The security can be subscribed at certain primary dealers and in the branch network of the State Treasury by filing and duly signing the subscription form. During subscription the investor makes an unconditional and irrevocable declaration of intent to purchase the securities and he assumes the obligation to pay. The obligation remains binding upon the investor until the investor's bid is either accepted or refused.
The primary objective of subscription is to satisfy small investors' demand. This objective was taken into account in formulating the principles of allocation, in accordance with which the subscriptions of resident individuals up to a nominal value of HUF 5 million are accepted first. If the sum of such subscriptions exceeds the amount offered for subscription, the subscriptions are allocated on the basis of 'proportional distribution' principle up to the offering amount. If private individuals' subscriptions of not more than HUF 5 million are less than the offering amount but the total subscriptions exceed this amount, private individuals' subscriptions of not more than HUF 5 million are accepted in full, while the remaining amount is awarded to the other investors on the 'proportional distribution' principle. If the total subscriptions are not in excess of the offering amount, the issuer will accept all subscriptions.
Taking into account the funding plan and the demand on the government securities market, ÁKK Rt. determines the terms and conditions of the Interest Bearing Treasury Bill to be issued in the current subscription period (two weeks), its interest rate, the Uniform Yield Rate (UYR), the minimum and maximum offering amount, the subscription period, the prices for the relevant subperiods of the subscription and other important information on the sale of securities. All these terms and conditions are disseminated in a 'Public Offering' on the Wednesday of the week before the subscription.