KEY TERMS AND CONDITIONS
These are the typical terms and conditions for the product; lenders may impose other conditions
or change these conditions, as per their internal norms.
PURPOSE
Supplier Finance facility to the suppliers of “Customer” (Debtor) for their
supplies /services made to “Customer” against invoices and corresponding
acknowledgement/verification made on billionloans portal by “Customer”.
PROGRAM DURATION
One year, renewable annually by mutual consent.
TENOR
Maximum 90 days from the date of Invoice.
REPAYMENT
- Customer to route all payments to Supplier through designated account
based on the request made by Supplier. All repayments made by Customer
to the designated account as requested by Supplier is a legal and valid
payment to Supplier.
- Repayment towards invoices discounted under program will be through
payment received from Customer.
- In the event of non-receipt of payment on due date, supplier to make
payment for the same from own sources.
SUPPLIER ELIGIBILITY
- Financing available only to domestic suppliers / service providers.
- Established track record as supplier to Customer.
- Good payment track record (low rejection/part payment) on past invoices.
- Positive Net Worth and PBT in last financial year as per audited financials.
- No recent legal dispute/default with Customer.
- Should not be on RBI/CIBIL defaulters’ list; no SMA history, restructuring,
BIFR or similar.
- Any other normal assessment criteria for e.g. financials (will be firmed up
when final sanction issued
DOCUMENTATION
Standard KYC and loan documentation to be executed prior to sanction (following list is for reference only):
loan application form, company and promoter profile along with KYC documents, audited financials for last 3 years, 6 months bank statements, sanction letters of existing loans,
12 months VAT/GST returns, sales ledger extract showing 12-month transaction history with “Customer”
COVENANTS
Standard covenants & conditions e.g. end-use of funds, drawing power,
compliance with RBI guidelines etc.,