OREANDA-NEWS. May 23, 2012. NOMOS-BANK has extended its previous limit on factoring operations by RUB 1 billion to Transaero, one of the largest aviation companies in Russia.

The airline is using this finance to purchase the aviation-fuel product ‘Factoring: On-demand Deferral’ – a unique offering in the market, designed and implemented by NOMOS-BANK in 2011.

NOMOS-BANK and Transaero have been cooperating for more than a year.

According to the Transaero, cooperation with NOMOS-BANK encompasses an attractive range of products and services, including new projects and proposals from the Bank, which can be used effectively in the company’s daily operations. The use of such banking products as ‘Factoring: On-demand Deferral’ can, above all, support work with key suppliers, offering them a flexible system of payment for services. The use of factoring in accounts does not entail additional costs for suppliers but does significantly reduce their risks.

"The use of ‘Factoring: On-demand Deferral’ allows customers – without any additional agreements with the supplier – to get the goods on a deferred-payment basis. The Bank itself pays the supplier for the goods delivered to the purchaser within the period specified by the supplier, and the purchaser receives a deferred payment of up to 180 days. This product helps strengthen mutually-beneficial relationships with suppliers, expand the range of services and products, and get goods at discounted prices by improving the solvency of accounts with suppliers," said Sergey Kushpelev, Director of Factoring Operations at NOMOS-BANK.