Requirements for individuals who provide additional and related services during the lending implementation

Requirements for insurance companies:

  • Insurance companies (residents), registered in Ukraine in accordance with the current legislation are subjects to accreditation
  • The minimum size of the authorized capital (guarantee deposit) of an insurer dealing with types of insurance other than life insurance must be at least an equivalent of 1 million euros, and an insurer dealing with life insurance should be 10 million euros according to the exchange rate of Ukrainian currency.
  • The insurance company must be represented in the regions where the Bank operates.
  • The operating activities term of the insurance company in the market must be at least 5 years.
  • The absence of the unfulfilled requirements of the National Commission implementing state regulation in the financial services markets sphere required.
  • The absence of negative audit reports for the last 3 years required.

Can not participate in the accreditation insurance companies which:

  • Have a negative credit history or overdue bank debt for over 90 days;
  • Are under the proccedures of bankruptcy, reorganization, liquidation, termination of activities, licenses as well as have any revoked or suspended licences / permits required for the implementation of these activities;
  • Companies that submitted doubtful financial statements / information.

The estimating subject must simultaneously meet the following criteria:

  • Inclusion of the valuation activity subject in the State Register of Appraisers and subjects of valuation activity;
  • The fact of having a valid certificate by the subject of valuation activity in the areas of property valuation for which is allowed practical activities on the evaluation of certain collateral types;
  • Practical experience of the valuation activity subject in the Ukrainian market for property valuation of at least five years, of which at least three years in the areas of certain types of collateral property valuation;
  • The appraisers' practical experience who carry out an assessment as the part of the valuation activity subject at least for two years, of which at least one year in the property valuation areas of certain collateral types;
  • The absence of information on the violations of regulatory acts on property valuation for the last 3 years preceding the date on which credit risk is assessed by the subject of valuation activity and appraisers who perform valuation in its composition. As well as abscense of information on violations of property rights and professional valuation activity in Ukraine ; violations of restrictions on the assessment of property established by the legislation of Ukraine; reviews of the property valuation report, which are classified by the basis: the property valuation report does not meet the requirements of the regulatory acts on property valuation, is substandard and (or) unprofessional and cannot be used.