Getting credit bail machinery and equipment
Posted on Sep 4, 2000 08:15:27 AM
Loan against your equipment – it’s some kind of leasing equipment, machinery remains at your full disposal. Loans secured by equipment is a convenient, fast and reliable way to update the transport company with a minimal initial cost.
Type of collateral for each loan and each borrower is chosen by the bank when working with clients individually. You need to compile a list of available equipment, which must be reflected: the make and model, manufacturer, manufacturing date, place of use or storage (outdoor playground, room), and the cost of equipment at cost. Just want to specify that this material deals only with the pledge of equipment owned by individuals.
The security deposit is taken as the equipment mounted and nemontiruemoe. Outdated equipment in the deposit is not received or accepted at a very low assessed value. Basic requirements – equipment must be assembled and in working condition.
With a pledge of equipment to the bank shall be submitted:
Documents confirming the ownership of the collateral (for example, a contract with the specification of commodity-shipping documents);
documents confirming payment of the equipment (vouchers with a note about payment, invoices, bills of lading and customs);
documents proving the actual transfer of property to the pledgor (deed, etc.)
a document confirming payment of customs duty (for imports).
document the location of (the agreement), if the equipment is leased or stored in a foreign stock.
technical certificate and possibly your warranty card.
Before turning to the bank all the documentation on the collateral equipment necessary to make verification of the names of the same type of equipment in all documents. Because if the names on the list of equipment, technical certificate, payment instructions will be different, then you have to restructure documents. Because of what you will increase the time the loan.
You also need to know that keeping collateral, banks require security systems and equipment of the room in which there is equipment, fire safety and availability of fire-alarm systems.
The sum of all items (with the pledge of equipment) offered as collateral for loans to individuals, exceed the amount of the loan with interest at the appraised value of the bank. As banks, determining the liquidity value of the collateral, enjoys a reduction factor, the equipment with long life offer is not desirable.
Before you make a final decision on the petition to the bank for a loan secured by equipment, I recommend you consider other options for and familiarize yourself with collateral requirements in several banks. Collateral requirements may be more forgiving.
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