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A. General Charges
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1
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Account Service Charges
- Account Statement
- Signature Verification
- Issuance of Reference Letter
- Instruction for change in authorized signatory in Account
- Certificate of Account Balance
- Audit Confirmation Report
- SWIFT
- Issuing any Other letter / certificate
- KYC renewal charges#
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USD 25 per instance
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# KYC renewal charges (if any of the KYC documents provided by the customer are expired then customer need to provide updated / new documents within 1 month. If the customer fails to do so, charges to be levied, etc. IBU CEO can waive the same upto 100%.
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2
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Old Record Enquiry (up to availability of records)
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- Same FY/Previous FY: USD 25
- Beyond two FYs : USD 50 per year
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3
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Postage (Per set of Documents)
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- Local (Post/ Courier) : USD 10
- International (Post/Courier): USD 25
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4
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Company search fee/Due Diligence
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Actual charges to be recovered
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5
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Any Other Charges
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B. Remittances*
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1
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Inward Remittance
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Nil
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2
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Outward Remittance (By SWIFT) other than loan (trade loan/term loan) disbursement.
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Current Account
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- <= 1000 – USD 10
- > 1000 – USD 25
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Escrow Account
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- Upto 10 Txns. p.m. – Free
- > 10 Txns. p.m. – USD 25 per txn.
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*Note: Amount deducted/ charged by the correspondent bank for remittance will be over and above the charges mentioned above. For remittances in currencies other than USD, equivalent charge in currency of remittance to be levied.
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C. Advances
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1
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Processing /Upfront Charges under bilateral arrangement
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I) Fresh/Renewal/Review of Working Capital limits (FB & NFB)
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0.25% per annum. Minimum USD 500.
No maximum cap.
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II) Ad-hoc Limits
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0.40% (flat) of Ad-hoc amount with Min. USD 1000
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III) Term Loan
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Min 1.00% at sanction (0.1% at renewal on reviewed limit). No maximum cap.
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2
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Modification in Terms and Conditions of Sanction
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- For loans up to USD 2 Mio : USD 1000
- For loans above USD 2 Mio: USD 2000
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3
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Document / Vetting Charges/ Other out of Pocket Expenses
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Actual Charged by Solicitor / Other legal charges/ documentation charges
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4
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Obtaining Credit/ DNB/ CCRA reports/ TEV study charges etc.
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Actual charges as applicable
(To be recovered from customer)
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5
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Penal interest charges
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2% over and above the applicable ROI on the overdue / Excess amount.
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6
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Commitment charges (applicable on quarterly basis)
- Regular working capital limits, under bilateral arrangement
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- Quarterly average utilisation below 60% of limit: 1% p.a.
- Quarterly average utilisation below 25% of limit: 1.50% p.a. it is to be charged on the amount underutilization below 60%.
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7
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Advances other than above which are Arranged & Negotiated i.e. Syndicated / ECB / Bilateral loans/ Clubbed Deal
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Various charges as per the respective sanction / facility agreement are to be recovered.
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8
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Handling Charges for Trade Credit Including Buyer’s Credit
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USD 100 (Including GST) per transaction^
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9
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Handling Charges for Trade Credit Including Negotiation of Bills under duly accepted LCs Issued by approved banks
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USD 200 (Including GST) per transaction^
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10
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Reimbursement Charges for Negotiation of Bills under duly accepted LCs Issued by approved banks
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USD 150 (Including GST) per transaction^
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^IBU CEO can waive the same upto 100% subject to maintaining All-in-cost within the applicable ceiling at all times.
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D. Guarantee / SBLC Charges
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1
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Issuance of Performance Guarantee
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0.125% of guarantee value for each month and part thereof subject to minimum of 0.375% or USD 250 whichever is higher
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2
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Issuance of SBLC / Financial Guarantee
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0.15% of guarantee value for each month and part thereof subject to minimum of 0.45% or USD 250 whichever is higher
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3
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Amendment to guarantee/ SBLC
- General Amendment (without change in value or tenor)
- Increase in Value/Tenor
- Extension of Validity
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USD 50 per amendment**
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**Note: In addition to amendment charges stated above (for General amendment), Proportionate charge as applicable on Financial / Non-Financial Guarantees (as stated above) on increased amount and/or validity shall be recovered.
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4
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In Case Fully secured by cash margin/FDR
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25% of applicable charges
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5
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SBLC Confirmation
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125% of SBLC issuance charges
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6
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BG /SBLC Advising
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USD 50
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E. Import Letter of Credit
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1
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Issuance of Sight LC
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0.125% pm or part thereof of LC Amount till validity of LC (minimum one month or USD 50, whichever is higher)
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2
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Issuance of Usance LC
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In addition to the LC opening charges as stated at Sr. No.1 above, Charges for Usance Period @ 0.125% pm (or part thereof) of LC amount, or USD 100 whichever is higher.
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3
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Against 100% Cash Margin
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25% of the normal charges
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4
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Reimbursement Charges
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USD 150 Per reimbursement
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5
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Commission on Amendment to LC
- General Amendment (without change in value or tenor of LC)
- Increase in Value/Tenor of LC
- Extension of Validity of LC
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USD 100 per amendment@
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@ Note: In case of increase in amount and/or validity of LC, proportionate LC issuing charge (as stated above) on increased amount and/or validity shall be recovered in addition to prescribed amendment charges.
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6
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Discrepancy Fee
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USD 100 per presentation
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7
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LC Confirmation Charges for each quarter or part thereof
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125% of LC (Sight / Usance) issuance charges
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8
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SWIFT – Documentary Credits
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USD 50
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F. Inward Bills - Collection
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1
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Under LC/Collection
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0.125% of the value of the bill
Min. USD 50 & Max. USD 250 (To be collected upfront)
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G. Export Letter of Credit
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1
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LC Advising
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- For PNB Customers: USD 50
- For Non-Customers: USD 100
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2
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Advising of LC Amendments / Pre-Advice of LC
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USD 50
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3
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LC Negotiation
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0.125% of bill value (min. USD 100, max. USD 1000)
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4
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Facility Against 100% Cash Margin
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25% of the normal charges
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