Guarantee Bond – Now Wash Your Hands http://nowwashyourhands.com/ Fri, 22 Oct 2021 09:39:45 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://nowwashyourhands.com/wp-content/uploads/2021/07/icon-4.png Guarantee Bond – Now Wash Your Hands http://nowwashyourhands.com/ 32 32 China Evergrande makes payment for Dodge Default, media say https://nowwashyourhands.com/china-evergrande-makes-payment-for-dodge-default-media-say/ https://nowwashyourhands.com/china-evergrande-makes-payment-for-dodge-default-media-say/#respond Fri, 22 Oct 2021 03:18:05 +0000 https://nowwashyourhands.com/china-evergrande-makes-payment-for-dodge-default-media-say/ HONG KONG – China Evergrande, the struggling real estate giant on the brink of collapse, appears to have gained a little more time. The world’s most indebted real estate developer on Friday paid bondholders $ 83.5 million in interest, according to the Securities Times, an official gazette. The outlet, which is supported by the People’s […]]]>

HONG KONG – China Evergrande, the struggling real estate giant on the brink of collapse, appears to have gained a little more time.

The world’s most indebted real estate developer on Friday paid bondholders $ 83.5 million in interest, according to the Securities Times, an official gazette. The outlet, which is supported by the People’s Daily, the official newspaper of the Communist Party, did not provide further details.

Payment came with just one day remaining over a 30 day grace period to avoid default. The company took hold of global financial markets a month ago when it skipped a payment to foreign bondholders, suggesting it could leave global investors with billions of dollars in losses and cause losses. ripples in the Chinese real estate market, a key part of the country’s economic growth engine. .

Evergrande did not respond to a request for comment. Lawyers representing the bondholders declined to comment.

Burdened with more than $ 300 billion in debt, the real estate developer has attempted to sell off parts of his vast empire in order to raise enough cash to pay off the creditors circling around.

This week, one of those deals – widely seen as a lifeline of last resort – collapsed. The deal would have enabled Evergrande to raise some $ 2.6 billion in exchange for a stake in its real estate services company, providing much-needed liquidity to begin dealing with a long line of creditors seeking their money back.

After reporting the failure of the deal, Evergrande warned that “given the difficulties, challenges and uncertainties” he faced, he could not guarantee that he would “be able to meet his financial obligations”.

Evergrande shares rose more than 4% on the Hong Kong stock market on Friday, a day after falling more than 12% as the market digested news of a failed bid. Some of its bonds were trading at less than 25 cents to the dollar.

Until Friday’s Securities Times report, many market watchers were betting Evergrande would miss the bond’s payment, effectively triggering a default.

The Evergrande financial crisis is testing the resolve of Chinese officials who were quick to step in to save struggling giants like Evergrande. They are committed to cleaning up China Inc.’s mountain of debt and ending the real estate industry’s excessive borrowing habits.

“Anything that looks like ‘saving Evergrande’ risks creating moral hazard that runs counter to the anti-leverage campaign,” said Arthur Kroeber, head of research at economic research firm Gavekal Dragonomics.

The country’s corporate sector has $ 27 trillion in debt, more than any other country in the world, according to the Institute of International Finance. By comparison, this is the total amount of debt held by the United States government.

Yet if authorities let Evergrande fail, they could harm some of the more than one million Chinese buyers who have bought apartments from the company and are waiting for them to be built and delivered. A collapse could also hit construction workers and contractors waiting to be paid.

Beyond the company itself, authorities risk cooling the Chinese real estate market and beyond, shaking household confidence to buy everything from appliances to cars.

While Evergrande has struggled to sell its properties, many homebuyers across the country have been dissuaded from buying a property. Evergrande reported this week that its own sales of new apartments fell 97% in September and part of October from a year earlier, a period which is typically the peak selling season for Chinese property developers.

Across China, new home prices fell for the first time in more than six years in September from the previous month, according to data from China’s National Bureau of Statistics. Evergrande’s financial woes have already spread to other developers, three of whom have defaulted on their own debt in recent days.

While Evergrande appeared to appease some investors and narrowly avoid a default on a Friday bond payment, it will need to find more money to meet deadlines for other debt payments in the days and weeks to come.

“China Evergrande needs access to finance for its business to function,” said Daniel Anderson, a Hong Kong-based partner at Ropes & Gray law firm. If the business cannot find the money to make future payments, it is always at risk of default.

“A default would give holders of these defaulting bonds the right to accelerate,” said Mr. Anderson, “which could trigger defaults on other bonds and indebtedness.”


