A short-term trade based financing facility designed to meet liquidity requirements of the customers involved in manufacturing/trading of goods.
Sale and agency based financing against finished goods
Ideal for customers engaged in local or international trading
Minimum length of business should be 3 years
Customer must meet the bank’s as well as applicable regulator’s policies
Customer to provide acceptable collateral as per bank’s requirement
How to apply
Applicant to provide:
Customer’s Basic Fact Sheet
Facility Application Form
Financial Statements (as per Prudential Regulations)
Average One Year Stock Report
All other documents as per bank’s policy and regulatory guidelines
Under this facility, bank purchases customer’s finished goods on a spot payment basis and then appoints customer as its agent to sell the same in the market. Customer finally settles its financing with bank upon receipt of proceeds from the ultimate buyer.
Terms and conditions apply.