This- is a contract between a borrower and Standard Chartered Bank whereby Standard Chartered Bank provides the borrower with a certain amount of currency (domestic or foreign), for a period in excess of one day and not exceeding one year. Bridging Loans are a structured form of borrowing that are generally refinanced through a term loan, bond or IPO (amongst others) Drawings against the loan are usually made in one amount and once the loan is drawn, further drawings are not permitted even if repayments have reduced the principal amount. The limit must be reduced as repayments are received. Interest is charged on the outstanding balance at an agreed rate with repayment aligned to the timing of the source of repayment.
The customer should forward the following documents to Standard Chartered Bank for credit evaluation:
On receipt of the above financials OCC will carry out a detail analysis of the information submitted and provided it falls within the acceptable credit requirements of Standard Chartered Bank, a site visit to the company and factory will be done. Terms and conditions pertaining to the borrowing will be listed in the indicative letter of offer by the Standard Chartered Bank to the customer. Once customer accepts the indicative letter of offer, a letter of offer will be sent for acceptance to the company‟s board of directors.
This is to inform that by clicking on the hyperlink, you will be leaving www.sc.com/lk and entering a website operated by other parties:
Such links are only provided on our website for the convenience of the Client and Standard Chartered Bank does not control or endorse such websites, and is not responsible for their contents.
The use of such website is also subject to the terms of use and other terms and guidelines, if any, contained within each such website. In the event that any of the terms contained herein conflict with the terms of use or other terms and guidelines contained within any such website, then the terms of use and other terms and guidelines for such website shall prevail.
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