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Account Name
Addressable
Account Number
Account Description
Branch
Drawing Power
Interest Rate(% p.a.)
MOD Balance
CIF No.
IFS Code
MICR Code
Nomination Registered
Balance as on 1 Jan 2018:Mr. PERIOD
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How to fill out drawing power
How to fill out drawing power:
01
Begin by gathering all the necessary information and documents required for the drawing power form. This may include financial statements, business plans, and any other documents requested by the financial institution.
02
Carefully review the drawing power form and ensure that you understand all the sections and instructions provided. If there is any confusion, seek clarification from the financial institution.
03
Start by filling out the basic information section of the drawing power form. This may include your company name, address, contact details, and other relevant information.
04
Provide accurate financial information in the designated sections of the form. This may include details about your company's revenues, expenses, assets, liabilities, and any outstanding loans or credit facilities.
05
Describe the purpose for which you are seeking drawing power. This could be for working capital, expansion plans, equipment purchases, or any other specific purpose.
06
Clearly outline the desired amount of drawing power that you require. This should be based on a careful assessment of your financial needs and future projections.
07
Attach any supporting documents as requested by the financial institution. These may include bank statements, audited financial statements, income tax returns, and business projections.
08
Review the completed drawing power form thoroughly before submitting it. Ensure that all the information provided is accurate, consistent, and supported by the necessary documents.
09
Submit the filled-out drawing power form to the designated authority at the financial institution. You may be required to pay a processing fee or provide additional information, so be prepared for any further steps.
10
Await the decision from the financial institution regarding your drawing power. The outcome will depend on various factors such as your financial stability, credit history, and the viability of your business plan.
Who needs drawing power:
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Small and medium-sized businesses that require additional funds for working capital or expansion purposes may need drawing power.
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What is drawing power?
Drawing power refers to the maximum amount of funds that a borrower can withdraw from a line of credit or overdraft facility.
Who is required to file drawing power?
Borrowers who have a line of credit or overdraft facility are required to file drawing power.
How to fill out drawing power?
Drawing power can be filled out by providing the necessary financial information and documentation to the lending institution.
What is the purpose of drawing power?
The purpose of drawing power is to determine the maximum amount of funds that a borrower can access from their credit facility.
What information must be reported on drawing power?
Information such as the borrower's financial statements, cash flow projections, and collateral details must be reported on drawing power.
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