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Recovery box: watch out for incomplete letters!
Many entrepreneurs have concluded interest rate derivatives in the past. The intention was to hedge the risks of interest rate rises. This turned out differently than expected, which means that banks now have to accommodate entrepreneurs through the Uniform Recovery Framework for Interest Rate Derivatives.
Accon avm warns entrepreneurs: the proposals of some banks are often incomplete and unsubstantiated.
Financial damage
Falling interest rates and rising individual surcharges created a scenario in which entrepreneurs – mainly in the SME and agro sector – suffered financial loss. Smaller entrepreneurs who had an interest rate derivative between 1 April 2011 and 1 April 2014 are eligible for the compensation scheme.
Banks must approach the entrepreneurs themselves proactively and in writing for the Recovery Framework. In several cases acconâ– avm finds inaccuracies in the letters from banks, which creates a complicated and dangerous situation for entrepreneurs.
Read more on the acconâ– avm . website
Contact
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