Prominvestbank offers endorsement of promissory notes issued to document debt for goods supplied, works completed, and services provided, and all types of promissory notes issued for budget payments required by the Tax Code of Ukraine and other normative documents of Ukraine.
Our bank endorses the following types of tax promissory notes:
- for operations with customer-supplied raw materials;
- for import of goods to the customs territory of Ukraine for repair purposes;
- for receipt of non-denatured ethyl alcohol;
- for operations involving use of ethyl alcohol to manufacture certain products;
- for receipt of bioethanol to manufacture biofuels;
- for receipt or import of light and heavy distillates to manufacture ethylene;
- for import of equipment and parts not manufactured in Ukraine by shipbuilding enterprises.
Advantages for customers:
- optimization of tax and duty payments, funds are not diverted from the company’s operations;
- an instrument of paying import duties, taxes and other dues to the state tax administration;
- reduction of expenses required to borrow current funds, deferring loans to settle accounts for operations with commodity promissory notes.
The Bank may endorse the whole or part of the promissory note amount.
Endorsement is available at any time: when promissory note is drafted, issued, or in any subsequent phase of its circulation.
Customers applying for endorsement of tax promissory notes are required to provide the following documents to the bank:
- originals of promissory notes presented for endorsement;
- promissory note registers;
- document package required for Bank loans, including financial standing and collateral documents.
Customers presenting commodity promissory notes for endorsement are also required to provide documents, confirming that promissory note was provided as payment for goods supplied, works completed, or services provided (contracts and shipping documents, and other materials) and so on (at the bank’s discretion).
The bank endorses promissory notes on the basis of endorsement agreement with the borrower. The agreement may be made for a certain term (general endorsement agreement) and/or for endorsement of specific promissory notes (separate endorsement agreement).
