APPLICATION FORM FOR LOANS AGAINST
WAREHOUSE RECEIPT BACKED BY COMMODITIES

To,
State Bank of India
………………………. Branch
Dear Sir,
I/We,
1. (i) Name of Company/ Firm ____________________________________________
(ii) Address: ________________________________________________________
___________________________________________________________________
___________________________________________________________________
Telephone No . ___________________________________________________
e-mail: _________________________ Fax: ______________________
2. Name and Address of Directors/ Partners/ Proprietors/ Indi viduals
1) _________________________________________________________________
___________________________________________________________________
Telephone No . (R) _______________ (O)__________________
e-mail: _________________________ Fax: ______________________
2) _________________________________________________________________
___________________________________________________________________
Telephone No . (R) _______________ (O)__________________
e-mail: _________________________ Fax: ______________________
SIGNED
PHOTOGRAPH
OF
APPLICANT
3) _________________________________________________________________
___________________________________________________________________
Telephone No . (R) _______________ (O)__________________
e-mail: _________________________ Fax: ______________________
(ii) Name of Chief Executive Officer/ Managing Partner (If applicable)
1) _________________________________________________________________
___________________________________________________________________
Telephone No . (R) _______________ (O)__________________
e-mail: _________________________ Fax: ______________________
3. Date of Incorporation/ : _________________________
Registration of Day Month Year
Partnership Firm __________Years
Hereinafter referred to as the “Borrower” hereby request you to grant demand loan of Rs.
____________________ against the security detailed in Paragraph 7, below. Other
information/ details are as under :
4. Turnover and Profits 2004 - 05 2005 - 06
Turnover ___________________ ____________________
Net Profits ___________________ ____________________
5. Proposed Repayment Period : __________Months (Max 12 months)
6. Details of Bank Account : Applicant 1 Applicant 2 Applicant 3
Name of the Branch ____________ ____________ ____________
Telephone No. : ____________ ____________ ____________
Type of Account: ____________ ____________ ____________
Account Number: ____________ ____________ ____________
Year of Opening : ____________ ____________ ____________
7. Nature of security offered: Warehouse Receipt backed by Commodities detailed
below
Description of Gross Wt.
Commodities (In Quintals)
--------------------------------------------------------- --------------
--------------------------------------------------------- --------------
9. Details of Warehouse Receipt (to be attached with application letter)
Name of Issuer
Name of Commodity
Quantity of Commodity
Validity of Warehouse Receipt
Details of Quality Certificate
Name of Issuer
Name of Commodity
Quality of Commodity
Validity date and period of certificate
Renewal Date
Please take delivery of the Warehouse Receipt, as detailed in Para 9 above and grant me/
us loan of Rs. ___________ against secur ity thereof,
I/We, further accept and agree to be bound by all the terms and conditions of
finance under the scheme as detailed in Table A – Terms and Conditions for
Warehouse Receipt Financing attached herewith.
Signatures of : _______________
Borrower/ Applicant
A/C no. (if any):_________________
Declarations:
I/We declare that all the particulars and information given in the application form are
true, correct and complete and that they shall form the basis of any loan, State Bank of
India may decide to grant me/us.
________________________
Place :_______________ Signature of Applicant
Date :_______________
FOR BANK’S USE
AV of security offered:______________ Margin: _____ % Loan permissible:
___________(A)
Loan Requested: ______________________(B)
Loan Recommended: ____________________ (A, B or Loan requested, whichever is
lowest)
Recommended : _______________ Sanctioned :_____________
Date :__________________ Date:____________
Documents to be attached:
In case of Company
- Memorandum and Articles of Association
- Certificate of Incorporation
- Copy of Resolution of BOD for opening of the account
In case Partnership and Proprietorship
- Copy of Partnership Deed and Partnership Letter (only partnership)
- Copy of Passport or Voters ID Card or Driving License for proof of Identity
- Copy of Electricity Bill/Telephone Bill/Passport/Voters I-Card for proof of
residence
- Latest Passport size Photograph - of applicant (s)
- Proof of official address
Table A- Terms and Conditions of Finance
Purpose a) To finance traders against warehouse receipts of
CWC/SWC warehouses, & warehouse accredited by MCX
by way of demand loans.
Eligibility Any trader dealing in commodities.
Eligible amount of
finance
Demand Loan: 75 % of the value of the warehouse receipt,
valued at the market value OR
80% of the minimum support price declared by
State/Central Government, whichever is lower.
Loan category
Interest Rate to be
Charged
Upto Rs. 10 Lacs
0.50% Below SBAR
Effectively 10.25%
Above Rs. 10 Lacs
0.25% Below SBAR
Effectively 10.50 %
Interest Rates (in
percentage)
• In addition to the above-mentioned Interest rates the
ZCC will have powers to reduce the interest rates on
loans in the Rs. 10 lacs and upto Rs. 25 Lacs category
by upto 25 bp and by 50 bp in case of loans above Rs.
25 Lacs based on competition and strengths of
proposal.
Processing charges Nil
Margin 25% (minimum) of the value of the warehouse receipt,
valued at the market value OR
20% (minimum) of the minimum support price declared by
State/Central Government, whichever is higher
Insurance Comprehensive Insurance
Insurance cost to be borne by the warehouse receipt owner.
Security
a) Primary Charge over warehouse receipt (resulting in charge over
under lying goods), being endorsed in favour of the bank.
b) Collateral Personal guarantee of partners or major shareholders as the
case may be.
Repayment The loan should be liquidated as and when the produce
is sold during the interim period not exceeding 12
months.
Moratorium None. The loan would be repayable in a maximum period
of twelve months. Interest as and when due would be
payable.
a) The Warehouse receipt should be duly endorsed in
favour of the bank.
b) The branch should verify the authenticity of the
warehouse receipt and get its lien noted with the
warehouse before disbursal of the loan.
c) The Branch should inspect the commodity before
disbursal takes place and subsequently, every three months
at irregular intervals.
Other terms and
conditions
d) The margin shall be topped up on a fortnightly basis.
However, it should be topped up immediately in case
the price of commodity moves by more than 10%, in
opposite direction, since last top up.