Kardemir announced the foreign exchange-based sales conditions

Kardemir A.S. announced the details of the procedure for foreign exchange-based sales. Factory statement:

     Our product sales will be made on the basis of USD/ton + VAT.
     Payment method will be 30% in advance, 70% in 45 days or all in cash.
a) The payment of the 30% portion can be paid in cash in USD basis or in TRY at the CBRT foreign exchange selling rate valid on the day of payment.

b) A 0.5% discount will be applied to our all cash sales.

     No interest will be applied to our sales.
     In transactions to be made over DBS, an order can be taken up to 85% of the DBS limit amount allocated to the customer by the bank, depending on the possible increase in the exchange rate.
     In our billet sales, on the condition that 500 tons or more orders are placed, 30% cash and 70% deferred payment will be made in USD basis against a blocked check, company check + letter of guarantee or DBS(*).
     The Letter of Guarantee will be accepted on the basis of foreign currency; If it is given in TRY, the total material cost should be given in the amount of 15% more than the part corresponding to the forward part.
     Invoicing will be made over the CBRT foreign exchange selling rate valid on the invoice date; For the exchange rate differences that may occur between the invoice date and the payment date, our company or our customer will issue a currency difference invoice or a current account reconciliation will be provided by valuation according to the collection maturity.
 

(*) Currently, we have DBS agreements with the following banks.

Garanti Bank Inc.,

Ziraat Bank Inc.

Yapi Kredi Bank A.S.

Our work with other banks continues; In case of providing technical infrastructure in new banks, information will be provided separately.

Kardemir Inc.

Sales Department