{"id":19481,"date":"2020-06-30T09:11:08","date_gmt":"2020-06-30T09:11:08","guid":{"rendered":"https:\/\/brm.ro\/receivables-market\/"},"modified":"2020-06-30T09:11:08","modified_gmt":"2020-06-30T09:11:08","slug":"receivables-market","status":"publish","type":"page","link":"https:\/\/brm.ro\/en\/receivables-market\/","title":{"rendered":"Receivables Market"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row css_animation=&#8221;&#8221; row_type=&#8221;row&#8221; use_row_as_full_screen_section=&#8221;no&#8221; type=&#8221;grid&#8221; angled_section=&#8221;no&#8221; text_align=&#8221;left&#8221; background_image_as_pattern=&#8221;without_pattern&#8221; padding_top=&#8221;70&#8243; z_index=&#8221;&#8221; css=&#8221;.vc_custom_1582290868128{background-color: #ffffff !important;}&#8221;][vc_column width=&#8221;2\/3&#8243;]<div class=\"q_list circle\">\n\t<strong>Existing Legislation<\/strong><\/p>\n<ul>\n<li>Law 357\/2005 concerned with Commodity exchanges which allows the administering of organised markets, of which Receivables also.<\/li>\n<li>The Fiscal Code allows the possibility of expenditure deduction through the trade of commerical receivables through commodity exchanges<\/li>\n<li>RCE rules for Receivable trading<\/li>\n<\/ul>\n<p><\/div>[\/vc_column][vc_column width=&#8221;1\/3&#8243;][vc_column_text]<strong>Documents<\/strong>[\/vc_column_text]<div class=\"q_list circle\">\n\t<\/p>\n<ul>\n<li><a href=\"https:\/\/brm.ro\/wp-content\/uploads\/REGULAMENT-BRM-Piata-Creantelor.pdf\">Rulebook for RCE Receivables market<\/a><\/li>\n<li><a href=\"https:\/\/brm.ro\/wp-content\/uploads\/PROCED.COMPENSARE.pdf\">Compensation procedure<\/a><\/li>\n<\/ul>\n<p><\/div>[\/vc_column][\/vc_row][vc_row css_animation=&#8221;&#8221; row_type=&#8221;row&#8221; use_row_as_full_screen_section=&#8221;no&#8221; type=&#8221;grid&#8221; angled_section=&#8221;no&#8221; text_align=&#8221;left&#8221; background_image_as_pattern=&#8221;without_pattern&#8221; padding_bottom=&#8221;70&#8243; z_index=&#8221;&#8221; css=&#8221;.vc_custom_1582290891175{background-color: #ffffff !important;}&#8221; padding_top=&#8221;20&#8243;][vc_column]<div class=\"q_list circle\">\n\t<strong>Premise for trading commercial receivables through RCE<\/strong><\/p>\n<ul>\n<li>A percentage of 20% of the GDP (56 billion lei, according to estimates for the year 2005) is blocked by old receivables which commercial organisations owe to the state or to other commercial organisations.<\/li>\n<li>Commercial receivables count for approximately two thirds of this debt, close to 37 billion Lei (the equivalent of 10 billion Euros)<\/li>\n<\/ul>\n<p><\/div>[vc_empty_space height=&#8221;20px&#8221;]<div class=\"q_list circle\">\n\t<\/p>\n<p><strong>Benefits of trading through RCE<\/strong><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>From a macroeconomic level\n<ul>\n<li>it represents an instrument of the market economy, not an administrative order measure;<\/li>\n<li>clearing of blocked sums between economic operators.<\/li>\n<\/ul>\n<\/li>\n<li>From a microeconomic level\n<ul>\n<li>Monetizing and transforming receivables considered losses;<\/li>\n<li>Fiscal deductability of expenditure registered due to commercial receivables;<\/li>\n<li>Unloading of balance related to unpaid invoices;<\/li>\n<li>Improvement of financial indicators.