This product provides support to accredited Travel agents of IATA in the form of BGs to guarantee payments to IATA for all airline tickets sold on their behalf under the Billing and Settlement Plan (BSP) as well as Temporary working capital requirements needed to settle shortfalls on mature obligations on the BG.
- Facility Limit: Up to 50% of annual turnover in the immediate 12 months, subject to an upper limit of N500million.
Back up Overdraft shall be a maximum of 30% of the BG. - Facility type: Overdraft
- Maximum tenor: 365 days
- Collateral:
- Legal Mortgage on property (at least 150% Cover) or a cash collateral
- Personal Guarantee of the Managing Director of the Company supported with a notarized statement of personal financial net-worth (Applicable only for limited liability companies)
Chat with us on WhatsApp at 09153933333, Call us on 070077684387
