BAI Escrow Current Account
BAI Escrow Current Account is a credit to the short-term treasury that aims to meet the companies' operating needs.
The target audience are companies.
Credit is granted in Kwanzas (Kz).
The Account serves to prevent any cash shortfalls.
The amount made available is negotiable by the Bank, depending on the risk of the operation and the analysis of the company's performance.
- Acquisition of merchandise and raw materials from local suppliers;
- Support in increasing the liquidity level;
- Coverage of the cash flow deficit for payment of wages;
- Letter of Credit coverage with short-term settlement;
- Facility in increasing stock levels;
- Continuous production capacity for the company;
- Continuity in marketing, therefore eliminating stockouts;
- Comfort, security, tranquility and reputation.
- Being a BAI’s customer for at least 6 (six) months;
- Positive assessment of the company's risk profile;
- Consignment of revenues above 70% of the average monthly billing.
❑ Letter of request addressed to BAI that mentions:
- a) the amount requested;
- b) the purpose of the credit;
- c) the intended term;
- d) the guarantees one can offer the Bank;
- e) explanation of the source of the cash flows necessary to settle the requested funding;
- f) statement: “I declare that I know the content of article 11 of Law no. 3/14, of 10 February - Law criminalizing the offenses regarding money laundering and terrorist financing".
❑ Company history and brief future perspectives;
❑ Participation in other companies and / or related entities;
❑ Management Curricula;
❑ Commercial Certificate with a minimum validity period of 3 months;
❑ Extract from the minutes of the General Meeting authorizing the management to request the financing (in the case of private limited companies);
❑ Up-to-date licenses, permits or other mandatory approvals for the exercise of the activity.
❑ Negative certificate with a validity period of 3 months;
❑ Model declaration 1 or 2 from the last tax year.
❑ Reports and accounts of the last two years signed by the TOC and management;
❑ Opinion of the external auditor if the company complies with the requirements established by law (in Decree No. 38/00 (art.1) and Presidential Decree No. 147/13 - Major contributors);
❑ Extract from the minutes of the General Meeting approving the reports and accounts of the two past years; if there are no audited report and accounts;
❑ General analytical balance sheet for the last two financial years or financial statements
forecast to date;
❑ Most recent analytical balance sheet for the current year;
❑ Real and estimated 12-month treasury map.
❑ Copy of insurance policies on properties / equipment.
Public procurement (Law No. 9/16 of 16 June) (if applicable)
❑ Contract approved by the competent body with the Court of Auditors' permit in accordance with the law.
❑ The maximum term for repayment of principal plus interest is 12 (twelve) months;
❑ Interest is calculated and paid monthly according to the use of funds and capital paid at maturity
❑ Blank promissory note, signed by the company and endorsed by the partners (and married spouses in communion of acquired goods)
❑ Property mortgage
- Certificate from the Land Registry Office with a maximum seniority of 3 (three) months;
- Matrix Registration Certificate (AGT);
- Evaluation report.
❑ Pledge of financial investment in the Bank (identification of accounts, deposit holders and amount);
❑ Pledge of equipment (respective identification with evidence of the value on company letterhead).
❑ Other (specify and present evaluation).
- a)The amount of the guarantee (s) must be greater than 80% of the amount of the requested credit.
- b) One or more guarantees should be considered, according to their sufficiency and the perceived risk of the operation;
- c)If the guarantee indicated does not appear in those listed, complementary documentation will be indicated by the Bank.
The associated costs are according to the current BAI Operations Price List in force
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