Please read this License Agreement ("Agreement") carefully before clicking the "I Accept the Terms & Conditions" button.

By clicking the "I Accept the Terms & Conditions" button, you are agreeing to be bound by the terms and conditions of this Agreement to use the APIs in the Sandbox.

If you do not agree to the terms of this Agreement, do not click on the "I Accept the Terms & Conditions" button and do not add the API to the list of APIs your application will access.

1. Definitions

When used in this Agreement with the initial letters capitalized, in addition to the terms defined elsewhere in this Agreement, the following terms have the following meanings:

∙ API means the UNITED BULGARIAN BANK’S (UBB) application programming interface;

∙ Intellectual Property Rights means all patents, copyright and related rights, trademarks, logo, service marks, trade, design rights, business and domain names, rights in trade dress or get-up, rights in goodwill or to sue for passing off, rights in designs, database rights, rights in confidential information (including know-how and trade secrets) and any other intellectual property rights, in each case whether registered or unregistered and including all applications for, and renewals or extensions of, such rights, and all similar or equivalent rights or forms of protection in any part of the world.

∙ Sandbox is the software testing environment that enables the isolated execution of software or programs for independent evaluation, monitoring or testing. 

2. License

UBB grants you a limited,  non-transferable, non-exclusive, as-is, non sub licensable license

to use the API for the sole purpose of developing and testing your applications.

3. Restrictions

You shall not- 

∙ change or delete any copyright, trademark, tradename or other proprietary notices, legends, symbols, or labels appearing on or in the API;

∙ Disclose, share  or divulge any of the API specifications to any third party;

∙ Represent in any way that your application is approved, recommended or endorsed by us;

∙ Disable, or by pass any security protocols or measures or technical limitations of the APIs; 

∙ Modify, decompile, reverse engineer or otherwise alter the APIs;

∙ Participate or engage in any activity which restricts, hinders, impedes, interrupts or harms the API in any way or permits unauthorised access to the API;

∙ Use the API and the content thereon for any purpose other than those expressly permitted by these Terms of Use

UBB reserves the right to modify, suspend or discontinue, temporarily or permanently, the APIs, with or without notice and without liability to you.

4. Intellectual Property

Intellectual Property Rights 

4.1 We retain all Intellectual Property Rights with respect to UBB API’s,  including content and documentation and these may not be copied, transmitted or reproduced without our  prior consent. All Intellectual Property Rights and other rights in connection with the Portal  (including without limitation, information, graphics, software, text, sounds, images, trade marks, service marks, trade names and logos) are vested in us or our licensors.   You agree that you shall not obtain any Intellectual Property Rights, title or interest in the Portal other than in accordance with these Terms of Use.

4.2  You undertake not to do anything which would bring UBB or any of it trademarks, trade names, logos, or branding into disrepute or harm the reputation and goodwill of UBB.

4.3 You acknowledge and agree that we may independently develop or create applications, content or other services or products that may be similar to and/or compete with your applications and nothing in these Terms of Use shall prevent us from exploiting any such commercial opportunities.

5. Term and Termination

This Agreement shall remain in effect until terminated by you or UBB. 

UBB may, in its sole discretion, at any time and for any or no reason, suspend or terminate this Agreement with or without prior notice.

This Agreement will terminate immediately, without prior notice from UBB, in the event that you fail to comply with any provision of this Agreement. You may also terminate this Agreement by deleting the Application on our API.

Upon termination of this Agreement, you shall cease all use of the APIs on the Sandbox.

6. Severability

If any provision of this Agreement is held to be unenforceable or invalid, such provision will be changed and interpreted to accomplish the objectives of such provision to the greatest extent possible under applicable law and the remaining provisions will continue in full force and effect.

7. Amendments to this Agreement

UBB reserves the right, at its sole discretion, to modify or replace this Agreement at any time. What constitutes a material change will be determined at our sole discretion.

8. Applicable law and jurisdiction

The provisions of the Bulgarian law shall apply to this Agreement. Disputes betwen UBB and you related to, or arising from this Agreement shall, unless settled amicably between UBB and you, be brought for resolution before the competent Bulgarian court in Sofia, Bulgaria.

Discontinues the performance of the activities, relating to the calculation and publishing of the reference index SOFIBOR - individual clients

Dear clients,

We would like to inform you that as per the requirements of Regulation (EU) 2016/1011 of the European Parliament and of the Council, with effect from 01.07.2018 the Bulgarian National Bank discontinues the performance of the activities, relating to the calculation and publishing of the reference index SOFIBOR. To this end amendments have been adopted to the Credit Institutions Act, Consumer Real Estate Loans Act and the Consumer Loan Act.

In view of the new requirements there is an Action Plan upon Essential Change or Benchmark Cancellation, adopted at United Bulgarian Bank, which is being directly applied in case the benchmarks used to date for calculating reference interest rates under loan agreements (SOFIBOR and others) are either cancelled or changed essentially. 

As per the above-stated action plan, after discontinuing the calculation and publishing of SOFIBOR by the BNB, under all loan agreements in Bulgarian leva, concluded with individuals, in which this index is being used as a reference interest rate, regardless of its weight upon calculation, the total amount of the interest, agreed with the client will be retained over a grace period of three months (by 30.09.2018 inclusive) as an absolute amount, in accordance with the most recently published and accepted by the Bank value of the index, applicable to the loan agreements as at the date of officially discontinuing the index preparation and maintenance, which value is applicable to the respective agreement and methodology.

Following the grace period expiry, in line with the Plan’s Appendix, with effect from 01.10.2018 UBB will be applying directly to all agreements a * Reference Interest Rate (RIR) + the agreed fixed margin. The RIR of the Bank has been determined in accordance with the UBB AD Methodology for Calculating the Reference Interest Rate for loans to individuals, in effect from 17.04.2018.

The Methodology has been published in UBB’s website www.ubb.bg , where you can find more detailed information about the indicators and the formula for calculating the Reference Interest Rate of UBB, as the General Information part contains info on the activities for replacement of SOFIBOR with a new RIR.

Upon a change in either the repayment schedule or upon other amendments in line with the above stated, you will be informed through the procedure, envisaged in the currently effective legislation and in the particular agreement.

 *As regards agreements for mortgage loans with a fixed interest rate over a certain period from the drawdown and a floating interest rate for the remaining period of the agreement’s effect, in case by 01.10.2018 the fixed interest rate period has not expired, the replacement of the floating interest rate with the new RIR shall be made after the expiry of the envisaged fixed period since the loan drawdown, based on the most recent RIR value, calculated in accordance with the methodology and adopted by the Bank as of 1st March / respectively 1st September for the year of resorting to a floating interest rate.

Regarding loan agreements, which fixed interest rate period expires during the grace period, the floating interest rate shall be calculated in accordance with the most recently published and adopted by the Bank value for SOFIBOR, which is applicable to the respective agreement and methodology + the agreed margin. With effect from 1st October there will be direct application of a Reference Interest Rate (RIR) of UBB + the agreed fixed margin.


UBB Team