You can use electronic tools like pdfFiller to edit and sign the form, and then email it to the bank, saving time.
Input the total amount of book debts that fall within the bank's permissible age limit (usually under 90 days).
A signed statement confirming the accuracy of the stock and that the inventory is sufficiently insured. Submission Process Stock Statements to Bank - Dhruva Industrial Consultants
: Access the Canara Bank Download Center or the Forms Section and search for " NF 902 ". Canara Bank Occ Stock Statement Form Download
: If stock is stored in multiple locations, details must be provided "godown-wise" with full addresses for each site. on how to calculate the Drawing Power for your specific credit limit? Download Center - Canara Bank
To maintain a healthy relationship with Canara Bank and prevent operational disruptions, adhere to these guidelines:
The OCC stock statement form is a mandatory financial document required by Canara Bank from borrowers who utilize working capital limits like Cash Credit (CC) or Open Cash Credit (OCC). This form serves as proof of the value of the inventory and debtors against which the bank has extended the loan. You can use electronic tools like pdfFiller to
Net Funded Stock=(Total Eligible Stock−Creditors)+Eligible DebtorsNet Funded Stock equals open paren Total Eligible Stock minus Creditors close paren plus Eligible Debtors
Submit the form by the 7th to 10th of every month for the preceding month's inventory.
Ensure the policy coverage value is higher than or equal to the peak stock value declared. Step-by-Step Guide to Filling out the Form Submission Process Stock Statements to Bank - Dhruva
You must segregate your outstanding receivables into brackets (e.g., 0–30 days, 31–60 days, 61–90 days, and above 90 days). 3. Creditors List (To Calculate Paid Stock)
A significant drop in stock value could affect your Drawing Power. Your best course of action is to , explaining the reason (e.g., seasonal decline, one-off large sale). Open communication is key to maintaining trust.
If you need help with a particular section of the form, such as calculating the or margin , I can provide specific examples. Tips on handling Sundry Creditors in the stock statement. Information on the penalties for late submission. Canara Bank OCC Stock Statement NF-540 | PDF - Scribd
Banks do not fund 100% of your stock. If Canara Bank mandates a 25% margin, they will fund 75% of your Net Paid Stock.
If you are searching for the link, you have come to the right place. This article provides a step-by-step guide, explains the importance of the form, breaks down its components, and offers troubleshooting tips for a hassle-free experience.