Closing Bank Function
The Bank has a long tradition in acting as closing-bank in international trading of debts, receivables and forfeiting-transactions for primary arrangers and borrowers.
When a transaction is introduced to the Bank, and based on a satisfactory due-diligence on the underlying asset and the parties involved, the Bank purchases and/or sells the underlying debt, receivable or asset upon signing an assignment agreement.
When acting in Forfeiting Transactions, the Bank will purchase Promissory Notes from the Seller (or from the Issuer) accompanied with an Aval (guarantee) from his housebank and will sell it to the final Investor.
For some of the parties involved, we act as well as Escrow Agent, in order to protect the ownership of the Seller, until all conditions are met, and the transaction can be concluded.
For further information please contact us.