Institution details
AOFI - Serbian Export Credit and Insurance Agency (AOFI)
Key facts
- Established in 2005
- Ownership: Public
Not Part of the OECD
Part of the Berne Union
- Head Office: 5, Ljuba Stojanovića Street, 31000 Užice
- +381 11 65 58 270
- https://www.aofi.rs
Latest update: 03/12/2021
rating type | rating agency | type | rating |
---|---|---|---|
Institution rating | S&P | Foreign currency | BB- |
Country rating | S&P | Local currency | BB- |
Products
- Export credit insurance
- Factoring
- Direct financing
- Guarantees
- Other products
Export Credit Insurance
- Covers foreign receivables of Serbian companies
- Credit term: Up to 180 days
Factoring
- Short-term financing based on receivables for invoiced and delivered goods
- Advance payment of up to 90% of the nominal receivables value covered
- Remaining 10% payable to exporter after the buyer makes last payment
Direct Financing
- Eligible companies must have exported over EUR 300,000 in the preceding year
- Loan size: From EUR 30,000 to EUR 2,000,000, or the equivalent in RSD
- Repayment period: From 6 months to 1 year
- Interest rate:
- 3% annually for export value over EUR 10 million
- 4% annually for export value from EUR 5 to 10 million
- 5% annually for export value up to EUR 5 million" - Single application processing fee: 0.7% of the total loan amount
- 51% or more of the value of goods being exported to be of Serbian origin
Guarantees
- Eligible companies must have exported over EUR 300,000 in the preceding year
- Guarantees of up to EUR 2,000,000
- Commission from 0.25% to 0.50% on covered amount
- Single application processing fee: 0.5–1.0% on the covered amount
Other Products
- Co-financing with the client’s commercial bank
- Refinancing through the client’s commercial bank
Modality | Tenor | Cover type | coverage |
---|---|---|---|
Insurance | Short-term | Comprehensive | 100% |
Insurance | Short-term | Political | 100% |
Guarantee | Medium/long-term | Comprehensive | 100% |
Direct loan | Short/medium/long-term | Comprehensive | 100% |