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><\/div>[\/vc_column][\/vc_row][vc_row css_animation=&#8221;&#8221; row_type=&#8221;row&#8221; use_row_as_full_screen_section=&#8221;no&#8221; type=&#8221;grid&#8221; angled_section=&#8221;no&#8221; text_align=&#8221;left&#8221; background_image_as_pattern=&#8221;without_pattern&#8221; css=&#8221;.vc_custom_1582291181607{background-color: #f3f3f3 !important;}&#8221; z_index=&#8221;&#8221; padding_top=&#8221;70&#8243; padding_bottom=&#8221;70&#8243;][vc_column][vc_column_text]<\/p>\n<h1>Receivable market participants<\/h1>\n<p>[\/vc_column_text][vc_separator type=&#8221;small&#8221; position=&#8221;left&#8221; color=&#8221;#9b9b9b&#8221; thickness=&#8221;4&#8243; width=&#8221;48&#8243; up=&#8221;14&#8243; down=&#8221;22&#8243;][vc_column_text]<b>Initiators <\/b>(shareholders, affiliated members,RCE customers) and bidders (natural or legal persons which register opposite orders to those launched by the initiator) found in one of the following situations:[\/vc_column_text]<div class=\"q_list circle\">\n\t<\/p>\n<ul>\n<li>Economic operators interested in capitalizing on receivables from clients, partners, collaborators or beneficiaries (e.g. credit institutions, utility suppliers, telecommunication operators)<\/li>\n<li>Organisations specialised in collecting and recovering receivables;<\/li>\n<li>Economic operators or people whom already have a debt towards the receivable debtor offered towards sale (in the perspective of compensation)<\/li>\n<\/ul>\n<p><\/div>[vc_empty_space height=&#8221;20px&#8221;][vc_column_text]<strong>Transaction stages for SELLERS<\/strong>[\/vc_column_text]<div class=\"q_list circle\">\n\t<\/p>\n<ul>\n<li>Presenting the sale offer to the initiator:<\/li>\n<li>Verification and publication of the initiators offer;<\/li>\n<li>Verification, presentation and registration of the opposite order to the sellers offer<\/li>\n<li>Trading session completion<\/li>\n<li>Contract signing<\/li>\n<\/ul>\n<p><\/div>[vc_empty_space height=&#8221;20px&#8221;][vc_column_text]<strong>Transaction stages for the BUYER<\/strong>[\/vc_column_text]<div class=\"q_list circle\">\n\t<\/p>\n<ul>\n<li>Presenting the sale offer to the initiator:<\/li>\n<li>Verification and publication of the initiators offer;<\/li>\n<li>Verification, presentation and registration of the opposite order to the buyers offer<\/li>\n<li>Trading session completion<\/li>\n<li>Contract signing<\/li>\n<\/ul>\n<p><\/div>[vc_empty_space height=&#8221;20px&#8221;][vc_column_text]<strong>Advantages of a Receivable SELLER<\/strong>[\/vc_column_text]<div class=\"q_list circle\">\n\t<\/p>\n<ul>\n<li>Promoting the selling procedure of a receivable<\/li>\n<li>The posibility of selling a receivable portfolio<\/li>\n<li>Fiscal deductability<\/li>\n<\/ul>\n<p><\/div>[vc_empty_space height=&#8221;20px&#8221;][vc_column_text]<strong>Advantages of a receivable BUYER<\/strong>[\/vc_column_text]<div class=\"q_list circle\">\n\t<\/p>\n<ul>\n<li>Finalising debts towards creditors<\/li>\n<li>Paying a lower price than the nominal value of a receivable<\/li>\n<li>A guarantee that the respective receivable will not increase in value<\/li>\n<\/ul>\n<p><\/div>[vc_empty_space height=&#8221;20px&#8221;][vc_column_text]<strong>Characteristics of trading with RCE- HOW does it work?\u00a0 \u00a0<\/strong><\/p>\n<p>When trading receivables :<\/p>\n<p>[\/vc_column_text]<div class=\"q_list circle\">\n\t<\/p>\n<ul>\n<li>Dutch auction (when the seller is the initiator) the offering decreases<\/li>\n<li>Live auction (when the buyer is the initiator) the offering increases<\/li>\n<\/ul>\n<p><\/div>[vc_empty_space height=&#8221;20px&#8221;][vc_column_text]<strong>Characteristics of trading with RCE- WHAT is traded?