GICICI Bank
Application ID CAL206218269125 Date: 06-01-20222
VENDOR BILL DISCOUNTING-WORKING CAPITAL FACILITY
FINAL APPLICATION FORM
INTRODUCTION:
A. All applicants, which expression shal, as the
subject
context may admit or require,
or
mean any or each of the applicant/s ("Applicant'")
whether individuals, proprietary
-
concerns, partnership, limited liability partnerships or companies in the capacity of
vendors of the corporate ("Corporate") specified below, who wish to avail financial
assistance as detailed below (the "Facility") from IClCI Bank Limited ("ICICI Bank").
B. The purpose of the Facility is to offer a
revolving line of credit for discounting the bills of
exchange/invoice drawn by the Applicant and accepted by the Corporate towards the
goods/services provided to the Corporate by the Applicant (the "Purpose").
C. The Applicant shall fill-in and submit this
application form (hereinafter "Application Form")
(along with all other necessary details and documents, if any) to ICICI Bank for applying
for the Facility.
D. ICICI Bank shall be entitled in its sole and absolute discretion to reject/approve the
Application Form submitted by the Applicant.
E. The Applicant's request for the Facility vide this Application Form and the Facility shall be
subject to the terms hereof including annexures, schedules or any other document as may
be specified by ICICI Bank.
F. Application Form
along with additional documents (if any), submitted shall be considered
by ICICI Bank and if the same is to the satisfaction of ICICI Bank, ICICI Bank may disburse
the requested Facility to the loan account of the
Applicant(s).
DETAILS OF APPLICANT:
1. Namne
RCEngineering Enterprises
2. Constitution :Private Limited
3. Registered Addres 95, Chanravati Nagar, NH 33,Dimna Road, Jamshedpur,
Jharkhand -831018
4. Communication 95, Chanravati Nagar, NH 33, Dimna
Address Jharkhand 831018
Road, Jamshedpur,
III. DECLARATIONS:
1, on behalf of the Applicant confirm, agree and declare the following:
A. That Iwe amauthorized pursuant to valid and subsisting authorization
avail and accept the terms of this document(s) to
Facility for and on behalf of the Applicant.
B. That all the particulars and information and details
documents submitted are true, correct, complete and
given/filled in this Application Form and
the Applicant has not withheld
up-to date in all respects and that
any information whatsoever and shall furnish such
additional writings, documents as may be
required in connection with the financial
ICICI Bank Limited Regd. Office : ICICI Bank Tower, Near Chakli Circle,
Natraj Mansion, Main Road, Old Padra Road, Vadodara 390 007,
istupur, India.
Jamshedpur 831 001, Website www.icicibank.com Corp. Office: ICICI Bank Towers, Bandra-Kurla
Jharkhand, India. CIN :L65190GJ1994PLCO21012
Complex, Mumbai 400051, India.
ICICI Bank
assistance/s required by the Applicant. We understand that certain particulars given by
me/us are required in view of the guidelines governing banking companies.
C. No director or a relative/near relation (as specified by RBI) of a director of a banking
company (including ICICI Bank) or a relative/near rolation (as specified by RBI) of a senior
officer of ICICI Bank (as specified by RBI) is: The Applicants), or a partner of our concern,
or a trustee, member, director, employee of our concern, or of our subsidiary, or our
holding company, or a guarantor on my behalf, or holds substantial interest in our concern
or my subsidiary or holding company.
D. The Applicant authorizes ICICI Bank and all its group companios and their agents to
exchange, share or part with all the information and details relating to our existing loans/
financial assistances and/or repayment history to othor ICICI Bank group companies,
banks, financial institutions, credit bureaus, agencies, statutory bodios, information
utilities etc. as may be required or they may deem fit and shall not hold ICICI Bank (or any
of its group companies or its/their agents/representatives) liable for use/sharing of this
information.
