The general prescriptive period for reimbursement of guaranteed deposit amounts with International Bank for Trade and Development (IBTD) expires on 29 July 2010. Payout of guaranteed deposits with IBTD started on 29 July 2005. Whereas the Law on Bank Deposit Guarantee (LBDG) does not set out a deadline for reimbursement of guaranteed deposits, the provisions of the Law on Obligations and Contracts are applied, which stipulate a general five-year prescriptive term for compensation of claims.

With reference to the above the depositors with IBTD, natural persons and legal entities, who under LBDG are entitled to compensation on their deposits and have not done so hitherto, shall take the necessary steps to receive their guaranteed amounts.

The repayment of the guaranteed deposits with IBTD is effected by the United Bulgarian Bank (UBB) at its branches countrywide. Upon submission of the issued by the IBTD trustee certificate in the relevant UBB branch, depositors are entitled to order operations with the funds in their ex-officio-opened accounts with the UBB.

The maximum amount of the guarantee on deposits with the IBTD is BGN 25,000 under the provisions of the Law on Bank Deposit Guarantee applicable at the time of license revocation of the bank in June 2005.

Depositors’ enquiries will be answered by BDIF experts at +359 2 917 2048; 953 1217.