ROMANIAN RECEIVABLES EXCHANGE

Documents required in order to become a member
In order to ensure the review of your ROMANIAN RECEIVABLES EXCHANGE member application by our experts, you should submit the following documents [such documents should be submitted in one photocopy, and the company general manager/ director should affix his/her signature and the company seal at the right bottom side of each page]:

Documentary list setting out the list of all documents included in the file sent for URBAN SI ASOCIATII review;
Documents delivery-acceptance protocol, in two copies [one copy will be returned to you following the documents receipt by URBAN SI ASOCIATII, signed and stamped by us];
The charter of incorporation of the legal entity that shall become member of the ROMANIAN RECEIVABLES EXCHANGE; these also include all addenda under which changes have been operated in the company [registered office / goodwill/ new shareholders/ changed directors] between the company set up date and the current date; in case of individuals who intend to become members, these should send a photocopy of the Identity Card and of the Driver’s License
Finding Certificate issued by the Trade Register maximum 15 days prior to the documents mailing date to our company, for review;
Filled-in registration application

The Romanian Receivables Exchange is the trademark of cf. M/01566/February 17th 2006

Documents required in order to register a receivable

• Documentary list setting out the list of all documents included in the file sent for URBAN SI ASOCIATII review;
• Documents delivery-acceptance protocol, in two copies [one copy will be returned to you following the documents receipt by URBAN SI ASOCIATII, signed and stamped by us] ;
• The charter of incorporation of the legal entity that shall become member of the ROMANIAN RECEIVABLES EXCHANGE; these also include all addenda under which changes have been operated in the company [registered office / goodwill/ new shareholders/ changed directors] between the company set up date and the current date; in case of individuals who intend to become members, these should send a photocopy of the Identity Card and of the Driver’s License
• Finding Certificate issued by the Trade Register maximum 15 days prior to the documents mailing date to our company, for review;
• Filled-in membership registration application [IT IS MANDATORY TO BE MEMBER OF THE ROMANIAN RECEIVABLES EXCHANGE]
• Supporting documents regarding the tendered receivable(s): please note that, generally, only certain, liquid and due receivables are accepted, which are not subject to any ongoing proceedings, or which are not challenged by the debtor; the receivables challenged by the debtor shall be accepted under extraordinary circumstances, and the relevant dispute shall be mentioned, so that a potential purchaser of such receivable shall know from the beginning the legal and financial status of the receivable it intends to purchase; RRE reserves the right to notify the debtor in writing regarding the trade of a receivable held against such debtor and any other documents received from the debtor that prove issues related to the receivable, shall grant to RRE the unlimited right to suspend the trade of such receivable, provided that the purchaser safety and protection requirements have not been met; we will only accept photocopies, on which the receivable owner has affixed in original the provision “certified copy” and has dated and initialized each photocopy and, in case of legal entities, has also affixed the seal;
• Copy of the civil/ commercial/ labor law agreement that has generated the receivable;
• Copy of any other formal written instrument, pr concluded between the parties, which represents the legal source of such receivable;
• Copy of the fiscal invoices/ shipment notices and any other receivable accounting supporting documents;
• Copy of notices, summons sent to the debtor, name of the lawyer, legal adviser or debts collection company that has attempted to collect the receivable;
• Copy of potential legal, arbitration, force execution proceedings, criminal claims or other legal claims related to the receivable recovery ;
• Copy of the accounting notice that proves the receivable registration in the seller’s accounting records;
• Copy of the monthly trial balance and of the last balance sheet filed with the tax bodies, which prove the receivable existence in the seller’s estate;
• Statement on own liability according to which such receivable has not been tendered / assigned to any third individual /legal entity, is not subject to any security, forced execution, on the registration thereof for trading purposes; the statement shall also set out, on the receivable seller’s own liability, the fact that the latter shall notify RRE in writing, within 12 hours, regarding the occurrence of any of the above mentioned circumstances, otherwise being legally, criminally and financially liable;
• In case of seller legal entity, a statement on own liability according to which no bankruptcy or legal winding-up proceedings have been initiated against it and no forced execution proceedings initiated by ANAF are pending for outstanding liabilities to the state budget, or special and/or local budgets and it shall notify RRE within maxim 12 hours, regarding the occurrence of any of the above mentioned circumstances, otherwise being legally, criminally and financially liable;
• Following the receipt of the above mentioned documents and the review thereof [which shall last maximum 7 business days] and following the payment of the monthly membership fee [Euro 20], for each receivable registered for sale the seller shall pay a fix fee of Euro 10, irrespective of the tendered receivable amount and irrespective of the purchase date of such receivable [the term of a receivable registration and maintenance in the system shall be of 3 years, and after that shall be automatically deleted by the system], the receivable shall be assigned a running number and shall be registered for trade;
• The Romanian Receivables Exchange does not undertake any liability regarding the accuracy of tendered receivables; such liability shall permanently be borne by the persons who tender and intend to register a receivable for sale; RRE shall permanently review and hold information regarding the traded receivables tendered by sellers;
• The Romanian Receivables Exchange shall be legally bound to notify ANAF regarding the performed and known transactions in order to become subject to taxation;
• The Romanian Receivables Exchange shall be legally bound to notify the competent bodies regarding any fraud, identified fraud attempts.
• The documents shall be sent to our company in closed envelopes at the mail address of Bucharest, which may be found by accessing the link “CONTACT”.

Should you be accepted as member, you will be requested to pay the membership fee [which can be paid on a monthly, biannual or annual basis] and afterwards you will be assigned a password and a user-name in order to login to the system.