Post by nebula on Aug 27, 2020 21:07:53 GMT
Was reading through the docs. Included links and excerpts for our records.
Investor key information (2020-08-27)
Full text
RateSetter Wind-down Plans (2020-08-27)
Full text
Understanding your investment (2017 document!)
I couldn't find "Run-off Plan". The one I found was was back from 2017 (got it from Wayback Machine)
Full text
Investor key information (2020-08-27)
Full text
So, in the unlikely event of RateSetter triggering a winddown of the business, your loan contract(s) will continue to be administered on your behalf [see below]
If RateSetter were to enter administration, an administrator would take over the running of the platform and your loancontract(s) would continue to exist.
If RateSetter were to enter administration, an administrator would take over the running of the platform and your loancontract(s) would continue to exist.
RateSetter Wind-down Plans (2020-08-27)
Full text
...we have decided that in these circumstances the WDP would be managed in-house by existing staff...
In practice this would mean that we would stop accepting new funds at the start of the WDP, and no new loans would be written from that point. The loan portfolio would operate as normal with loans continuing to repay interest and capital, and investors would be able to withdraw funds once these funds become available. The Provision Fund would continue to operate as now.
In order to ensure that all investors can receive their capital and interest fairly it may be necessary for RateSetter to cease requests to sell-out of live loans – potentially for a short-period but possiblyfor the whole of the WDP. Excess sell-out requests can stop the market working optimally. All investors would still receive interest and capital payments and would be able to withdraw cash held in their holding account.
In practice this would mean that we would stop accepting new funds at the start of the WDP, and no new loans would be written from that point. The loan portfolio would operate as normal with loans continuing to repay interest and capital, and investors would be able to withdraw funds once these funds become available. The Provision Fund would continue to operate as now.
In order to ensure that all investors can receive their capital and interest fairly it may be necessary for RateSetter to cease requests to sell-out of live loans – potentially for a short-period but possiblyfor the whole of the WDP. Excess sell-out requests can stop the market working optimally. All investors would still receive interest and capital payments and would be able to withdraw cash held in their holding account.
Understanding your investment (2017 document!)
I couldn't find "Run-off Plan". The one I found was was back from 2017 (got it from Wayback Machine)
Full text
Run off plan–what happens if RateSetter stops trading
RateSetter maintains a fully funded plan that is designed to allow the company to continue to administer all existing loan contracts even if the Exchange closes to new business. So, in the unlikely event of RateSetter ceasing to trade, your loan contract(s) will continue to be administered on your behalf
RateSetter maintains a fully funded plan that is designed to allow the company to continue to administer all existing loan contracts even if the Exchange closes to new business. So, in the unlikely event of RateSetter ceasing to trade, your loan contract(s) will continue to be administered on your behalf