E. The Applicant has no objection to ICICI Bank, its group companies, agents
representatives to provide me/us information on various products, offers and services
provided by ICICi Bank / its group companies through any mode (including without
limitation through telephone calls/ SMS/email) and authorize ICICI Bank, its group
companies, agents/ representatives for the above purpose.
The Applicant: (i) accepts that the RBl or credit bureau and any other agency so authorized,
any statutory, regulatory or supervisory authority, may use, process, disseminate the said
information and data disclosed by ICICI Bank in such manner as deemed fit by them in any
particular circumstances; and (i) shall not hold ICICI Bank at all responsible or liable in this
regard.
G. The Applicant understands and acknowledges that ICICI Bank shall have the absolute
discretion, without assigning any reasons (unless required by applicable law), to reject this
application and ICICI Bank shall not be responsible/liable in any manner whatsoever to
me/us for such rejection or any delay in notifying me/us of such rejection and any costs,
losses, damages or expenses, or other consequences, caused by reason of such rejection,
or any delay in notifying me/us of such rejection, of our application.
H. The Applicant undertakes to inform ICICI Bank regarding any changes whatsoever in the
registered office of the Applicant and to promptly provide such further information that
ICICl Bank for its designated group companies or agents or representatives may require.
The Applicant authorizes ICICI Bank to check references about them from any
bank/persons.
J. The Applicant hereby further confirms that, none of the directors of the borrowing entity
are also directors of subsidiaries of lICICI Bank or of scheduled co-operative banks or the
trustees of mutual funds/venture capital funds.
K. The Applicant hereby gives specific consent to ICICI Bank for submitting/disclosing the
financial information' as defined in Section 3(13) of the Insolvency and Bankruptoy Code,
2016 (including all amendments and replacements made thereto and all rules and
regulations framed thereunder), in respect of the Facility evailed by the Applicant, from
time to time, to Information Utlities as defined in Section 3(21) of the Insolvency and
Bankruptcy Code, 2016 (including all amendments and replacements made thereto and all
rules and regulations framed thereunder), and directions issued by RBI to the banks from
time to time and hereby specially agree to promptly authenticate and verify the 'financial
information' submitted by ICICI Bank, as and when requested by Information Utilities. The
ICICI Bank Limited Regd. Ottice : ICICI Bank Tower, Near Chakli Circlo,
Natraj Mansion, Main Roud, Old Padra Road, Vadodara 390 007,
Bistupur, India.
Jambhudpur 831 001, Wubsito www.iclciunk.com Corp. Office : ICICI Bank Towars, Bandra-Kurla
Jhai kliund, India. CIN L6b100GJ1904PLCO21012 Complex, Mumbai 400051, India.
GICICI Bank
Applicanthereby gives consent to ICICI Bank, to recover/set off any foos required to be
paid by ICICI Bank to the Information Utilities for aviling their sorvicos in relation to the
Facility from the disbursements made to the Applicant by ICICI Bank from time to time.
LThe Applicant herelby agrees that on the expiry of the validity poriod (provided in
Annexure-1) of the Facility, ICICI Bank may at its discretion renew the validity period for
such further period on such terms and conditions as it may deem fit.
M. The Applicant acknowledges and confirms that ICICI Bank may, from time to time,
communicate changes in terms and conditions applicable to the Facility to me/us and
continued use of the Facility by me/us shall constitute legel, valid and binding acceptance
of such revised terms and conditions.
N. we declare that: we am/are competent and fully authorized to issue such declaration,
confirmations, agreements and undertaking and submit this Application Form on behalf
of the Applicant and also accept the terms and conditions applicable to the Facility
(electronically or physically) for the purposes of borrowing/availing of the requested
facility, and to execute all other documents required by ICICI Bank for such purpose on
behalf of the Applicant; (i) all such letter(s) of authorities/ powerls) of attorney, if any,
executed by me/us in favour of any person/s and which is/are submitted to IClICI Bank on
behalf of the Applicant, is/are valid, subsisting and has/have not been revoked by the
Applicant.
