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Material cash pooling

Consolidation of funds and financing of bank accounts of your Group.

This service enables centralized management of cash balances for all accounts of the Group while securing payments of the pool participants via a Cash Pooling Agreement signed between the Pool Participants and the Head Company. This service is mostly appropriate for companies with a centralized financial strategy and a single control center.

Material cash pooling is based on actual cash transfers between the accounts of the pool participants into one account (the Master Account), that is in turn used to secure payments by the pool participants. On a daily basis, the Bank will automatically transfer cash balances from the Pool participants' accounts into the Master account. If the pool participant’s account has insufficient balance for a payment, the Master Account may be used in order to make such payments as long as it matches pre approved criteria of the agreement.

All cash flows between the Master account and pool participants will be reported in daily statements.

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