The Tamilnadu Industrial Investment Corporation Ltd
(A Government Of Tamil Nadu Undertaking)
Funding Success...

BILL FINANCE SCHEME FOR TWAD CONTRACTORS

 

Objective For discounting the Bills of TWAD as per purchase order.
Eligibility Registered Contractors/ Units of TWAD 
Sanction Limit

a) 90% for work order value above Rs.2.00 lakh & upto Rs.10.00 lakh  

b) 75% for work order value above Rs.10.00 lakh & upto Rs.10.00 Crore. 

c) The maximum sanction limit will be 50% for work order value above Rs.10.00 Crore.

Drawal Limit 85% of individual bill amount only.
Credit Period Maximum credit period of 120 days for each bill.
Security

a)  The loan will be secured by post dated cheques given by the unit. The amount of post dated       cheques will be the amount disbursed for each bill together with interest from the date of           disbursement to the date of post dated cheque i.e.120 days from the date of disbursement.

b)  The loan will be secured by the personal guarantee of proprietor/ partner/directors of the            unit.

c)  In case of Limited Companies, necessary charge has to be created with ROC.

Collateral Security Nil
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