Buyer Credit

By means of this method of financing the Spanish exporter collects in cash the financed amount whereas the foreign buyer obtains a credit under competitive conditions.

Financiable operations:

• Sale of capital goods, machinery, full production lines, industrial plants, vessels, planes, Spanish projects and technology
• Foreign goods or services and local expenses (in the importing country), with certain limitations.
• Exports of consumer goods or another type of exported goods or operations that, due to their characteristics, are not entitled to avail of the benefits of Crédito Oficial (, 2 pages, 97Kb), placing at your disposal products such as the Supplier Credit and other financing schemes customised to each project

Other considerations:

• The borrower will be one of our correspondent banks, by means of a Línea de Crédito Comprador (, 2 pages, 49Kb) previously established or, in certain cases, the buyer itself can act as borrower directly.
• In some of these cases it be necessary to obtain a bank guarantee to our satisfaction.
• With a Crédito Comprador (, 2 pages, 107Kb) up to 85% of the value of the commercial contract can usually be financed. The remaining 15% should be paid directly by the buyer.
• The repayment term will be set according to the country of destination and the amount of the credit and will be between 2 and 10 years.
• Maturities are six-monthly from the "date of commencement", which may either be the shipping date, the date of the sale invoice or the date of accpetance of a production line or industrial plant (in "turnkey" projects).
• The interest rate of the credit is usually fixed for the entire term and is regulated by the OECD Consensus, rates CIRRS(, 1 page, 49Kb), the currency and the financing term. Credits can also be granted at variable interest rates (revised six-monthly in line with the EURIBOR/Libor).
• Sometimes, it will be necessary to take out a credit insurance policy with CESCE or another insurer, to cover the credit risks. This insurance premium is usually borne by the borrower and can be included in the financed amount through the Buyer Credit Line, subject to the insurer's agreement.