O. The Applicant acknowledges and agrees that the grant of the Facility by ICICI Bank to
me/us shall be subject to compliance by Applicant of the applicable terms and conditions
set out under this Application Form, Annexures and as detailed and available on
www.icicibank.com (collectively, the "General Terms and Conditions"); All the terms and
conditions set out there in shall govern and apply to the Facility and all my/our obligations
(as well as ICICI Bank's rights and remedies) in relation thereto, if the Facility applied for
by me/us herein is sanctioned and granted by ICICI Bank based on my/our application.
P. The Applicant hereby agrees and confirms that any breach of the terms and conditions
stipulated hereinabove and the General Terms and Conditions, shall constitute an Event
of Default under the General Terms and Conditions.
Name ofthe Applicant:
Signature
Signed and delivered for and on behalf of RC
Engineering Enterprises (a Partnership firm through its
authorized signatory)
ICICI Bank Limited Regd. Office : ICICI Bank Tower, Near Chakli Circle,
Natraj Mansion, Main Roud, Old Padra Road, Vadodara 390 007,
Bistupur, India.
Jamshedpur 831 001, Website www.icicilbank.com Corp. Office ICICI Bank Towers, Bandra-Kurla
Jharkhand, India. CIN L65190GJ 1994PLCO21012 Complex, Mumbai 400051, India.
G1CICI Bank
ANNEXURE-I
FACILITY DETAILS
|Facility Invoice Discounting Facility
Sanctioned Limit Rs. 20.0 million
Corporate Tata Steel Limited (TSL); the expression "Corporate" includes,
unless it be repugnant to the subject or context thereof, its
successors and assigns.
This facility shall be provided to the Borrower only for the goods
Validity Period
andservicessupplied to the Corporate.
December 21th, 2022
Maximum Tenor (Usance 180 days
Period)
Discounting Rate of InterestThe rate of interest for each drawal of the Facility will be
stipulated by ICICI Bank at the time of disbursement of each
drawal, which shall be sum of the Repo Rate + "Spread" per
annum, plus applicable statutory levy, if any ("Interest Rate").
The applicable Repo Rate shall be the rate prevailing one
Business Day preceding the date of each drawal.
For 0 days to 90 days; Repo Rate + 3.30% and for 91
days to
180 days; Repo Rate +3.40% p.a.
As on date the Repo Rate is 4.0%.
*"Repo Rate" or "Policy Repo Rate" means the rate of interest
published by the Reserve Bank of India ("RBI") on the RBI
website from time to time as Repo Rate or Policy
Repo Rate.
The Repo Rate component of the Interest Rate shall be
reset
after every 3 months following the date of each
drawal, as a sum
of Repo Rate +"Spread",
plus applicable statutory levy, if any.
The applicable Repo Rate shall be the rate
Business Day preceding each reset date. **
prevailing one
#Reset frequency for drawals upto 1 month tenure shall be 15
days, for drawals of more than 1 month and
upto 3 months
tenure shall be 1 month, for drawals
greater than 3months shall
be 3 month.
ICICI Bank shall have the right to modify the reset frequency and
resetdate from time to time in accordance with the extant RBI
ICICI Bank Limited Regd. Office : ICICI Bank Tower, Near Chakli Circle,
Natraj Mansion, Main Road, Old Padra Road, Vadodara 390 007,
Bistupur, India.
Jamshedpur 831 001, Website www.icicibank.com Corp. Office: ICICI Bank Towers, Bandra-Kurla
Jharkhand, India. CIN :L65190GJ1994PLC021012
Complex, Mumbai 400051, India.
ICICI Bank
Guidelines. The Applicant further acknowledges that Interest
Rate may change, upward or downwards, as the case may be,
in line with change in the Repo Rate.
