About financing transactions that exchange performance for payment ―
Service Buyer/s to submit to Service Seller — completion of below highlighted info and bank proof of Service Buyer/s Service Costs & Service Fee — in exchange for 'draft' Memo of Understanding 'MoU'.
Service Attorney commitment to match MoU with Bank Trust account agreement/s under below terms.
Proof of performance after proof of payment = 1% of Payment Guaranty amount (minimum $100±Thousand fee) for 28±day Service Period; or
Proof of performance before proof of payment = 5±% of Payment Guaranty amount (minimum $200±Thousand fee) for 28±day Service Period.
- Service Costs = Service Buyer party/s to pay via Service Attorney upon approval of draft MoU = $25±Thousand / $50±Thousand for proof of performance before proof of payment.
About Service Seller (USAsset) & Service Buyer/s commitment/s to each other — to exchange performance funding for payment guaranty — confidentially via a Bank 'Trust' Guarantor exchange.
Guarantor/s = U.S.A. bank/institution/entity website, with capability, services, resources, legal authority & duty, & creditworthiness to guarantee bankable commitment/s &/ guaranty/s.
- Guaranty/s = legally effective instrument/s that pay $amount directly & automatically to the guaranty holder/s under certain condition/s &/ time.
- Commitment/s = a message from Guarantor to Guarantor confirming a guaranty.
About Service Attorney — after receipt of Service Costs — to
establish U.S.A. Bank 'Trust' Custody &/ Escrow account 'agreement/s &/
guaranty/s' that match 'MoU' agreement; then upon execution of Trust account agreements and deposit of Service Fee; then Trust to open for exchange.
Proof = Trust to email receive within 10±days — then 'confidentially' verify & confirm the Guarantor 'before' commitments are/not legally effective — then within 10±days if effective, Trust to receive & verify the Guarantor 'after' commitment/s match; then
Clear = Trust to facilitate the final Guaranty document/s between Guarantor/s — then Guarantor/s to transfer payment guaranty/s &/ performance funds to Trust — then
Settle = Trust, prior to Service Period time expiration/within 5±days after receiving funds — to exchange the Performance Funds equal to 100% of Payment Guaranty/s (Funder transfers LTV±rate in USDollars & Trust transfers balance in Payment Guaranty/s); less below amounts.
- Transaction Cost = Trust to pay from Service Buyer USD funding proceeds; any Costs due, any costs estimated until closing, and to reimburse Service Fee paid costs; then
- Funding Fee = Trust to pay from Service Buyer funding proceeds per Service Seller instructions = 12% for 1-year or 1.5% for each 28-day service period ($100±Thousand minimum for either option); then
- Proceeds = Trust to pay guarantor/s, then agreed entities, then balance to Service Buyer.
Close = occurs upon default, change, payment of Guaranty/s, Service Period expiration.
- Default occurs if Guarantor/s fails to make/cause legal and effective exchanges with Bank Trust-Escrow-Custody, at certain events &/ times; then Service Fee balance, less any Transaction Costs — is paid to Service Seller if Service Buyer Guarantor defaults; or Service Fee depositor bank is paid balance if Service Seller Guarantor defaults.
- Change occurs if Service & applicable Parties mutually make written change.
- Close upon payment of issued Guaranty maturity or Service Period expiration — the longer time period takes precedence.
Performance is via Bank Trust – see About Us
For Accredited or Sophisticated Service Buyers Only
Subject to change.