\u00a0 <\/strong>[\/vc_column_text]<div class=\"q_list circle\">\n\t<\/p>\n<ul>\n<li>Transactions concerned with receivables&#8217; cession have as an objective liquid and chargeable receivables, inclusive of VAT and consisten with the accepted invoice<\/li>\n<li>Transactions concerned with the cession of a receivable can take place for a part of the receivable as well as the receivable portfolio.<\/li>\n<li>Currently through RCE you DO NOT trade guarantee receivables, budgetary receivables and receivables representing sums to be reimbursed\/reimbursed to the budget<\/li>\n<\/ul>\n<p><\/div>[vc_empty_space height=&#8221;20px&#8221;][vc_column_text]<strong>What does RCE offer?<\/strong>[\/vc_column_text]<div class=\"q_list circle\">\n\t<\/p>\n<ul>\n<li>Transparency and efficiency of trading procedures;<\/li>\n<li>Equal treatment and market participant protection<\/li>\n<li>Advertising the supply and demand<\/li>\n<\/ul>\n<p><\/div>[\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row css_animation=&#8221;&#8221; row_type=&#8221;row&#8221; use_row_as_full_screen_section=&#8221;no&#8221; type=&#8221;grid&#8221; angled_section=&#8221;no&#8221; text_align=&#8221;left&#8221; background_image_as_pattern=&#8221;without_pattern&#8221; padding_top=&#8221;70&#8243; z_index=&#8221;&#8221; css=&#8221;.vc_custom_1582290868128{background-color: #ffffff !important;}&#8221;][vc_column width=&#8221;2\/3&#8243;][\/vc_column][vc_column width=&#8221;1\/3&#8243;][vc_column_text]Documents[\/vc_column_text][\/vc_column][\/vc_row][vc_row css_animation=&#8221;&#8221; row_type=&#8221;row&#8221; use_row_as_full_screen_section=&#8221;no&#8221; type=&#8221;grid&#8221; angled_section=&#8221;no&#8221; text_align=&#8221;left&#8221; background_image_as_pattern=&#8221;without_pattern&#8221; padding_bottom=&#8221;70&#8243; z_index=&#8221;&#8221; css=&#8221;.vc_custom_1582290891175{background-color: #ffffff !important;}&#8221; padding_top=&#8221;20&#8243;][vc_column][vc_empty_space height=&#8221;20px&#8221;][\/vc_column][\/vc_row][vc_row css_animation=&#8221;&#8221; row_type=&#8221;row&#8221; use_row_as_full_screen_section=&#8221;no&#8221; type=&#8221;grid&#8221; angled_section=&#8221;no&#8221; text_align=&#8221;left&#8221; background_image_as_pattern=&#8221;without_pattern&#8221; css=&#8221;.vc_custom_1582291181607{background-color: #f3f3f3 !important;}&#8221; z_index=&#8221;&#8221; padding_top=&#8221;70&#8243; padding_bottom=&#8221;70&#8243;][vc_column][vc_column_text] Receivable market participants&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"full_width.php","meta":{"footnotes":""},"class_list":["post-19481","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/brm.ro\/en\/wp-json\/wp\/v2\/pages\/19481","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/brm.ro\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/brm.ro\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/brm.ro\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/brm.ro\/en\/wp-json\/wp\/v2\/comments?post=19481"}],"version-history":[{"count":0,"href":"https:\/\/brm.ro\/en\/wp-json\/wp\/v2\/pages\/19481\/revisions"}],"wp:attachment":[{"href":"https:\/\/brm.ro\/en\/wp-json\/wp\/v2\/media?parent=19481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}