stevio
Member of DD Central
Posts: 2,065
Likes: 894
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Post by stevio on Jun 28, 2016 11:46:43 GMT
Hi collateral Collateral RepCould you explain the Buy Back Agreement you have in simple terms please, I'm not understanding it? This loan is via a Buy Back Agreement (COLBB) whereby Collateral agrees to buy the goods from the client at a set price and gives the client the option to ‘buy back’ the goods within a set period of time, (in this case 6 months) at an agreed ‘buy back’ price. This is the original purchase price plus a buy back fee, which equates to a monthly interest rate. The 6 months interest payments (the Buy Back fee) have been deducted upfront from the loan, to ensure the LTV doesn’t increase during the lifetime of the loan.Also, what does this mean?: This item has been underwritten by two of our jewellery trade partners in the event of default by the borrower.Thanks!
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Post by Collateral Rep on Jun 28, 2016 15:46:13 GMT
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