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What Is A Collateral Transfer Agreement

A collateral transfer agreement can last one year or up to seven years. If the beneficiary has entered into a one-year contract and decides that he must renew the contract for a second year, it is imperative that he inform IntaCapital Swiss as soon as possible, but no later than one month before its expiry, since he must obtain the agreements of the supplier and the lender. The company cedes to the purchaser all rights, securities and interests of the company under the additional guarantee transfer contract for the additional collateral of the transferred mortgage. By „leaseback” of bank guarantees – collateral transfer A flexible means of financing in which a borrower has only reduced or limited guarantees to open new loans or extend existing credit or credit facilities. Collateral transfer allows the borrower to effectively „import” assets (assets) into his temporary property and use the same guarantee for loans and credits, or for improvements or other purposes. The wording of the debt bank guarantee in accordance with THE ICC`s uniform demand guarantee rules (URDG 760) is not affected by the Collateral Transfer Agreement, so the recipient is free to use the guarantees for his or her own purposes. It is customary for the beneficiary to use the bank guarantee as collateral for a loan or line of credit called „credit guarantee facilities” (see more information). Once due diligence is approved by both banks, the supplier will order the issuing bank to transfer a bank guarantee to the receiving bank via the SWIFT system in order to obtain credit from the recipient`s account. The SWIFT system is used by banks and financial institutions around the world and is a secure international financial messaging system that authenticates any message sent to all member banks and received by all member banks. Both the supplier and the recipient must ensure that their banks are members of the „World Interbank Telecommunications Corporation” when they wish to enter into a collateral transfer agreement. The SWIFT system has special messages allowing banks to exchange financial data, provide payments and provide bank guarantees, and in the case of bank guarantees, the issuing bank will recommend the introduction of a bank guarantee using a SWIFT message.

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