be able to request additional information in order to carry out a proper economic and financial analysis of your company.
Apply
Write to us and we will contact you.
Information on the processing of personal data
In compliance with Law 15/2003 of 18 December on protection of personal data, the customer authorizes that the applicant’s personal data entered on this form will be incorporated into files owned and managed by MORA BANC GRUP, SA – MORA BANC, SAU (hereafter referred to as “MoraBanc”) to process the requested service and, if necessary, to comply with the contracts finally entered into, and also to ensure correct operational procedures.
The applicant expressly authorises MoraBanc to send him/her commercial and promotional communications for products and services and information on the Bank itself, social or other activities, in hardcopy by post or by electronic means (among others, short messages (SMS) to mobile phones, e-mail, etc.). This consent can always be withdrawn, without retroactive effect.
The fact of filling out this form implies that the applicant acknowledges that the information and personal data provided are true, accurate and correct; otherwise, MoraBanc declines all responsibility for the lack of truthfulness or correctness of the data.
The applicant authorises the data provided to be communicated or shared with third parties forming part of the MoraBanc business group, entities which are primarily active in the financial, insurance and service sectors. The applicant is considered as having been informed of this transfer of information by means of this clause. The applicant accepts that he/she may be sent information on any product or service marketed by these companies.
The data processing manager is MoraBanc. The applicant is hereby informed that the rights of access, rectification, suppression or opposition may be exercised in the terms established in current legislation.
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