Sentences with phrase «bond letter of credit»

Not exact matches

Immediate credit challenges include potential draws on liquidity associated with rating triggers embedded in the city's letters of credit (LOCs), standby bond purchase agreement (SBPA), lines of credit, direct bank loans, and swaps [Oops — banks can and should pull the plug].

In the ordinary course of business, HP may provide certain clients with subsidiary performance guarantees and / or financial performance guarantees, which may be backed by standby letters of credit or surety bonds.

Wells Fargo, as the private construction lender for the project, issued a $ 72 million letter of credit to enhance the tax - exempt bonds, and made an $ 8.3 million construction loan.

Neither the preliminary rating opinion letter nor the credit ratings should reflect the use of bond insurance or other credit enhancement that does not also secure the TIFIA credit instrument.

Print in all capital black letters such things as your holder number, all bond numbers you are cashing in, how much of each bond you plan to cash in, your contact information, and how you want to be paid (i.e. direct credit to a bank account).

In some cases, credit enhancements such as bond insurance or letters of credit back the securities to make them more attractive to investors.

A. Every credit services business, before it enters into a contract with a consumer, shall file and maintain with the Commissioner, in form and substance satisfactory to him, a bond with corporate surety from a company authorized to transact business in the Commonwealth, or a letter of credit from a bank insured by the Federal Deposit Insurance Corporation in an amount equal to 100 times the standard fee charged by the credit services business but in no event shall the bond or letter of credit required under this section be less than $ 5,000 or greater than $ 50,000.

The registration shall contain (i) the name and address of the credit services business, (ii) the name and address of the registered agent authorized to accept service of process on behalf of the credit services business, (iii) the name and address of any person who directly or indirectly owns or controls a ten percent or greater interest in the credit services business, and (iv) the name and address of the surety company that issued a bond pursuant to § 59.1 - 335.4 or the name and address of the bank that issued a letter of credit pursuant to § 59.1 - 335.4.

The name and address of the surety company which issued the bond, or the name and address of the bank which issued the letter of credit.

(1) A credit services organization, its salespersons, agents, and representatives, and independent contractors who sell or attempt to sell the services of a credit services organization may not do any of the following: (a) conduct any business regulated by this chapter without first: (i) securing a certificate of registration from the division; and (ii) unless exempted under Section 13 -21-4, posting a bond, letter of credit, or certificate of deposit with the division in the amount of $ 100,000; (b) make a false statement, or fail to state a material fact, in connection with an application for registration with the division; (c) charge or receive any money or other valuable consideration prior to full and complete performance of the services the credit services organization has agreed to perform for the buyer; (d) dispute or challenge, or assist a person in disputing or challenging an entry in a credit report prepared by a consumer reporting agency without a factual basis for believing and obtaining a written statement for each entry from the person stating that that person believes that the entry contains a material error or omission, outdated information, inaccurate information, or unverifiable information; (e) charge or receive any money or other valuable consideration solely for referral of the buyer to a retail seller who will or may extend credit to the buyer, if the credit that is or will be extended to the buyer is upon substantially the same terms as those available to the general public; (f) make, or counsel or advise any buyer to make, any statement that is untrue or misleading and that is known, or that by the exercise of reasonable care should be known, to be untrue or misleading, to a credit reporting agency or to any person who has extended credit to a buyer or to whom a buyer is applying for an extension of credit, with respect to a buyer's creditworthiness, credit standing, or credit capacity; (g) make or use any untrue or misleading representations in the offer or sale of the services of a credit services organization or engage, directly or indirectly, in any act, practice, or course of business that operates or would operate as fraud or deception upon any person in connection with the offer or sale of the services of a credit services organization; and (h) transact any business as a credit services organization, as defined in Section 13 -21-2, without first having registered with the division by paying an annual fee set pursuant to Section 63J -1-504 and filing proof that it has obtained a bond or letter of credit as required by Subsection (2).

(2)(a) A bond, letter of credit from a Utah depository, or certificate of deposit posted with the division shall be used to cover the losses of any person arising from a violation of this chapter by the posting credit services organization.

(b) A bond, letter of credit, or certificate of deposit shall remain in force: (i) until replaced by a bond, letter of credit, or certificate of deposit of identical or superior coverage; or (ii) for one year after the credit servicing organization notifies the division in writing that it has ceased all activities regulated by this chapter.

EDC offers funding, credit insurance, bonds and letters of guarantee for Canadian exporters, as well as expert advice on foreign markets.

