The discount system for checks in the capital market allows companies that have checks to be cashed in the future (for a maximum period of 360 days) to advance their collection by selling them on the market.
Deferred payment checks have three trading systems, depending on who is responsible for paying it:
- In the sponsored system, a company is authorized by Merval so that the checks it issued to finance its activities are traded on the capital market.
- In the guaranteed system, small and medium-sized companies can negotiate their own or third-party checks with a guarantee from a reciprocal guarantee company (SGR) that guarantees the payment of the check. The lowest discount rates are negotiated in this system, given the guarantee of payment of the check by the SGR.
- In the endorsed check system, listed companies with shares and notes in the Merval can trade their customer’s checks on the market.
Main Benefits for the debt taking company
- Get the lowest check discount rates on the market.
- The prestige that the company obtains by operating in the Capital Market.