ICICI Bank reserves the right to reset the Spread at any time
upon substantial change in the Applicant's credit assessment
and/ or on account of deterioration in the credit risk profile. Any
change in 'Spread' would be communicated by ICICI Bank
through either: (i) Letter (i) E-Mail (ii) SMS (iv) Statements of
Accounts (v) WhatsApp or any other suitable mode.
The Applicant/Corporate shall be deemed to have notice of
changes in the Repo Rate when displayed on the notice board
of ICICI Bank's Branch or displayed on ICICI Bank's website
(www.icicibank.com) and the Applicant/Corporate is liable to
pay such revised rate of interest.
The interest will be payable by the Vendor.
Interest Rate payment
Frequency Upfront from Vendors
Additional Interest Rates Overdue interest will be charged@2% p.a. over applicable
proposed pricing on overdue days till the time the
outstanding Facility is repaid.
Commission
Overdue interest will be payableby the Vendor.
1. Processing Fees/Charges: NA
Above charges are exclusive of service tax or other statutory
levy, if any, which shall be charged as per the prevailing
guidelines of government/statutory authority.
Charges/fees/ commission shall betaken upfront. -
Bullet payment of principal on due date.
Repayment
Deal Structure 1.
Vendor will either upload the accepted invoicein FSCMin
an up loadable file or share the up loadable file with the
branch from registered E mail as provided in FSCM
application with vendor code and vendor name in the email
subject, as per standard FSCM fields agreed by the vendor
and branch.
2. Vendors will only upload those invoices which are
accepted by TSL and to be discounted.
3. Branch officials will verify from E-Proc site of TATA Steel
status of invoice submitted by the vendor for
the
discounting. Only accepted invoice (invoice at Invoice
verificatiorn stage)will bediscounted by the Branch on FSCM
ICICI Bank Limited Regd. Office : ICICI Bank Tower, Near Chakli Circle,
Natraj Mansion, Main Road, Old Padra Road, Vadodara 390 007,
Bistupur, India.
Jamshedpur 831 001, Website www.icicibank.com Corp. Office ICICI Bank Towers, Bandra-Kurla
Jharkhand, India. CIN :L65190GJ1994PLC021012
Complex, Mumbai 400051, India.
ICICI Bank
portal. Two level of authorisation would be setup in Branch
Login. Sample checking activity will not to be performed
when branch is verifying the invoices.
4. Due date provided by vendor would be considered as final
and that would be as per agreed terms with vendor and TSL.
The calculation of due date for
each invoice in such file will include all type of usance
(Credit Period, additional dynamic period and 5 days cooling
period) so as to match exactly with the date when TSL is
going to make the payment. If the payment is not received
and settled by the due date, invoice will go overdue from the
next day.Bank will take regular interest from discounting
date till the due date and overdue interest post that in case
any overdue happens. The overall tenor of each credit shall
not exceed the sanction period of 180 days.
5. Credit period is the period agreed credit terms between
Tata Steel and the vendor and is constant. Additional
dynamic period is over and above the agreed credit period
which is communicated by TSL to the vendor and may vary
from time to time. Cooling period is due to payment cycle
followed by TSL, of making
the
payment once a week irrespective of the due date,
accordingly additional 5 days to be permitted to realise the
payment and thus vendor to enter the exact due date of
payment release. The same can be cross validated through
TSL.
6.Discounting proceeds after deducting interest would be
remittedto the vendor's current
account/working capital
account as specified in vendor on boarding
application form.
7. Upon receipt of funds from TSL the funds will be
appropriated as follows: a) On due date TSL will credit the
designated office account for payment due for each vendor
and credit would be given at vendor level and TSL will
share
the advice with ICICI Bank Ltd.
b) Any invoice which is not entered in FSCM and that
payment is received, will be separately paid by branch to
respective vendor through
NEFT/RTGS, however if any invoice discounted in FSCM is
overdue or falling due
on that day that invoice will be
settled
first. If any balance is
left, same to be credited to vendor manually through
NEFT/RTGS.
c)Any invoice which is entered in FSCM and not discounted,
however payment of that invoice is received, same to be
paid to vendor's accounthowever, if
ICICI Bank Limited Regd. Office :ICICI Bank Tower, Near Chakli Circle,
Natraj Mansion, Main Road, Old Padra Road, Vadodara 390 007,
Bistupur, India.
