We provide extension of working capital finance to suppliers under LC or Invoice discounting.
- Sight Bill Discounting
- Usance Bill Discounting
- Invoice Bill Discounting
- We provide extension of working capital finance to suppliers under LC or Invoice discounting.
- Facility is provided to Mid / Large corporates having turnover of Rs.500 Crores and above OR minimum exposure (Funded + Non Funded) of Rs.25 Crores
- Period of the facility is upto 180 days
Generally a documentary bill payable on demand tendered for purchase shall consist of the following:
- A Sight draft of the drawer to the value of the invoices of the respective goods consigned.
- Documents of title to goods covered by the bill viz. (a) Railway Receipt or (b) Lorry Receipt of an approved carrier or (c) Bill of Lading (Inland).
- Invoices or contract notes of Bills of sale in respect of the goods covered by the documents.
- Transit Insurance Policies, if they have been taken.
Usance Bill is the one which is expressed to be payable after a specified period (Usance) mentioned in the bill. Usance bill may be a clean bill or may be
- accompanied by documents of title to goods evidencing dispatch of goods (Railways Receipt/Lorry receipt/ shipping documents)
- Usance Bill of Exchange
- Original Invoice
- Undertaking from the Corporate Buyer agreeing to route the sales proceed to our bank
- Guarantee / Comfort letter from the corporate buyer
- Details of monthly / yearly sales to the buyer