Bank Guarantee Commission

• Simplified processing
• Lowest processing fee
• Collateral free loan is available
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Eligibility Criteria


What you mean by Bank Guarantee Eligibility Criteria?

Bank guarantees are made by bank giving the commitment of liabilities of debtor will be provided in case he or she failed to make payments. Bank guarantees process take place to promote domestic & international trade. Not everyone able to apply, there is a specific eligibility you need to look forward.

Bank Guarantee Eligibility Criteria

Bank Guarantee Eligibility Criteria depends on various factors like age of individual, repayment history, business sales/turnover, total work experience & Creditworthiness …etc.

Eligibility Criteria for Self-Employed

  • • Age Limit of Self –Employed Individuals – 24 to 65
  • • WMust have good financial record
  • • Minimum Years of Business continuity –2- 5 Years

Documents Required


 

  1. ALL DIRECTORS PHOTOGRAPH
  2. CLEAR PAN CARD – COMPANY AND ALL DIRECTORS
  3. ADDRESS PROOF – COMPANY AND DIRECTORS
  4. LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE
  5. MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
  6. GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
  7. 1 YEAR GST RETURNS
  8. ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
  9. LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
  10. COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
  11. ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
  1. PHOTOGRAPH BOTH
  2. PAN CARD CLEAR COPY PROPRIETOR
  3. ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
  4. OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)
  5. FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
  6. LAST 1 YEAR GST RETURN COPY
  7. FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT
  8. REPORT, ALL SCHEDULED & ANNEXURE
  9. PROVISIONAL FINANCIAL AY 2019-20
  10. BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED) BANK ACCOUNTS) 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
  11. IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
  12. AGREEMENT TO SELL COPY
  13. PROPERTY PAPERS WITH CHAIN SANCTION MAP
  1. PHOTOGRAPH PARTNERS
  2. PAN CARD – COMPANY, ALL PARTNERS
  3. ADDRESS PROOF – ALL PARTNERS (PASS PORT, VOTER I PAN CARD ,ADHAAR)
  4. FIRM ADDRESS PROOF- LATEST ANY UTILITY BILL
  5. PARTNERSHIP DEED COPY
  6. GST CERTIFICATE
  7. GST RETURN LAST 1 YEARS
  8. 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED
  9. PROVISIONAL FINANCIAL AY 2019-20
  10. 3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
  11. FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
  12. ALL PARTNER SAVING A/C STATEMENT 6 MONTH
  13. IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED
  14. AGREEMENT TO SELL COPY
  15. PROPERTY PAPERS COMPLETE CHAIN WITH MAP
  1. ALL DIRECTORS PHOTOGRAPH
  2. CLEAR PAN CARD – COMPANY AND ALL DIRECTORS
  3. ADDRESS PROOF – COMPANY AND DIRECTORS
  4. LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE
  5. MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
  6. GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE.
  7. 1 YEAR GST RETURNS
  8. ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
  9. LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
  10. PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
  11. COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
  12. ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
  13. IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED
  14. AGREEMENT TO SELL COPY
  15. PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP

Frequently Asked Questions


 

Applicant applying for BG facility must have existing 3 years of business continuity with latest year with profitability & should have good credit history.

Not only for business even individuals can avail this type of facility for lowering risk if opposite party fails to make payment then banks will pay you to cover up the sum amount.

Bank Guarantee are usually used for infrastructure & contract projects wherein Letter of Credit preferred for international trading.

You can easily get this type of facility offered by SBI State Bank of India at competitive Interest Rates with minimal documentation.

Copy of BG obtained by the beneficiary, reason to avail Bank Guarantee & other details of Collateral/Assets that will be pledged.

It’s simple to calculate BG limit, just by dividing the annual utilization of raw material procuring upon Bank Guarantee to be divided by 12 & finally multiplied by total time. Hence, you can able to calculate the limit.

This facility is generally offered by banks & financial institution, Bank Guarantee acts as a promise to cover sum amount & gives the surety of amount to be paid in case debtor fails to pay.

 

There are 6 major types of Guarantee as given below:-

  • Foreign Bank guarantee
  • Advance payment guarantee
  • Earnest money deposit guarantee
  • Deferred payment guarantee
  • Performance guarantee
  • Financial guarantee