Limitations

Agricultural machinery purchased within the frameworks of the program should not cross the state border of Georgia within 5 years after purchase.

The beneficiary is not allowed to sell/alienate the machinery purchased within the frameworks of the program for 5 years;

The beneficiary of the program is obliged to ensure the pledge of agricultural machinery (identifiable machinery with license plate granted by the LEPL “Service Agency of the Ministry of Internal Affairs of Georgia”) purchased within the frameworks of the project in favor of the Agency for 5 years term;

Agricultural machinery purchased by the beneficiary under the program must be pledged in favor of the Agency before receiving the co-financing tranche;

The pledge on the agricultural machinery purchased by the beneficiary within the frameworks of the program in favor of the Agency may be second in order, only in case if the credit issued by financial institution is the co-financing source for participation in purchase of agricultural machinery by beneficiary and to ensure this credit, the financial institution is the first order pledgee of the equipment;

Agricultural machinery will not be pledged by the Agency only in case if the leasing is the co-financing source for participation in purchase of agricultural machinery by beneficiary, and if within 5 years after tranche issue a beneficiary will reregister the machinery from leasing company, he/she is obliged to ensure the pledge of the agricultural machinery in the favor of the Agency for the period remained till expiry of 5 years term. 

Conflict of interests

Potential beneficiary will not be able to get co-financing under the program, in case potential beneficiary or its founder/shareholder/stakeholder is the owner of share/equity interest/capital share in company registered as the supplier of agricultural machinery under the invoice/agreement provided.