BILL FINANCE SCHEME FOR TNEB CONTRACTORS
|Objective||For discounting the Bills of TNEB as per purchase order/ Turnkey projects.|
|Eligibility||Registered Contractors/ Units of TNEB|
|Sanction Limit||125% of last full year turnover or applied amount whichever is lower.|
|Drawal Limit||85% of Net Bill Value.|
|Credit Period||Maximum credit period of 240 days for each bill.|
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.240 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.