Baroda Contractor Scheme Mumbai

Scope of the Scheme

To meet the credit needs of contractors engaged in the execution of civil engineering contract works awarded by BMC/Civic Agencies operating in Brihan Mumbai Metropolitan Region.

Constitution Coverage

All categories of the applicants irrespective of their constitution, engaged in execution of civil engineering contracts.

Entry Level Norms:

• Registered contractors of BMC/Civic Agencies operating within the greater Mumbai Metropolitan Region.
• Registration of our bank accounts with BMC/Civic Agencies.

Nature of Facility

Overdraft: Towards normal day-to-day WC needs.

Bank Guarantee: For issuance in favour of BMC/Civic Agencies Solvency Certificate – for participating in tenders.

Exposure Ceiling Norms

• Scheme specific constitution-wise exposure ceiling norms in respect of applicants falling under the category of proprietary concerns, partnership firms, trusts and societies are stipulated uniformly at Rs. 40 crores,
• Mobilization Advance Guarantee shall generally be restricted to 20% of total BG facility in the normal course. Relaxations in sub-ceiling can be considered with the specific approval of the ED.

Margin Standard

Overdraft:

• 25% of chargeable current assets.

Bank Guarantee:

• Cash margin not lower than 10% (within the bandwidth of 10%-25%).
• Market value of properties not below 15% of BG facility.
• 100% cash margin in case of guarantees covering disputes, court cases, etc.

As per CMR and CR Guidelines.