Nothing can be resolved unless it is defined — therefore certain terms used in and throughout this website shall have the meanings and definitions set forth herein. Also see definitions placed within the documents; If there is any conflict between the definitions contained herein and the Commitment, the mutually accepted undertaking shall take precedence; unless the context or use clearly indicates another or different meaning. Blue word = has definition herein, blue underlined = a link. · Symbols & Abbreviations = '&' means 'and' — '/' means 'or/alternate' — '±' means estimated — TBD means may be determined in future —
· 3rd party means someone who has no conflict of interest; e.g. = Escrow Agent and Expert.
· 3rd party services means upon ServiceBuyer request, ServiceSeller to assist at your cost, only after mutual clearing of your Proof of Exit and payment of Service Fee.
· Activation means the ‘Proof of Funding’ and this ‘Service Commitment’ shall only be subject to clearing after validation/verification of the Escrow issued ‘Proof of Deposit’ of the full Service Fee; or the Institution issued ‘Proof of Clearing’ that the full Service Fee will be/was paid at Settlement.
· Absolute — means definite or definite to occur at a certain time regardless of any event
· BankAgent means an agent of the Exit-Bank or a qualified institutional investor who is sponsoring the institution-managed transaction.
· Certain —means definite to occur at a certain time, but may not be specified and identified until the certain time.
· Clearing — see About Us.
· Costs mean the total money, time and resources associated with a purchase or activity.
o Also see Transaction Costs.
· Depository Acceptable means having all documents fully effective with DTCC.
· Default means failure at a certain time; to meet a financial obligation or to do something required by agreement.
· Direct means no 3rd party, straight or without interference · DTC means the 'Depository Trust Company' that acts as central depository for securities certificates and through which member firms can transfer securities electronically via computerized bookkeeping entries; and is depository effective with DTCC.
· Effective means having the required result
· Escrow means an Institution issued Instrument to perform certain instructions.
· Exchange means the SWIFT message / DTC-DTCC / Euroclear / FedWire / Clearstream change of Funds/Instruments for Funds/Instruments.
· Exchange Profit means a 'certain profit' of 1% ($100-Thousand minimum on 1st exchange then no minimum) realized/paid for each Funds/Instrument exchange/activity.
· Exit means to completely liquidate of the instrument, by the exchange of the instrument for the funds expended plus interest due/on-demand; plus any profit due and/or agreed at future times(s).
o Also see Transaction, Proof of Funding, Proof of Exit, riskless arbitrage,
· Expert means a 20-lawyers/accountants firm, and/or bank/brokerage, or as mutually agreed; and issues certain opinions/undertaking performs-conducts arbiter opinions/services.
o Also see Proof of Clearing.
· Fees means A charge for services.
o Also see Exchange Fee, Service Fee, Transaction Fee
· Funds means money or certain Institution supported Instruments.
· Interest means the amount charged by Lender for the use of the Funds and to enhance your Instrument market value. We use interest of (12%), which is based on our sources exit/takeout on-demand requirements; you have an option to make a takeout, which allows you to negotiate lower interest with your sources/benefit.
· Institution — see About Us.
· Instrument — see About Us.
· Market means a market which is widely accessible to all investors.
· Proof — see About Us.
· Securitise means to make a loan into a security effective which can be traded via DTC effective with DTCC (e.g. by issuing an IOU for a loan).
· Service Fee means a fee due or charged for each 28-day Service Period of the Proof of Funds and/or Proof of Funding (the valuable consideration); or upon your default, and for any increase in the Funds amount.
o Also see Default, Proof of Funding, see Application
· Settlement — means the exchange of Funds and Instruments and payment of any Fees-Costs-Interest due.
o Also see Proof of Clearing, clearing, exit
· Support — means to backup or making more certain and absolute the obligation.
· SWIFT means an interbank message and requires ‘before and after delivery’ clearing between institutions.
o Also see www.SWIFT.com
· Takeout means on-demand — Issuer to buy-back or Holder to sell or buy.
· Also see related definition cashout.
· Transaction means an exchange of funds & instruments that clearing between the institutions would guarantee a profit. One example is riskless arbitrage.
o Also see risk-free, riskless, Proof of Funding, Proof of Clearing
· Transaction Costs means accountable costs due to your transaction; e.g. Funds Instrument, 3rd Party Services, DTCC, etc. Such estimated costs to be transferred in advance or as agreed; and such 3rd party services will occur only after clearing of the ‘Proof of Exit’ and are subject to Transaction Fees.
· Transaction Fees means non-accountable fees paid in advance by Service Buyer to Service Seller for services to create the ‘MoU’, certain ‘Escrow’ and ‘Clearing’ documents, to pay certain third parties for clearing and a guarantor for an indemnification-reservation cost, and other services consistent with ‘Commitment’; as USAsset in its sole election and discretion deems appropriate.
o Also see Terms Closing Services for refund conditions.
· Transfer means to change ownership.
· Undertaking — see Instrument definition’.