BILL FINANCE SCHEME – TANGEDCO/TANTRANSCO
|Purpose||Aims at offering Bill Financing facility to SSI/MSI units against their supply of bills to TANGEDCO/TANTRANSCO for the supply of consumption items and capital items apart from ACSR/AAA conductors.|
1) All MSME units to whom TANGEDCO/TANTRANSCO has issued purchase orders for supply of consumption and capital items who have received work order from them.
|Amount of Assistance||
125% of existing turnover (last financial year – one full year) executed to TANGEDCO/TANTRANSCO (based on the audited balance sheet duly certified by the Chartered Accountant) or applied BFS limit whichever is lower.
|Drawal Limit||85% of the net amount of the individual bills.|
|Bill Finance Credit Period||Maximum credit period for each bill will be 240 days only from the date of disbursement. Penal interest of 2.5% will be collected for the period beyond 240 days.|
|Guarantee||Personal guarantee of Proprietor/Partners/Directors of the applicant unit. In case of lady promoters, husband/father of the lady promoter shall guarantee the loan.|
|Security||The loan will be secured by Post dated cheques and the amount of the cheques will be the amount disbursed against each bill together with interest from the date of disbursement to the date of post dated cheques, i.e. 240 days from the date of disbursement.|