Guide Guarantee Fund investment cooperation
Guarantee Fund investment cooperation, according to Act No. 47302 dated 03/01/1390 10/12/1388 Council of Ministers and the instructions of the Central Bank in order to implement social justice, economic independence and community support productive investment and employment, especially support youth and university graduates as one of the institutions affiliated to the Ministry of Cooperatives, Labour and Social Welfare has been formed and is active.
Guarantees issued by the Guarantee Fund of investment cooperation are as follows
Fund to accept requests the issuance of a guarantee only for cooperatives and cooperative action by the Union.
In all warranties issued (excluding the guarantee letters of credit), the beneficiary of the guarantee to be only one of the government agencies, public institutions, public companies, more than 50 percent of shares belong to the state and the company is listed and OTC. Accepting funds support the agricultural sector and the national unions as concerned only if the conclusion of a multilateral agreement and in accordance with its provisions is possible.
Documents required for filing warranty:
Public documents for filing is as follows:
Application for issuance of a guarantee by the applicant, including obtaining the approval of the minutes of the Board of Directors of the company's guarantee
Written notice to the beneficiary of the guarantee issued by the Fund (if the bank does not agree).
Photo identification documents cooperative and its directors (the statute, the official gazette, national card administrators).
The last company balance sheet, profit and loss statements
The latest billing with banks and potential obligations and checks the status of a possible return to banks and cooperative credit institutions and managers
Picture valid title deeds or lease the plans or whereabouts of the applicant
Deposit required half as cost per thousand amount of expertise
Completed questionnaires requesting issuance of the guarantee
Specific documents filed with the type of guarantees issued are as follows:
The credit guarantee provided by the Bank's image of the file that contains the plan is approved
Evidence based on the company's ability to implement the relevant agreements
Tariff of fees for the first year credit guarantee to the amount of 0.5 to 1 percent per year for the years after 0/15 to 0/5 percent rate is the amount of the guarantee. Other charges 50 percent fees warranties of awarded under the latest regulations of the Central Bank is the banking system.
After investigating the case on the basis of the validation made the necessary guarantees taken.
Click here to get the prospectus of the fund services