Bank Gospodarstwa Krajowego (BGK) signed with Feerum S.A. claims purchase agreement

Feerum S.A. is one of the largest producers of comprehensive drying and storage units in Poland and Europe. The company has signed an export contract for the supply of silos with the Ukrainian company Epicentr K LLC. The agreement concluded with BGK concerns the purchase of receivables under the contract.

– We help Polish exporters to develop business, we are currently with them in 69 countries on 6 continents. We are pleased to sign the next Government Financial Support for Export program, a claims purchase agreement financing export to Ukraine. In addition, for a considerable amount – over EUR 12 million. This is one of the largest BGK export transactions carried out so far on the Ukrainian market. The export support instruments offered by the bank enable exporters to offer better payment terms to the importer and eliminate the financial risk associated with the importer’s failure to pay the obligation – says Karol Rozenberg, expert on sales of trade finance at BGK.

Purchase of receivables by BGK reduces the risk of non-payment on the part of the contractor for the execution of the order. Money does not cross the border, and BGK pays funds directly to the account of the Polish exporter.

– – This is our second claims purchase agreement with BGK. In our opinion, a high-quality product combined with attractive financing is the key to success in many markets, including the Ukrainian market. Financing of this type gives us a competitive advantage over Western European companies. – says CEO of Feerum S.A. Daniel Janusz.

Thanks to modern solutions, Feerum from Lower Silesia alone produces almost 100 percent of their products.
– I am very happy that Polish companies operate in the Lower Silesian Voivodship that strengthen their export position on European and Eastern markets. Supporting them is very important for us. By helping them develop, we contribute to improving the socio-economic situation of our region.– adds Ewa Nowak-Iskra, director of Bank Gospodarstwa Krajowego, Lower Silesian Region.

The claims are insured by the Export Credit Insurance Corporation (KUKE). No other safeguards are required on the exporter’s side, which is an important facilitation for a Polish entrepreneur..

BGK press materials