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Work Order Finance

SBL provides Work Oder Financing facilities to different Sole Proprietorship/Partnership Firms/Private Limited Companies involved in CONSTRUCTION or OTHER CIVIL WORKS offered by different Govt./Semi Govt. organization, Autonomous Bodies or other organizations accepted to the Bank to complete public developmental projects. Work Order Finance enables Contractors/suppliers financial accommodation in the form of Bid Bond, SOD(EM), Performance Guarantee(PG), Advance Payment Guarantee (APG) and SOD(WO) facility to execute the work orders.

  • SOD (Earnest Money)
    • For issuance of SDRs/POs/DDs on behalf of Sole Proprietorship/Partnership Firms/Private Limited Companies involved in construction or other civil works to submit bid in a tender invited by different Government/ Semi-Govt. Organizations to complete public developmental projects.
    • “SOD (EM)” to be adjusted by depositing of the returned SDRs/POs/DDs against unsuccessful bids and to be adjusted from own source of the customer for successful bid.
    • No Cheque book to be issued against the limit
    • Reasonable Interest Rate
  • Bid Bond
    • For issuance of Guarantee or undertaking on behalf of Sole Proprietorship/Partnership Firms/Private Limited Companies involved in construction or other civil works to submit bid in a tender invited by different Government/ Semi-Govt. Organizations to complete public developmental projects.
    • Bid Bond to be adjusted through return of original instrument/guarantee.
    • Margin/Commission as per Bank’s rule.
  • Bank Guarantee (BG)/Performance Guarantee (PG)
    • After acceptance of bid or tender of a particular customer by work order inviting authority [Government/ Semi-Govt. Organizations], SBL provides Bank Guaranty in the form of Performance Guarantee (PG)/Performance Security (PS) to the authority that the customer will complete the job as per terms of the tender or to pay damage up to the guarantee amount.
    • Margin/Commission as per Bank’s rule.
  • Advance Payment Guarantee (APG)
    • SBL provides bank guarantee or undertaking on behalf of the client to enable to receive bills receivable in advance against the work awarded by different Government/Semi-Govt. Organizations, Autonomous Bodies or other organizations accepted to the Bank.
    • Guarantee covers the amount of bills receivable in advance to meet the work order execution cost i.e. Advance Rent Payment regarding rental of machinery and procurement of raw materials, etc.
    • Margin/Commission as per Bank’s rule.
  • SOD (Work Order)
    • SBL provides justifiable credit limit to the client [Sole Proprietorship/Partnership Firms/Private Limited Companies] involved in construction or other civil works awarded Work Order by the Government/Semi-Govt. Organizations, Autonomous Bodies or other organizations accepted to the Bank.
    • Facility covers justifiable required limit to execute the assigned work order.
    • Repayment to be made through the bills receivable from the work order awarding authority or from their other own sources acceptable to the Bank.
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