Deferred Payment Guarantees
The Corporation provides guarantees against deferred credit in respect of both
indigenous and imported machinery (imported machinery obtained through Authorised Indian
Agents).
The guarantees are generally provided under IDBI Bills Rediscounting Scheme and other
similar schemes of central financial Institutions. The guarantee commission to be paid is
1% p.a., and is payable in advance on the amount of guarantee extended. This facility
would be considered to companies with a good track record and will be offered on selective
basis.
The broad parameters for consideration will be
- Maximum sanction under DPG would be Rs. 200 lakhs per company
(including interest).
- Guarantee period will be for a maximum of 5 years.
- Guarantee shall be secured by exclusive hypothecation of the equipment
proposed and backed by counter guarantees/personal guarantees/corporate
guarantees.
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