Temporary measures

Dear clients,

In accordance with the decisions of the banking agencies of the Federation of BiH and Republic of Srpska, MCF SUNRISE has prepared a set of measures to mitigate adverse economic consequences for clients whose income or sources of funds for loan repayment have been reduced as a result of COVID-19 virus.

MCF SUNRISE clients affected by negative economic consequences are considered to be natural or legal persons whose revenues, i.e. sources for repayment of liabilities are significantly reduced as a result of the pandemic impact and thus make it difficult, impossible or will be impossible to settle liabilities to MCF SUNRISE, including those clients. which have previously been granted interim measures.

The main goal of approving temporary measures is to enable the client to establish orderly settlement of credit obligations in the following period.

Temporary measures can only be granted to clients of MCF SUNRISE who have been disbursed until 24.03.2021.

Clients of MCF SUNRISE, who carry out their business activities without hindrance or to a lesser extent or generate income in the same or slightly smaller amount in relation to the day of loan approval, as well as clients whose debt was transferred to the “delinquent portfolio” before the decision on temporary measures, in accordance with the internal acts of the MCF SUNRISE, no temporary measure can be approved, but these clients can apply for rescheduling of loan obligations in accordance with the valid Decision of the MCF SUNRISE on loan rescheduling.

Temporary measures that MCF SUNRISE may be given to you, under the conditions prescribed by the internal acts of MCF SUNRISE, are the following:

Loan reprogramming means changing the agreed loan repayment terms (reprogramming) by applying one or a combination of the following temporary measures:

– moratorium on repayment of liabilities, no later than 30.06.2021., with the extension of the loan repayment period for the duration of the moratorium;

– extension of the loan repayment deadline;

– grace period for repayment of the loan principal, for the period up to 31.12.2021., during which the client pays only the agreed interest;

– merging loans of the same user;

– taking over a debt or joining a debt that includes changing the agreed loan terms;

– all other cases involving changes in the agreed loan terms.

 

Reprogramming/rescheduling of loans with a moratorium implies that the client is granted a delay (moratorium) in repayment of credit obligations, while extending the loan repayment period for the period of the approved moratorium, so as not to increase the client’s annuity repayment in accordance with the basic agreement.

Reprogramming of loans with a moratorium can be granted only to those clients who at the time of applying for approval of a temporary measure have so much changed creditworthiness which enables application of any other modality or combination of modalities for regular payments of obligations towards MCF SUNRISE.

The general conditions under which MCF SUNRISE approves temporary measures to its clients are:

  • In all cases when MCF SUNRISE clients are granted one or a combination of measures, the effective interest rate (EIR) per approved measure, or per combination of approved measures, will not be higher than the EIR defined in the basic contract or the applicable annex to the basic contract;
  • Interim measures are approved without additional compensation, and in the case of an approved moratorium, MCF SUNRISE will not charge default interest on the amount of overdue receivables during the moratorium;
  • If the client is approved to change the agreed repayment terms, with the application of a combination of moratorium and grace period, the period for which the temporary measure is approved may not be longer than 30.06.2021. for a moratorium, and 31.12.2021. for the grace period. The maximum duration of the temporary measure does not include the period for which the client was previously granted a temporary measure in accordance with previous decisions of the competent banking agencies and internal decisions of the MCF SUNRISE.
  • Extension of the loan repayment deadline cannot be longer than 12 months from the expiration of the valid repayment plan (according to the basic loan agreement or based on the reprogramming of the loan agreement);
  • During the moratorium, interest is calculated, according to the repayment plan from the valid contract, which the client does not pay during the moratorium.
  • During the approved duration of the grace period, the client pays only the agreed interest.
  • Reprogramming of a loan for which a temporary moratorium measure was previously approved can be reprogrammed according to the general business conditions of MCF SUNRISE.

The request for approval of one of the temporary measures is submitted in person at the representative office of MCF SUNRISE where the loan application was submitted.

The request for approval of interim measures must be in writing and personally signed by the client (loan beneficiary and all co-borrowers). MCF SUNRISE will also receive a request that was not submitted on the prescribed form, provided that the request contains all the information contained in the form.

You can download the application form for interim measures here: HERE or at the nearest MCF SUNRISE office.

Each client’s request, MKF SUNRISE will be approached with special attention, and clients will be informed of the decision.

Upon receipt of the request, you will be contacted by the competent loan officer, with information on additional documentation that may need to be attached to the request.

Based on the written request of the client and the individual credit analysis, the competent persons and bodies of MCF SUNRISE will decide whether to approve the requested interim measure or to offer the client another interim measure or a combination of prescribed measures.

In order for the interim measure to be implemented, the offer of MCF SUNRISE on the conditions under which the interim measure was approved, must be accepted by all participants in the loan (loan beneficiary and co-borrowers, if any). If any of the participants in the loan does not accept the offered temporary measure, the valid agreement with the repayment plan remains in force.

MCF SUNRISE recommends that clients consult with a loan officer before or when applying in order to find an adequate interim measure.

All MCF SUNRISE representative offices are open. The working hours of the representative offices in FBiH are from Monday to Friday from 08:00 to 16:30, and in the Republic of Srpska on the same days from 08:00 to 16:00.

You can find the list of branches and telephone numbers at the following link:

Poslovnice

For all additional questions, interested clients can contact the competent credit officer or call the free info line MKF SUNRISE: 0800 30 565.

Yours truly,
MKF SUNRISE