Corporate Banking

Mode:

Simple credit, line of credit and revolving line of credit.

Currency:

Cuban pesos (CUP) and Cuban convertible pesos (CUC).

Maximum term:

18 months.

Intended for:

Entities of the Central State Administration, state enterprisesand other entities linked to the Central State Budget.

Purpose:

Used to finance the current assets of productive, commercial and service entities, for production, sale and collection cycles not longer than 18 months.

Requirements:

  • Incorporation and inscription in the established registers.
  • Operate a bank account at the BANDEC branch where the request was filed.
  • Appointment and signature of the persons authorized to contract and pay debts.
  • Application form.
  • Documentation requested for risk analysis.
  • Credit agreement once it is approved.

Guarantees:

  • Banking: Letters of guarantee, contingent letter of credit.
  • Non-banking: Letters of credit or domiciled and accepted promissory notes; bills of exchange or guaranteed promissory notes; transfer of payment collection rights; solidarity guarantees; escrow accounts.

Mode:

Simple credit, line of credit and revolving line of credit.

Currency:

Cuban pesos (CUP) and Cuban convertible pesos (CUC).

Maximum term:

Up to 10 years.

Intended for:

Entities of the Central State Administration, state enterprises, incorporated enterprises, and other entities linked to the Central State Budget

Purpose:

To finance expenses associated with pre-investment studies, construction or modernization of real estate; purchase of fixed assets; expenses associated with the implementation of the project and contribution to the share capital, for the purpose of formalizing fixed assets.

Requirements:

  • Constitution and inscription in the established registers.
  • Operate a bank account at the BANDEC branch where the request was filed.
  • Appointment and signature of the persons authorized to contract and pay debts.
  • Application form.
  • Documentation requested for risk analysis.
  • Credit agreement once it is approved.

Guarantees:

  • Banking: letters of guarantee, contingent letter of credit.
  • Non-banking: Letters of credit or domiciled and accepted promissory notes; bills of exchange or guaranteed promissory notes; transfer of collection rights; joint (equal liability) guarantees; escrow account.

Currency:

Cuban pesos (CUP) and Cuban convertible pesos (CUC).

Intended for:

Budgeted units, organizations, joint ventures and foreign companies, Cuban state enterprises, Cuban private companies, CPA, CCS, UBPC, non-governmental organizations and associations, among others.

Main Features:

  • The provision of funds is: $ 1,000 CUC or CUP.
  • Fees and commissions will be charged to the client for the different operations carried out from the client’s account.
  • Check and transfer logs will be sold to the client for payments.
  • The client will receive a statement of the account according to the frequency and route agreed.
  • Accounts operate with a credit balance and will not accept overdrafts.
  • The account holder can authorize third parties to make provisions.
  • Accounts can be opened indistinctly, individually or jointly.
  • In case of accounts in CUC, withdrawals of funds for expatriation will be made in keeping with the regulations of the Central Bank of Cuba.
  • For accounts in CUC, in operations with other currencies, the exchange rate in force on the day of the operation shall be applied in the currency concerned against the convertible peso.

Requirements:

  • Application to open an account.
  • Initial deposit.
  • Presentation of the entity's legal documentation.
  • Registration of signatures authorized to operate the account.
  • Presentation of the license issued by the Central Bank to operate in foreign currency (accounts in CUC).
  • Adhesion contract.

This account enables customers without a bank account at BANDEC branches to deposit their income, which will be transferred to their centralized account at BANDEC or at another bank.

Currency:

Cuban pesos (CUP) and Cuban convertible pesos (CUC).

Intended for:

Cuban legal persons.

Main Features:

  • It will receive the client’s deposits in foreign currency either in cash or in other forms of payment.
  • The balance of the technical account will be transferred to the client’s account with the periodicity previously agreed; leaving the account with zero balance until the client’s next deposit.
  • The balance of the account shall be transferred to other accounts at BANDEC or at other banks.
  • Transactions other than the deposits and transfers of funds agreed will not be admitted.

Requirements:

  • Application form for the service.
  • Formalization of the contract.
  • To hold a current account at a BANDEC branch or at another bank.