CalBank GHACEM Distributor’s Scheme
Our CalBank GHACEM scheme is structured in the form of an Overdraft or Bank Guarantee to address the credit needs of preferred/qualified distributors of GHACEM Limited.
This facility is an Overdraft facility or a Bank Guarantee with a processing fee of 3.0% flat (payable upfront). This facility gives convenience to access funds as a way of easing working capital constraints. Other details of this offering include:
- Access to readily available credit within clients own timing.
- Prompt and special attention from a dedicated account relationship manager.
- Clients shall be updated on monthly loan repayment via CalBank Alert.
- It also has a penal rate of 10% above the prevailing rate shall be charged on amount drawn in excess.
- The default charge is 2% flat on the amount outstanding on expiry.
- Interest rate shall be CalBank’s Base rate + Agreed margin.
- The purpose of the overdraft is to make payment solely for cement purchased from GHACEM Limited.
- Facility shall be drawn down after submission of purchase invoice from GHACEM Limited.
- The tenor of the facility is one (1) year but will be reviewed annually.
- Distributor’s minimum monthly turnover should be GHS 20,000.00.
- Distributor must have been a GHACEM distributor for at least three (3) years
- The distributor should have an account at CalBank or must open one.
- The client must be on GHACEM’s preferred list of distributors.
- Distributor’s storage facilities must be made of steel, brick, container or any other storage facility that may be required by GHACEM Limited.
- The facility shall be insured.
- Procure a copy of the Distributorship Agreement if any between the Distributor and GHACEM for the bank’s Director of Legal Department to review.
- Distributor must provide a mortgage in a form of landed property.
- Distributors must provide landed property as part of the security.
- Charge over distributor’s stocks.
- Assignment over the distributor’s receivables.
- Undertaking to lodge all sales proceeds with CalBank.
- Charge over CIP to be purchased in the joint names of bank and client.