Bank Guarantee with Post-Dated Check Loan Program

Transcription

1 16300 N. E. 19th Avenue, Suite 112 North Miami Beach, FL Phone: (305) Fax: (305) Bank Guarantee with Post-Dated Check Loan Program U.I.G., LLC in conjunction with the International Bank Group, is pleased to provide a unique method to fund small to medium size projects (Minimum is $5 Million). It is called the Bank Guarantee with Post-Dated Check Program. This program allows the Client to get their project funded without the Client having to pay the cost up front (except for a Nominal Engagement Fee). Please provide a check in the amount of $40,000 Engagement Fee to U.I.G., LLC as the funding group. After the Letter of Intent (LOI) is issued, you will need to wire $10,000 in legal fees for the attorney of the International Bank Group. This second $10, will be held in escrow with UIG s Corporate Attorney, Mr. Max Goldfarb. The Bank Guarantees that are provided will be from one of the Top 25 World Wide Banks. The program works as follows. The Client submits a Post-dated check for the cost of acquiring the Bank Guarantee. Post-dated checks are not legal tender anymore so whoever accepts a post-dated check does so at his own risk. The Client enters into an agreement with the Law Firm representing the International Bank Group that provides the Bank Guarantee and provides them with a Post-dated check for one year and one day (1 year and 1 day). The cost of the instrument is typically 14%. This is for providing the Bank Guarantee. The 14% is based on the loan amount which the Client requests. This is the amount that the Client would have to write on the Post-dated check along with an endorsement letter from the Client s Bank (see below). The Post-dated check will be held in an escrow account. For Example: The Client requests a loan for $5,000,000. The amount of the Post-Dated check in this example will be $700,000 ($5,000,000 X 14%). This check is made out to Pentire Associates. This is an example only. We will calculate and notify you what the exact fee amount would be and the Gross Loan Amount. The International Bank Group will fund 52% LTV of the instrument.. For the $5 Million loan example given above, the face amount of the Bank Guarantee will have to be approximately $12 Million to cover all costs. The terms for these loans are typically 1- month LIBOR + 5% (i.e. 5.25% as of June 5, 2009) for 1 to 5 years with No Pre-Payment Penalty. The Client is responsible for the Gross Loan amount (i.e. Loan amount requested + fees). In regards to funding the Bank Guarantee, the cost for that is 10% and this amount will be given with a second Post-dated check to U.I.G., LLC. This will also be held in escrow. 1

2 Upon receipt of the signed agreement and the Post-dated check, the International Bank Group will contact the Client s Bank to verify that the post-dated check is legitimate. That is, the Client does have an account with the Bank. They will NOT be verifying if the money is there in the account so the Client does not have to worry about this. The time frame from the time the Client signs the agreement, provides U.I.G., LLC with all proper documentation and gives the Post-dated checks to the time of funding is approximately 2 3 weeks. The Client has 2 options to pay for the amount of the checks: (1) The amount of the checks can be deducted from the proceeds of the loan at funding and the Client gets the balance. The checks are returned to the Client unencumbered. This is the preferred method. (2) The Client receives the funds and the International Bank Group and U.I.G., LLC submit the checks to the Client s Bank for payment. STEP-BY-STEP PROCEDURES: I) An agreement is signed between the Client and the Law Firm representing the International Bank Group that provides the Bank Guarantee. II) The Borrower will issue a Post-Dated corporate check for one year and one day (1 year and 1 day) along with Promissory Note with a Maturity Date of one year and one day (1 year and 1 day). Check and Promissory Note #1 is for the International Bank Group. Check and Promissory Note #2 is to U.I.G., LLC. The date for the check for U.I.G., LLC is 45 days. The Promissory Note for U.I.G., LLC matures at time of funding. III) A copy of the above documents is sent to the lender via for verification and authentication while the original is sent via courier. IMPORTANT NOTE: Three (3) to Four (4) banking weeks after successful verification of the check, the loan will be made available minus the amount of the check to Client and the original check is returned unencumbered. Client s Initials Client s Initials 2

3 (CLIENT LETTERHEAD) EXECUTIVE SUMMARY FORM MARK ROMERO (305) Borrower s Name & Social Security # Address City / State / Zip Code Phone # Fax # Address Project Name Type of Financing Requested Amount of Financing Requested Purpose of Loan Schedule of Use of Proceeds Amount of Down Payment (if Purchase) Loan to Value Ratio Debt Service Coverage Ratio CONTACT INFORMATION Type of Real Estate Location of Real Estate Year Borrower Purchased Property Age of Property Square Footage/Acres of Property Amount Borrower Paid for Property Borrower s Total Cash Spent on Property to date i.e. Improvements/entitlements Borrower s Current Equity in Property List of all liens/mortgage or Back Taxes against Property Percentage of Property Occupied As-Is Value of Collateral After-Completion Value ( by using only these funds ) PROPERTY DESCRIPTION 3

