|Union Bank of India
|Union e-Way Bills Solution
|To finance against domestic unpaid invoices which are registered under Goods and Service Tax Network (GSTN) system based on E-Way bill number. These invoices should be duly accepted by the purchasers in hard copy manually as per guidelines in vogue.
|All business enterprises enjoying existing Fund Based working capital facility from our Bank.
|Rate of Interest & Repayment
|Repayment: Any delayed repayment by the purchaser beyond the due date will attract penal interest as per extant guidelines.
|Primary: Invoices drawn by suppliers duly accepted by the purchaser.
As this facility is part of the total limit to be sanctioned under fund based working capital limit no separate/additional collateral is required to availment of this facility. The exiting collateral to continue.
|Composite /loan Limit
|The total limit to be sanctioned under this scheme should be within the assessed Fund based working capital limits. In case of existing accounts availing the finance under the proposed scheme, separate sub limits out of existing limits may be carved out.
|The margin applicable to existing fund based working capital limits should also be made applicable to this scheme.