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Line of credit agreement: Carrefour Business intends to file a complaint against Boa

29/11/2021
Categories: Companies

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Carrefour Business denounces an abusive breach of credit. Bound by a line of credit contract with the Bank Of Africa, the company intends to file a complaint.

According to the Managing Director of Carrefour Business, Boa had asked him for an expert guarantee of 510 million to be able to benefit from a line of credit and the bank granted him a line of credit of 400 million of our francs, i.e. 250 million endorsed drafts. and 50 million overdraft and 100 million simple discount. What was done. In the first instance, he had made a loan of 150 million payable over 4 months. He took a week late to repay 155 million. He redid another loan of 150 million divided into 3 tranches of 50 million. Came in possession of 50 million, Mr. Fall had ordered goods that he was slow to receive. When the deadline has passed, the bank calls him back to pay the 50 million. A week later, the director of the company pays the amount borrowed. However, having to receive the other amount of 50 million, the bank made him run and refused to grant him the loan. “It is an abusive breach of the line of credit. I cannot allow my guarantee of 500 million to be held by the bank and at the same time, it is blocking my business by refusing to grant me the second installment of my loan of 150,000,000 F," denounces Carrefour Business, which is threatening to complaint.

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