Brief description of the product Fees, expenses Application, decision-making, contracting process Commitment of periods Main obligations after conclusion of the contract

Brief description of the product

Guarantee of payment for EU grants is furnished for domestic small and medium enterprises. In case the applicant partially or fully fails to meet the conditions set in the grant contract, resulting in the recovery of granted benefits, Start Zrt. makes a payment ammounting to the sum laid in the guarantee contract.

Start Zrt. provides guarantee of payment for a minimum of HUF 5 million to a maximum of HUF 100 million and for a term of maximum 7 years.


Fees, expenses

Guarantee of payment is issued against fee payments.

Application, decision-making, contracting process

1. Application is initiated by the client. After a successful appplication, the client (the applicant) provides Start Zrt. with an electronic- and a hardcopy of the completed and signed data sheet available from the homepage of Start Zrt. together with its appendices;
2. The client provides proof of payment of the evaluation fee to the account of Start Zrt.;
3. Following execution of points 1. and 2. and the reception of complete and correct application the decision-preparatory process begins at Start Zrt.;
4. Based on the risk and financial analysis conducted by Start Zrt. and following the evaluation of the documentation provided by the client, Start Zrt. makes a decision about the client’s application. In the event of Start Zrt. approving the application it submits a draft contract of the guarantee as an offer to the client, including the time available for accepting the offer;
5. Following the client’s acceptance of the offer outlined in point 4. Start Zrt. signs a guarantee contract with the client and issues an invoice against the initial payment of the guarantee fee. The client is required to settle the balance in 15 days.
6. Based on the guarantee contract, Start Zrt. issues a Guarantee Statement for submission to the intermediate body, which will be sent to the client in 5 days after the receipt of the initial payment of the guarantee fee.
   

Start Zrt. reserves the right to reject any application submitted on the account of its own decision without having to provide any reason to the client for the decision. Until such time that a guarantee contract is signed Start Zrt. has the right to desist from a transaction. In case the period for acceptance or conclusion of the contract is over, the guarantee can only be acquired by a new application.


Commitment of periods

Main obligations after conclusion of the contract

During the term of the guarantee of payment clients are obliged to pay a semi-annual guarantee fee in advance. In addition, clients are required to send a Rating Data Sheet semi-annually.