05.01.2021 Ankara
“Guaranteed Supply Chain Financing Agreement with Paraf Commercial Credit Card” was signed between the Union of Chambers and Commodity Exchanges of Turkey (TOBB) and Halkbank. 1.5 million businesses under the umbrella of TOBB will benefit from the agreement, which offers the seller the flexibility to pay with collection assurance and a maturity of up to 18 months.
The ceremony between TOBB and Halkbank, in
which the agreement was signed, was conducted online.
TOBB President M. Rifat Hisarcıklıoğlu
said that thanks to Halkbank Paraf commercial credit card, the problems
experienced by tradesmen in their transactions such as futures trade, taking
out loans from banks and cheques promissory notes will end.
Hisarcıklıoğlu stated that this card makes
the supply chain work safely.
“This card opens the way for buyers and
sellers to shop safely. In this way, we will sell our goods safely without
needing to keep track of cheques/promissory notes, without dealing with
collection problems. We will charge the price of the goods we sell in advance
or in installments with Halkbank guarantee, without the risks collection. Those
who want to buy goods will not have to find a loan from the bank or whether the
seller will accept their cheques. With this card, they will receive their goods
and pay with flexible maturity, up to 1.5 years. In short, when you need to buy
goods, you buy with this card without paying. And the seller will sell his
property safely and collect his money from the bank without worrying about who
it is. Thus, both the buyer and seller will relieve their cash flow.”
Hisarcıklıoğlu said that this is an
example of a win-win approach and that this card also offers its members other
discounts and advantageous campaigns.
Hisarcıklıoğlu stated that Halkbank added TOBB's
logo to this credit card in a welcome gesture, “All members of our Assembly will
be able to benefit from this system both as sellers and buyers within the limits
to be determined by HalkBank according to turnover and creditworthiness. This
system, which will secure the supply chain, will also help SMEs reduce loan
interest. Falling financing costs will encourage SMEs to invest and produce.
The financial stability of SMEs and therefore our country will be strengthened.”
- Up to 18 month term payment to the buyer
Halkbank General Manager Osman Arslan also
said that with the agreement, as the people's bank, they brought a collection
guarantee to the seller in the supply chain and the flexibility to pay the
buyer a term payment of up to 18 months.
While addressing the advantages they will
offer TOBB members, Arslan said:
“The card of this agreement will be the
Paraf SME Credit Card with the TOBB logo on it. Paraf SME Credit Card with TOBB
logo will provide flexible installments and maturity opportunities for
purchases to the owners. On the other hand, Paraf SME POS will offer an
advantageous POS price model specific to its member businesses. With these
services, which will regulate cash flow between TOBB member buyers and sellers,
all commercial transactions in the supply chain will be carried out with Halkbank
assurance and Paraf advantages.”
Arslan stated that all campaigns and
facilities of the Paraf Commercial Cards Family, which consists of Paraf Trades
and Paraf Business together with Paraf SME, will also apply to 1.5 million TOBB
member enterprises which are the engine of the Turkish economy.
Stating that the coverage of responsible
banking understanding will expand further with this agreement, Arslan said, “Today,
as it has been for 82 years, it allows us to support the real sector for more
production, more employment and exports. This deal lets us get closer to our
goals. We entered 2021 with such a big step. From now on, we're going to take
big, solid steps forward. As HalkBank, we will achieve all our goals one by one
in order to contribute more to our country's economy.”
- Benefits for sellers and buyer companies
Vendors will have the opportunity to sell
goods and services in advance, installments or futures and to sell with POS in
4 different models according to customers' cash cycles in multiple years.
Operational risk and financing costs will
be eliminated by collecting money with Paraf Commercial Credit Cards instead of
money transfer, cheques, promissory notes, letters of guarantee.
Collections of vendor companies will be
secured with a special Paraf Commercial Credit Card limit that can only be used
exclusively for the seller. If necessary, customer loyalty will be ensured with
the limit definition of closed circuit, valid only in member business.
By accepting POS sales as collateral, more
cost-effective loans as well as accounting and registration convenience will be
granted.
Buyer companies will have the opportunity
to buy cost-free, futures goods while providing easy access to financing.
Up to 540 days of installments, maturity
or flexible maturity will be provided for purchases of goods and services, as
well as easy and cost-effective trading with Paraf Commercial Credit Cards
instead of loans, checks, promissory notes, letters of guarantee, and
operational risks such as the risk of carrying cash will be eliminated.
Buyers will have the convenience of
regularly tracking and accounting for goods purchase and payment records.