Secured Finance and Guarantees in the International context

CBLP – OCT 2022 – L4 – Q5 – Letter of Comfort vs Indemnity and Asset Security Factors

Distinguish letter of comfort from indemnity and describe factors for taking assets as security.

Question

a) Distinguish between a letter of comfort and an indemnity. [10 marks]

b) Describe the factors a bank must consider when taking an asset as a security. [10 marks]

[Total marks:20]

Answer

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Tags: Asset Security, Factors, Guarantees, Indemnity, Letter of Comfort
Level: Level 4

Topic: Secured Finance and Guarantees in the International context
Series: OCT 2022

CORPORATE BANKING LAW AND PRACTICE – APRIL 2024 – LEVEL 4 – Q1 – Realization of Collateral without Court Order and Distribution of Proceeds

Outline the steps for a lender to realize collateral without a court order using BOG Notice and Act 1052, and explain the distribution of sale proceeds under Section 70(1).

Question

a. Rule 15 of BOG Notice No. BG/GOV/SEC/2021/07 introduced by the Bank of Ghana pursuant to Section 77 of the Borrowers and Lenders Act, 2020 (Act 1052) for the effective implementation of the Act, provides for the realization of collateral by a lender without a court order upon a borrower’s default. Using the BOG Notice and Section 62(1) of Act 1052, outline the steps a lender must take to realize collateral without a Court Order. (20 Marks)

b. Section 70(1) of the Borrowers and Lenders Act, 2020 (Act 1052) provides for the distribution of proceeds of the sale of collateral by a lender. Outline how the sales proceeds are distributed when the collateral is realized. (10 Marks) [Total = 30 Marks]

Answer

Find Related Questions by Tags, levels, etc.

Topic: Secured Finance and Guarantees in the International context
Series: APR 2024

CBLP – OCT 2022 – L4 – Q5 – Letter of Comfort vs Indemnity and Asset Security Factors

Distinguish letter of comfort from indemnity and describe factors for taking assets as security.

Question

a) Distinguish between a letter of comfort and an indemnity. [10 marks]

b) Describe the factors a bank must consider when taking an asset as a security. [10 marks]

[Total marks:20]

Answer

Find Related Questions by Tags, levels, etc.

Tags: Asset Security, Factors, Guarantees, Indemnity, Letter of Comfort
Level: Level 4

Topic: Secured Finance and Guarantees in the International context
Series: OCT 2022

CORPORATE BANKING LAW AND PRACTICE – APRIL 2024 – LEVEL 4 – Q1 – Realization of Collateral without Court Order and Distribution of Proceeds

Outline the steps for a lender to realize collateral without a court order using BOG Notice and Act 1052, and explain the distribution of sale proceeds under Section 70(1).

Question

Answer

Find Related Questions by Tags, levels, etc.

Topic: Secured Finance and Guarantees in the International context
Series: APR 2024

Topic: Secured Finance and Guarantees in the International context

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CBLP – OCT 2022 – L4 – Q5 – Letter of Comfort vs Indemnity and Asset Security Factors

Distinguish letter of comfort from indemnity and describe factors for taking assets as security.

CORPORATE BANKING LAW AND PRACTICE – APRIL 2024 – LEVEL 4 – Q1 – Realization of Collateral without Court Order and Distribution of Proceeds

Outline the steps for a lender to realize collateral without a court order using BOG Notice and Act 1052, and explain the distribution of sale proceeds under Section 70(1).

CBLP – OCT 2022 – L4 – Q5 – Letter of Comfort vs Indemnity and Asset Security Factors

Distinguish letter of comfort from indemnity and describe factors for taking assets as security.

CORPORATE BANKING LAW AND PRACTICE – APRIL 2024 – LEVEL 4 – Q1 – Realization of Collateral without Court Order and Distribution of Proceeds

Outline the steps for a lender to realize collateral without a court order using BOG Notice and Act 1052, and explain the distribution of sale proceeds under Section 70(1).

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CBLP – OCT 2022 – L4 – Q5 – Letter of Comfort vs Indemnity and Asset Security Factors

Distinguish letter of comfort from indemnity and describe factors for taking assets as security.

You're reporting an error for "CBLP – OCT 2022 – L4 – Q5 – Letter of Comfort vs Indemnity and Asset Security Factors"

CORPORATE BANKING LAW AND PRACTICE – APRIL 2024 – LEVEL 4 – Q1 – Realization of Collateral without Court Order and Distribution of Proceeds

Outline the steps for a lender to realize collateral without a court order using BOG Notice and Act 1052, and explain the distribution of sale proceeds under Section 70(1).

You're reporting an error for "CORPORATE BANKING LAW AND PRACTICE – APRIL 2024 – LEVEL 4 – Q1 – Realization of Collateral without Court Order and Distribution of Proceeds"

CBLP – OCT 2022 – L4 – Q5 – Letter of Comfort vs Indemnity and Asset Security Factors

Distinguish letter of comfort from indemnity and describe factors for taking assets as security.

You're reporting an error for "CBLP – OCT 2022 – L4 – Q5 – Letter of Comfort vs Indemnity and Asset Security Factors"

CORPORATE BANKING LAW AND PRACTICE – APRIL 2024 – LEVEL 4 – Q1 – Realization of Collateral without Court Order and Distribution of Proceeds

Outline the steps for a lender to realize collateral without a court order using BOG Notice and Act 1052, and explain the distribution of sale proceeds under Section 70(1).

You're reporting an error for "CORPORATE BANKING LAW AND PRACTICE – APRIL 2024 – LEVEL 4 – Q1 – Realization of Collateral without Court Order and Distribution of Proceeds"

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