Bank of Baroda MSME Loan Application Form
In Cash Credit Hypothecation of Stocks and Book debts:
- The borrower is to submit monthly Stock & Book-debt statements before the 10th of the next month in the Bank`s prescribed format.
- The borrower is to submit a certified Book debts statement by practicing C.A. or regular Auditor of the borrower, once every quarter, certifying age & amount of the book-debts, within 30 days of the close of each quarter.
- The advance will not be allowed against stocks not paid for / stocks received on conversion, rejected / defective goods returned by the purchaser and obsolete, un-saleable & old stocks.
- Drawings will be allowed as per advance value of stocks & book debts within the sanctioned limits.
- Book-Debts arising out of the sale to associate concerns will not be financed.
In case of Mortgage of Properties:
- Title Clearance Certificate to be obtained from Bank`s approved Advocate to ensure that the title of the property is clear, marketable & unencumbered and valid & enforceable mortgage can be created. Necessary charges are to be borne by the borrowers.
- The property offered as security is to be got valued by Bank’s impaneled valuer and the charges are to be borne by the borrowers.
- Collateral securities are to be valued by impaneled valuer every three years.
In the case of Term Loans:
- Payment for the items financed will be made directly to the suppliers. The borrower to submit all bills, invoices & receipts for Bank`s records.
- Cost over-run, if any, to be borne by the borrower.
You can download the Bank of Baroda MSME Loan Application Form in PDF format online from the link provided below or alternative link.
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