We have the ability to contract for the issuance of bank guarantees to be issued by globally recognized banks.  These instruments are strong due to the fact that they are issued in the name of our client as beneficiary and are fully lienable, callable, transferable and assignable which allow them to be used as primary collateral for a credit facility and/or transaction.  An additional benefit of working with Proof of Funds, LLC is transparency. Your transaction or project's detailed financial valuation has to be underwritten, the debt service coverage ratio should be within the industry average at loan terms including bank instrument banking charges.  Once approved then your bank will be involved in discussions with the underwriters and the issuing bank. 

We employ a Switzerland-based security firm who has undertaken the underwriting and due diligence on you and your transaction so we can secure the assets to back the issuance and delivery of the bank instrument.  A meeting between you, Robert and underwriter will be required at underwriter's office with their banker as reasonably required.  A letter of reference from the issuing bank will be issued to you.  You are assured to be 100% comfortable and confident with the underwriter as after validating their relationship with the Issuing Bank.

As part of the transparency, your financial advisor and legal counsel will be involved. Since all bankers are involved from the beginning and all communications are disclosed, you will have a high level of comfort and confidence with all of the arrangements.  To satisfy you regarding the credibility of the underwriting company, the issuing bank is obligated to write letters of reference to you to confirm that the bank has working relationship with the underwriting company.  Those letters are duly signed by Executive Director Associate Director of the issuing

We also obligate the Switzerland-based underwriting firm to disclose all of their communications with the as well as the background of assets being pledged to the issuing bank as collateral to back up the issuance of the bank instruments. In addition, the borrowers' lending banks are allowed to communicate with the board of directors of the issuing bank. Further, the issuing bank is obligated to issue a legally binding bank commitment letter for the issuance and delivery of the instruments as collateral for the loans to the borrower before the instrument is pre-advised by SWIFT MT799 and followed by SWIFT MT760 (bank instrument specimen attached).

In order to proceed we must submit the transaction documentation to the underwriter for review; Errika has requested the following information from me for processing.  Please provide me with the most recent and updated information as described below for the transaction.  Please provide me with the following information and any additional information which may help to demonstrate the strength in your transaction.  Pricing will be provided after analysis of the transaction and is determined by the risk in the transaction.

Client Documentation Checklist

A.    Transaction Information

£  Detailed business plan;

£  Completed POF application (blank application attached);

£  Financial Plan;

£  Feasibility Study;

£  Financial Evaluation;

£  Term sheet from your bank;

£  Land valuations (if applicable);

£  Conditional Loan Agreement or preliminary loan agreement or whatever legal binding commitment between the lender and the borrower and to indicate the terms and conditions of the loan because their terms and conditions will affect the feasibility of the project;

£  Documentation to show debt service coverage ratio (DSCR) on the loans and bank guarantee facility;

£  The proposed exit strategy;

£  Attorney escrow confirmation of 2% in escrow bank, or with escrow firm, agent or attorney.

B.     Company/Borrower Information

£  Articles of organization, or incorporation;

£  Business Licenses;

£  Company Bylaws

£  Permits;

£  Audited & Non-Audited Financials;

£  Other:____________________________;

£  Other:____________________________.

Please provide Errika Gordon with all of the documents as well the attached checklist. Once the information had been received, Errika will confirm her receipt.  I will update you on the status of the review, once the review has been successfully completed, we will move to the next step, negotiating agreements.  Our primary interest is to look at your project's detailed financial valuation.  Should the debt service coverage ratio be within the industry average at loan terms including bank instrument charges, we can then talk further.  We have to be able to determine that the project is financially creditworthy.

Please contact me with questions.

Dane G. Brigadier

President

Proof of Funds, LLC

3407 Lake Pointe Cove

Memphis, TN 38125