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Bankers meet at periodical intervals
Joint unit inspections are conducted
Assessment of working capital limits is undertaken uniformly
Banks do not execute documents individually
A consortium arrangement is an agreement between two or more companies to avail their facilities and resources to each other to achieve an agreed objective.
Every member remains independent in their normal business operation
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Thank you Mr Vinod, and Mr Ibrahim, your answers are satisfied >
General Features are:
Formation of Bankers committee and conducting regular meeting at pre fixed periodical intervals to arrive a consensus on the terms and conditions for the Corporate loan.
Participative members of the consortium carry on the inspection of the unit joint for the assessment of the progress and its reporting.
Uniform procedures to finance working capital needs.
Only documentation for the Finance are undertaken by the Consortium Leader, as per the terms and conditions suggested by the consortium members.
All members channelize their finance through Consortium Leader who collect the proceeds and share among the members in the order of preference from time to time.
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