The contractual deadlines for JSW payment liabilities are up to 120 days from the date of invoice delivery. These deadlines are in accordance with the JSW procedures and are at the same time an element of the tender documentation. The applicable payment terms also  reflect the Company's obligations under the restructuring agreement concluded with the Bondholders.

- Thanks to the agreement signed, Jastrzębska Spółka Węglowa has received funding for suppliers that are fully neutral for the Company. It does not generate any additional credit risk and allows the use of existing internal procedures, including Assignment of receivables, said Daniel Ozon, Acting President of JSW.

JSW Suppliers have long been signaling that, owing to the long deadline for payment of liabilities by the Company and increasing employee wage demands, their liquidity situation is increasingly difficult. Thanks to the agreement JSW suppliers will be able to get more money for the works and materials provided to the Company. Suppliers indicated by JSW who wish to join the program will sign BOŚ agreement on classical factoring on special attractive terms obtaining the financing of an invoice issued to JSW immediately upon its acceptance by the Company.

- This is a very positive signal from the banks for Polish mining and mining-related companies. The Agreement, which Jastrzębska Spółka Węglowa concluded with Bank Ochrony Środowiska, confirms the good condition of JSW and trust of the banking sector for our mining industry - says Grzegorz Tobiszowski, Deputy Minister of Energy.