4 ADDITIONAL COLLATERAL Property Type Address City / State / Zip Code Value of Property 1 st Lien Balance 2 nd Lien Balance Loan Term Interest Rate Origination Points BORROWER S DESIRED LOAN TERMS Summary of the project and what borrower is looking for including any special issues, problems or needs Type of Entity Credit Score Borrower s Occupation INFORMATION ABOUT PROPOSED BORROWER Prior Project Experience Net Worth or Financial Strength of Primary Principals, excluding this project, in US Dollars Primary Principal s last 3 years average monthly income Exit Strategy What has been done thus far to Secure financing? Any other information to help understand the project. 4

5 CLIENT INFORMATION SHEET Date: 1) Client Name (Signatory): 2) Citizenship: 3) Passport Number: 4) Passport Issue Date: 5) Federal ID Number: 6) Date of Birth: 7) Home Address: 8) Home Fax Number: 9) Home Telephone Number: 10) Cellular Phone Number: 11) Address: 12) Business Name: Business Address: 13) Registered Office: 14) Registration Number: 15) Business Fax Number: 16) Business Phone Number: 17) Address: 18) Bank: 19) Branch and Branch Address: 20) Bank Officer s Name: 21) Telephone Number: 22) Fax Number: 23) Account Name: 24) Account Number: 25) Funds available for this transaction in this account: 5

6 26) Bank: 27) Branch and Branch Address: 28) Bank Officer s Name: Phone Number: Fax Number: 29) Account Name: 30) Account Number: 31) Funds available for this transaction in this account: 32) Account Signatory: 33) Total Funds available for this transaction: Funds available, in words: 34) Origin of funds: Earnings from: 35) Are funds free and clear? Yes: No: 36) Brief Overview of Corporate Activity: 37) Are there any felony charges or Yes: No: If Yes, please convictions? explain on separate sheet. It is agreed that facsimile copies of this Client Information Sheet, or any other associated documents to this transaction, are as valid and legal as delivered originals. I,, hereby swear, under penalty of perjury, the information given above is accurate and true. For and on behalf of: Your Company Name Passport, Country Witness: Witness: 6

7 Promissory Note No. : Amount : $ Amount (words): Dollars Currency : U.S. Dollars (USD) Date of Issue : 20 Maturity Date : 20 Beneficiary :, LLC For the value received: ( Maker herein after) hereby commit irrevocably, without protest or notification, to pay to the said beneficiary, its successor or assigns, against this note the sum of $ (in words Dollars) in lawful currency of UNITED STATES, upon presentation at the counter of (Name of Bank doing the confirmation below) ( herein after). Payment will be made without set -off, free and clear of any charges whatsoever. With this guarantee with herein below aval by,esq. Maker assures payment at the above-said maturity date and payment shall be made to the beneficiary named here inabove or its successor or assigns, within one (1) international banking day of herein maturity date, unless renewal of such guarantee has been agreed to, in writing, between the undersigned Maker and the beneficiary, not less than ten (10) international banking days prior the maturity date hereof. This guarantee shall conform to the Uniform Customs and Practices latest revision to ICC Publication No. 500/600 as promulgated by INTERNATIONAL CHAMBER OF COMMERCE Paris, France (ICC). CONFIRMATION AND ENDORSEMENT: On behalf of our client and for value received, We do hereby affirm unconditionally and irrevocably guarantee the terms and conditions of herein promissory, and assure payment of this instrument, at herein maturity date so specified, in the event of dishonor by as a greed. AUTHORISED SIGNATURE AUTHORISED SIGNATURE per: per: <bank officer 2> DIRECTOR & AUTHORISED SIGNATURE <title> & AUTHORISED SIGNATURE PIN/Code: PIN/Code BANK SEAL BANK SEAL Sworn before me this day of, 20 at County, (State) Notary Public 7

8 Promissory Note No. : Amount : $ Amount (words): Dollars Currency : U.S. Dollars (USD) Date of Issue : 20 Maturity Date : At Time of Funding Beneficiary : U.I.G., LLC For the value received: ( Maker herein after) hereby commit irrevocably, without protest or notification, to pay to the said beneficiary, its successor or assigns, against this note the sum of $ (in words Dollars) in lawful currency of UNITED STATES, upon presentation at the counter of (Name of Bank doing the confirmation below) ( herein after). Payment will be made without set -off, free and clear of any charges whatsoever. With this guarantee with herein below aval by,esq. Maker assures payment at the above-said maturity date and payment shall be made to the beneficiary named hereinabove or its successor or assigns, within one (1) international banking day of herein maturity date, unless renewal of such guarantee has been agreed to, in writing, between the undersigned Maker and the beneficiary, not less than ten (10) international banking days prior the maturity date hereof. This guarantee shall conform to the Uniform Customs and Practices latest revisio n to ICC Publication No. 500/600 as promulgated by INTERNATIONAL CHAMBER OF COMMERCE Paris, France (ICC). CONFIRMATION AND ENDORSEMENT: On behalf of our client and for value received, We do hereby affirm unconditionally and irrevocably guarantee the terms and conditions of herein promissory, and assure payment of this instrument, at herein maturity date so specified, in the event of dishonor by as agreed. AUTHORISED SIGNATURE AUTHORISED SIGNATURE per: per: <bank officer 2> DIRECTOR & AUTHORISED SIGNATURE <title> & AUTHORISED SIGNATURE PIN/Code: PIN/Code BANK SEAL BANK SEAL Sworn before me this day of, 20 at County, (State) Notary Public 8