Discounting of trade bills duly accepted by Corporate/Commercial/OEMs entities

Rs 1 million to Rs. 50 million

As per the accepted invoice being financed (Maximum up to 90 days)

Based on Daily turnover * Billing collection period

Three years’ experience in similar line of business with one year minimum relation with Commercial/Corporate entity

1. Must be in same line of business for last three years
2. Doing business with commercial/corporate entity for last 2 years
3. Letter of recommendation from the commercial/corporate entity

1. Personal Guarantee (s) of Proprietor, Partners and Directors.
2. Post dated cheque(s) covering full limit amount plus markup for three months.
3. Accepted bills
4. Hypothecation of receivables

Mark-up is linked with 3 months KIBOR

At the time of bill adjustment

Margin requirement is 15%

Renewal / Enhancement of facility shall be subject to a re- appraisal through CLP and approved by the relevant authority; timely repayment of principal/mark-up/dues and assessment of satisfactory account behavior and transactions done by the customer during validity period. Similarly at the time of renewal the turnover in account should be at least 3 times of limit assigned.