Millennium Bank offers promotional bid bonds with no hard collateral

Companies with a turnover of minimum EUR 500,000 participating to bids can now benefit from Millennium Bank’s Bid Bonds promotional offer. Clients are not required any hard collateral and the bid bonds’ maximum limit can go up to RON 450,000, depending also on the company’s turnover and needs for issuing letters of guarantee. As a consequence, the bid bonds can be issued very quickly after the client’s request, said the bank in a statement.rnrnBesides this, the offer has a competitive pricing, with a granting fee of 0.6% from the total facility value and an issuance fee of EUR 25 (for bid bonds below EUR 5,000) or of EUR 50 (for bid bonds above EUR 5,000). The eligibility conditions are highly accessible and, in order to benefit from the special pricing for an entire year, clients only need to have an agreed flow through their accounts opened with Millennium Bank.rnrnBid Bonds promotional offer is available for six months, until September 2012.rnrnMillennium Bank’s trade finance offer also includes specific products such as letters of credit, letters of guarantee, collections, conditional payment orders, but also specific non-cash facilities such as cash collateral limits, multioptions limitsj, the bank added.