Money owed to your business by customers, usually categorized by age (e.g., less than 90 days).
Form NF1003 is the official stock and debtors statement template prescribed by Canara Bank for its commercial borrowers. When a bank lends working capital against inventory and receivables, it needs regular assurance that the value of the security covers the outstanding loan amount. Form NF1003 serves as the legal declaration of these asset values. Why It Matters
A means the form is obtained from an official or bank-authenticated source , ensuring:
: Listing book debts, typically categorized by age (e.g., less than 90 days). Money owed to your business by customers, usually
Goods currently on the factory floor. Finished Goods: Complete products ready for sale.
The form must be signed by:
is the Simplified Stock Statement form used by Canara Bank for borrowers with working capital credit limits up to ₹10 lakhs . It serves as a periodic declaration of a business's inventory and receivables, which the bank uses to calculate the Drawing Power (DP) of a Cash Credit (CC) or Overdraft (OD) facility. Essential Components of Form NF1003 Form NF1003 serves as the legal declaration of
Valuation is done at cost or market price (whichever is lower). Creditors (unpaid stock) have been accurately deducted.
The form must be signed by the authorized signatory/borrower. Important Tips for Submission
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Always reconcile the stock statement with your internal books of accounts before submission.
: Statements must typically be submitted by the 7th to the 15th day of every calendar month for the preceding month's data. Late submissions trigger penal interest charges on the outstanding loan balance.
Deduct the value of unpaid stocks (sundry creditors) to arrive at the . Step 3: Debtors Ageing Analysis
A: No, for an official statement with a bank stamp (required for many official purposes), you must request a printed copy from your home branch.