Time loan- Work Order
Time Loan-Work Order is allowed favoring a contractual firm for execution of work/supply order awarded from the Govt., Semi-Govt. and autonomous bodies.
- Usually disbursement is made with the progress of execution
- Usually customer is allowed up to a certain percentage (%) of the construction work order and supply order value
- Validity of the facility is matched with the validity of work/supply order
- It is adjusted (gradually) through making proportionate deduction from the assigned bills received from the work/supply order awarding authority
- Primary security: Assignment of the bills against the work/supply order