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AvtoVAZ Dealers to Be Supervised by Foreign Intelligence
Russia’s automobile giant, AvtoVAZ is establishing new system of mutual settlement with the dealers. Founded by Association of Foreign Intelligence Veterans and friendly to management of the state-run Rosoboronexport, Novikombank is expected to turn into the key center of settlement between AvtoVAZ and the dealers.
AvtoVAZ is the client of Novikombank from January, the bank announced late February. Under the program of VIP-clients’ servicing, the automobile works has been offered “individual service, special program of tariff rates and personal manager’s support for each operation.” Moreover, the bank has launched “elaboration of mutual settlement program between AvtoVAZ and its dealers by using letters of credit and bills of exchange.”
AvtoVAZ actually views Novikombank as the future key center for payments with dealers, reps of the dealers said. In one of the Moscow firms, they said they have been settling accounts with AvtoVAZ via bills of exchange of Novikombank for three weeks already.
www.kommersant.com
All the Article in Russian as of Mar. 07, 2006
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