Any person claiming against the bond or letter of credit for a violation of this Act may maintain an action at law against the credit services business and against the surety or bank.

A statement asserting the buyer's right to proceed against the bond or letter of credit required under § 59.1 - 335.4; and

(1) If a credit services organization has obtained a bond, letter of credit, or certificate of deposit as set forth in Subsection 13 -21-3 (1) a salesperson, agent, or representative who sells the services of that organization is not required to post his own separate bond, letter of credit, or certificate of deposit.

The aggregate liability of the surety or bank to all persons damaged by a credit services business violation of this chapter shall in no event exceed the amount of the bond or letter of credit.

A bond, letter of credit, or certificate of deposit may also be used to satisfy administrative fines and civil damages arising from any enforcement action against the posting credit service organization.

Bond rating firms, such as Standard & Poor's and Moody's, use different designations consisting of upper - and lower - case letters «A» and «B» to identify a bond's credit quality ratBond rating firms, such as Standard & Poor's and Moody's, use different designations consisting of upper - and lower - case letters «A» and «B» to identify a bond's credit quality ratbond's credit quality rating.

In addition, unsupervised correspondent lenders (as opposed to brokers) must provide business and personal credit reports, audited financial statements, quality control plans, sanctions letters and funding programs, and finally post a fidelity bond of at least $ 300,000 and carry at least $ 300,000 of errors and omissions insurance.

A person that is damaged by a credit services organization's violation of this chapter may: (1) bring an action to recover the greater of two (2) times the amount of actual damages or one thousand dollars ($ 1,000) and attorney's fees; and (2) bring an action against the bond or irrevocable letter of credit required under section 8 of this chapter to recover an amount equal to the person's actual damages.

The following are deceptive acts: (1) To charge or receive money or other valuable consideration before the complete performance of services that a credit services organization has agreed to perform for or on behalf of a consumer, unless the credit services organization has under section 8 of this chapter: (A) obtained a surety bond issued by a surety company admitted to do business in Indiana; or (B) established an irrevocable letter of credit.

Thus, financial institutions and banks issuing letters of credit compete directly with MBIA Corp. to guarantee short - term notes and bonds with a maturity of less than 10 years.

If the QDOT holds assets in excess of $ 2 million, one of the trustees will need to be a U.S. bank, or, if an individual or corporation, the trustee will have to post a bond or a letter of credit equivalent to 65 % of the value of the assets held in the QDOT.

Cayman Islands criminal sanction), bills of exchange, guarantees and letters of credit: IIG Capital LLC v Van Der Merwe [2008] EWCA Civ 542 (characterisation of bonds and guarantees).

He has extensive experience representing lenders, businesses, and real estate entities in a wide range of transactional and business matters including commercial and asset - based lending, floor plan lending for the automobile industry, real estate financing, project and construction financing, bond financing, letters of credit, and loans for Employee Stock Ownership Plans (ESOPs).

David Joseph has acted as Sole or Junior Counsel in a number of complex fraud actions involving inter alia complex interlocutory relief, recovery of stolen property, resolution of disputes between shareholders / partners, allegations of fraud and deceit, breach of fiduciary duty and restraint of use of performance bonds and letters of credit.

Recent experience includes disputes alleging negligent fund management, negligent lending decisions, insurance backed assets, letters of credit, performance bonds.

He has also acted in a number of cases involving restraint of draw down under letters of credit (e.g. Group Josi v Walbrook — successfully enforcing draw down of letters of credit in face of alleged fraud of underwriting agents); enforcement of performance bonds and corporate and governmental guarantee (Marubeni v Mongolia).

Trade finance disputes involving letters of credit, performance bonds, guarantees and other documentary credits

We represent the interests of business borrowers in financial transactions including; acquisition financing, working capital loans, syndicated bank loans, public or private note / bond issues, leveraged recap transactions, asset based financing for working capital and acquisitions, and letter of credit transactions.

We advance and defend all types of construction proceedings in all areas of construction law including construction lien claims, damage, delay, scheduling and impact claims, construction trust claims, deficiency claims, claims on bonds and letters of credit, claims involving tendering and procurement and professional liability claims.

John has served as bond counsel, letter - of - credit counsel and underwriters» counsel in large government bond transactions and has represented borrowers in significant government finance transactions.

An employer who at any time has contravened a requirement concerning the payment of wages may be required by the Branch to post a bond, or to provide an irrevocable letter of credit or other security, to help ensure future compliance.

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