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Evergrande Shares in China Dip Drastically After $ 2.6 Billion Asset Sale Fail | Evergrande https://nowwashyourhands.com/evergrande-shares-in-china-dip-drastically-after-2-6-billion-asset-sale-fail-evergrande/ https://nowwashyourhands.com/evergrande-shares-in-china-dip-drastically-after-2-6-billion-asset-sale-fail-evergrande/#respond Thu, 21 Oct 2021 02:50:00 +0000 https://nowwashyourhands.com/evergrande-shares-in-china-dip-drastically-after-2-6-billion-asset-sale-fail-evergrande/ Shares of struggling real estate giant China Evergrande fell sharply after plans to sell a stake in one of its units for $ 2.6 billion failed, casting further doubt on its ability to avoid the most major corporate bankruptcy in the country. On Thursday morning, China Evergrande Group, the parent company of the sprawling empire […]]]>

Shares of struggling real estate giant China Evergrande fell sharply after plans to sell a stake in one of its units for $ 2.6 billion failed, casting further doubt on its ability to avoid the most major corporate bankruptcy in the country.

On Thursday morning, China Evergrande Group, the parent company of the sprawling empire built by former steel industry leader Xu Jiayin, was down 12% in early trade before rebounding slightly to -9.8% . Evergrande Property Services, one of its most profitable units, fell 6.45%.

Evergrande announced on Wednesday that it had officially abandoned its plan to sell a 50.1% tranche of Evergrande Property Services, and said there was “no guarantee” that it could meet its financial obligations in order to to stay afloat.

The company, which is China’s second-largest real estate developer with thousands of projects, has debts of $ 305 billion.

But it is running out of liquidity thanks to a government crackdown on loans and a fall in house sales and prices, sending shock waves through the Chinese economy and global financial markets.

The company has been trying to offload assets since September to generate funds to pay off creditors, starting with 1.6 million homebuyers who bought as yet unfinished properties off plan, contractors and suppliers, then banks and Chinese bonds.

Evergrande also owes billions to offshore bondholders and has already missed several key bond interest payments since September. The company will officially default if it fails to shell out $ 83.5 million when a 30-day grace period for a repayment initially missed in September ends on Monday.

Creditors say Evergrande has not made contact about the repayments and is widely expected to default.

The admission on Wednesday that Evergrande had not sold a 50.1% stake in its Evergrande Property Services branch to smaller rival Hopson Development Holdings for $ 2.6 billion was a blow.

In a stock exchange filing Wednesday night, Evergrande said he had reason to believe Hopson had not met the “preconditions to make a blanket offer” for his unit, without further clarification.

Hopson said in a swap brief that he was ready to close the deal but received notice to terminate the transaction from Evergrande on October 13.

The shares of Evergrande, Evergrande Property Services and Hopson had all been suspended since October 4 pending the announcement of the transaction.

In a separate exchange brief on Wednesday, Evergrande said it had made no significant progress in selling the other assets it has put on the block, except for the sale of a stake in worth $ 1.5 billion in Chinese lender Shengjing Bank.

Evergrande’s setback comes after Chinese state-owned Yuexiu Property pulled out of a proposed $ 1.7 billion deal to buy its Hong Kong headquarters last week.

The Evergrande revelations came after a number of senior Chinese officials sought to reassure homebuyers and markets that the current woes in the real estate industry could not turn into a full-scale crisis.

Fears that a lack of liquidity at Evergrande, whose liabilities are equivalent to 2% of China’s gross domestic product, could cause economic contagion, have seen many other heavily indebted developers see their credit ratings lowered, while some smaller ones have already failed.

In comments reported by state media Xinhua and echoing comments by the country’s central bank late last week, Vice Premier Liu He said at a forum in Beijing on Wednesday that the risks were controllable and that the demand for reasonable capital from real estate companies was met.

The chairman of the Chinese securities regulator, Yi Huiman, added at the same forum that the authorities would properly manage default risks and seek to reduce excessive debt more widely.

“[We need] to improve the efficiency of the constraint mechanism on debt financing, to avoid excessive financing by “high leverage,” “said Yi.

Chinese real estate developers have a total portfolio of 33.5 billion yuan ($ 5.24 billion), according to Nomura, or about a third of the country’s gross domestic product.

Evergrande, who epitomized China’s freewheeling borrowing and construction era, has struggled to raise funds to pay off its many lenders and suppliers, as it is expected to or on the verge of defaulting on one of its international obligations.

In its Wednesday filing, Evergrande said it would continue to implement measures “to alleviate liquidity problems” and do its best to negotiate the renewal or extension of its loans with its creditors.

