Step Four: This step involves, after submission of the completed application, the issuance by Trust Management Services Inc., of a TERM SHEET outlining the format under which we are prepared to provide the loan for the project. This TERM SHEET provides most items for acceptance outlining terms and conditions and the follow through step by step time lines to see funding come forward successfully. Administrative services that follow usually include: organizing with client the format of presentation to structure the project funding, assistance and preparation of all appropriate documentation, collateral participation confirmation and verification of those collateral arrangements for monetizing of assets, and other initial due diligence items in order for application final initiation and approval.
Step Five: Initial business communication takes place and discussion under mutual optimism is achieved for all to realize the continuation of a working relationship. Commitment fees are paid once the Term Sheet is finally negotiated, returned, signed back and notarized. The Commitment fees covering initial administrative costs are received by Trust Management Services Inc. Once the commitment is in place between the parties involved, collateral arranged, finalized and acceptedas outlined in the provided Term Sheet, then all begins to move forward to format and organize all documentation for the project funding.
Step Six: Acceptance or rejection of the application made, and reasons, if the decision was negative, is given and addressed for the possibility of future acceptance to be granted. Acceptance results in an invitation to further finalize and discuss the project funding structure and continuance of procedures. Each application is evaluated on its own merit and particular circumstances for each client with their project, are granted consideration in outlining the tenure of the agenda for the resulting meetings. These meetings outline the project list, funding and a potential contractual structure designed for further discussions.
Rejection is possible when the collateral presented is not traceable as to origin and/or they carry a suspicious history that is not acceptable. Other reasons of rejection could be the activity background of the individuals behind the application, their corporate directors or other involved persons. In most cases due diligence relates information that causes the decision for rejection, but our screening and initial due diligence under administrative undertakings usually prevents a rejection from occurring.