Jamshedpur 831 001, Website www.icicibank.com
Jharkhand, India. Corp. Office ICICI Bank Towers, Bandra-Kurla
CIN:L65190GJ1994PLC021012 Complex, Mumbai 400051, India.
ICICI Bank
any invoice is overdue/due on that day, that invoice to be
settled first rather than the invoice which is not discounted in
FSCM. If any balance is left post payment of overdue
invoice/invoice falling due on that day, then the non-
discounted invoice to be paid to vendor to the tune of
available amount.
8. TSL/Vendor will share payment advice/Bill wise payment
details so that respective bills can be knocked off.
9. In case the account is credited before the due date (for
which interest has been recovered) it will be refunded back
to the vendor by the Branch manually
10. Any overdue interest (beyond due date) would be
recovered manually from vendors till the time e NACH
functionality is activated. In case when payment for
discounted bill not received beyond due date as by
given the
vendor, the same would recovered from the vendor through
manual mode from branch.
Additional Condition Business Team to obtain declaration from vendor that
vendor bill discounting limit would be excluded from
receivables for computation of drawing power with the
working capital bankers.
The vendorto submit declaration that he has not availed
dual financing under the same bill.
The Vendorls) shall inform their working capital bankers
regarding sanction of the Facility.
Other Conditions Invoices which are more than 60 days old shall not be
considered for the facility.
At the request of the corporate and for the purpose of
bill discounting under the Facility, the Vendor shall
create a login ID for the Bank to allow access to the
vendor portal for the purposes of verification of
information provided by the Vendor. The Vendor shall
comply with all the formalities of the creation and
maintenance of the Bank's access to the portal and
inform the Bank promptly of any issues in relation to
the portal and its use.
ICICI Bank Limited Regd. Office :ICICI Bank Tower, Near Chakli Circle,
Natraj Mansion, Main Road, Old Padra Road, Vadodara 390 007,
Bistupur, India.
Jamshedpur 831 001, Website www.icicibank.com Corp. Office: ICICI Bank Towers, Bandra-Kurla
Jharkhand, India. CIN:L661906J1994PLCo21012 Complex, Mumbai 400051, India
ICICI Bank
The Vendor undertakes and confirms that all
information shared by the vendor is true, valid, correct
and has not been altered in any manner whatsoever,
further the Vendor shall upload only accepted invoices
on FSCM for the Bank to verify against the ones
uploaded on the vendor portal
The Vendor shall on demand indemnify the Bank on
account of any loss or damage, costs, claims incurred
by the Bank, on account of discrepancy on the vendor
portal.
In case of short/non receipt of funds from the
Corporate on the due date of discounted invoice, the
invoice proceeds received from Tats Steel of non-
discounted invoice will be adjusted against the
discounted invoice also applicant to make
good such
short/non-payment ofinvoice to clearthe bank dues.
"Bank Acknowledgment"
(Relationship Manager/Bank Official not below the rank of Manager must acknowledge copy
of the application and ensure that application contains all the Applicant's signatures on same
page
I confirm that I have provided a copy of the Application Form and of the General Terms and
Conditions to the Applicant as an acknowledgement and the Applicant has signed the
Application Form in my presence.
Employee ID: Name Signature
ICICI Bank Limited Regd. Office : ICICI Bank Tower, Near Chakli Circle,
Natraj Mansion, Main Road, Old Padra Road, Vadodara 390 007,
Bistupur, India.
Jamshedpur 831 001, Website www.icicibank.com Corp. Office: ICICI Bank Towers, Bendra-Kurla
Jharkhand, India. CIN :L65190GJ1994PLC021012 Complex, Mumbai 400051, India.
