Purchase Bill Discounting
Purchase Bill Discounting
When you are having difficulty controlling your business cash flow owing to a lack of stopped bills, consider using collateral-free working capital for day-to-day business operating needs, where you only pay a proportion of the actual payment as a charge to the lender.
Why choose us:
- A cutting-edge digital platform with a service-oriented design
- Convergence with Statutory Bodies is smooth.
- Advanced Algorithms for Borrowers and Lenders Linking
- It saves you both time and money.
- Data Safety and Security
Purchase bill discounting Eligibility Criteria
- The concerned clients must place a sales order.
- The customer must create an invoice for the precise amount that is owed.
- Must provide the exact date on which the unpaid payment is to be made.
- The minimum period of business existence should be ten months.
- A credit score of at least 650
- Individuals must be between the ages of 24 and 65.
Documents Required
Individual
- Two Photographs
- Pan Card Copy
- Aadhar Card + Passport
- Address Proof If Rented Also Required Permanent Address Proof
- Last 3 Years Form -16, ITR With Computation Of Income If File
- Last 3 Years Form -16, ITR With Computation Of Income If File
- Loan Schedule & Sanction Letter (If Running)
- Complete Property Papers With Chain & Map +Ats
- Processing Fee Cheque In Favour Of the Bank
- Last 3 Months’ Salary Slip + Appointment Letter
Prop Firm
- Photograph Both
- Pan Card Clear Copy Proprietor
- Address Proof (Pass Port, Voter Id Card) Proprietor
- Office Address Proof Latest (Electricity Bill, Telephone Bill)
- Firm Registration Certificates & GST Registration Copy
- Last 1 Year GST Return Copy
- Firm 3 Years ITR Computation, Profit Loss A/C, Balance-Sheet, Tax Audit Report, All Scheduled & Annexure
- Provisional Financial Ay 2023-24
- Bank Accounts (Current Account, Cc Account, Od Account Last 1 Year Updated)
- 6 Month Saving Account Statement Updated (Proprietor)
- If Running Any Loan Please Provide a Sanction Letter And Repayment Scheduled
- Agreement To Sell Copy
- Property Papers With Chain Sanction Map
Partnership Firm LLP
- Photograph Partners
- Pan Card - Company, All Partners
- Address Proof - All Partners (Pass Port, Voter Pan Card, Adhaar)
- Firm Address Proof- Latest Any Utility Bill
- Partnership Deed Copy
- GST Certificate
- GST Return Last 1 Year
- 3 Year Company ITR Coi P/L A/C Balance sheet + Audit Report 3cb 3cd, All Annexures, Scheduled With C.A. Certified
- Provisional Financial Ay 2023-24
- 3 Years all Partner Individuals ITR + Computation
- Firm All A/C Bank Statement 1 Year Updated
- All Partner Saving A/C Statement 6 Month
- If Running Any Loan – Latest Sanction Letter + Track Records Or Repayment Scheduled
- Agreement To Sell Copy
- Property Papers Complete Chain With Map
PVT LTD
- All Director’s Photograph
- Clear Pan Card - Company And All Directors
- Address Proof – Company And Directors
- List Of Director& Share Holder With Ca Certified As On Date
- Memorandum Order In Hand And Complete Copy (If Applicable)
- GST, Sale, Vat, And Ssi Registration Certificate
- 1 Year GST Returns
- All Directors Individuals ITR & Computation Last 3 Years
- Last 3 Years Complete Financial With Tax Audit Report And Annexure
- Provisional Financial Fy 2023-24 Or Month Wise Sale Figure Last 1 Year
- Company All Bank Account Statement 1 Year Updated
- All Directors Saving A/C Statement 6 Month
1. Is receiving an LC Discounting good or Bad?
It is seen to be a good approach to increase firm liquidity.
2. What are the different types of LC Discounting?
Typically, there are five forms of Letter of Credit Discounting, as listed below:-
- Revocable
- Irrevocable
- Transferable
- Confirmed
- Unconfirmed
3. Who qualifies for LC Discounting?
Any company, whether a sole proprietorship, a private limited company or a partnership. Minimum business continuity should be 5 years, and turnover should be 100 crores.