“Given the difficulties, challenges and uncertainties associated with improving its liquidity, there can be no guarantee that the group will be able to meet its financial obligations under the financing documents and other contracts concerned,” he added. he declares.


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Do you think rebuilding better is expensive? Wait until you hear the US defense budget. https://nowwashyourhands.com/do-you-think-rebuilding-better-is-expensive-wait-until-you-hear-the-us-defense-budget/ https://nowwashyourhands.com/do-you-think-rebuilding-better-is-expensive-wait-until-you-hear-the-us-defense-budget/#respond Mon, 18 Oct 2021 17:24:00 +0000 https://nowwashyourhands.com/do-you-think-rebuilding-better-is-expensive-wait-until-you-hear-the-us-defense-budget/ Last month, the House voted to pass a one-year defense policy to the tune of nearly $ 778 billion …more than double the annual cost of the Build Back Better plan. More than 300,000 women left the workforce last month – the second time in the pandemic that the start of a new school year […]]]>

Last month, the House voted to pass a one-year defense policy to the tune of nearly $ 778 billion …more than double the annual cost of the Build Back Better plan.

More than 300,000 women left the workforce last month – the second time in the pandemic that the start of a new school year and the loss of child care services have resulted in a significant drop in the number of women in the workforce. the work market. (Pxfuel / Creative Commons)

The most prominent argument on Capitol Hill these days concerns President Biden’s Build Back Better (BBB) ​​plan to fund a robust “care infrastructure”. If passed, the government will spend $ 3.5 trillion over the next decade on national programs, including creating a universal preschool, subsidizing child care, extending credit to Expanded children’s tax, subsidizing a free community college, providing 12 weeks of paid medical and family leave, helping low-wage workers in home care and closing the coverage gap. Medicaid insurance.

The main objection to BBB by Republicans and so-called “moderate” Democrats is the price tag – $ 3.5 trillion over 10 years. Broken down, it’s $ 350 billion a year. If that sounds like a lot of money it is, until you compare it to the boys and their toys.

Last month, the House voted 316-113 to pass a $ 777.9 billion defense policy bill for 2022 that would increase military salaries by 2.7% and fund 13 additional combat ships. That’s more than double the annual cost of the Build Better plan. And know this: The Pentagon asks (and gets) more money every year, while BBB is a fixed amount over 10 years.

It goes without saying that the BBB disproportionately benefits women, who left the workforce en masse during the COVID-19 pandemic because it disrupted school and childcare arrangements. The numbers are grim: Overall, the US economy created 194,000 new jobs in September, the second consecutive month of weak growth after a summer when we averaged about 1 million additional jobs per month. All of the September earnings went to the men – the women in fact lost 26,000 jobs.

Unemployment rates continue to be significantly higher for black women, at 7.3 percent, and Latinas, at 5.6 percent. The unemployment rate for white women is now 3.7%, almost the same as in March 2020, when it was 3.6%.

We don’t need the proverbial rocket scientist to tell us why women’s jobs are not recovering. The lack of child care and universal preschool is one of the main reasons, along with the lack of paid family leave, which means women have to quit their jobs when they call caregivers. The BBB would go a long way in solving this problem.


We don’t need a rocket scientist to tell us why women’s jobs aren’t picking up: a lack of child care and universal preschool, a lack of paid family leave. The Build Back Better Act would go a long way to solving this problem.


Within 10 years, Biden’s plan would guarantee workers 12 weeks of paid leave, which could be used “to bond with a new child, care for a critically ill loved one, cope with military deployment. ‘a loved one, to protect themselves from sexual assault, criminal harassment. , or domestic violence, to cure their own serious illness or take the time to cope with the death of a loved one, ”according to a plan released by the White House.

Considering only part of the plan, the national paid family and medical leave program would cost an estimated $ 225 billion over a decade. It would mainly be paid by raising taxes for the rich, like Jeff Bezos, Elon Musk Warren Buffett, George Soros and Michael Bloomberg, who pay no taxes in some years.

Another huge boost from BBB that would primarily benefit women is home care and early childhood care support. Home care and early childhood occupations together account for 2.2 percent of employment in the United States. The proposed investments would create jobs in these caregiving sectors so that ultimately occupations would account for nearly three percent of total employment. (In contrast, construction workers represent 0.66% of total employment.)

As might be expected, the early childhood and home care occupations are predominantly occupied by women. And an estimated 54 percent of home helpers are women of color, with black women making up more than half of women of color in these jobs. This is largely due to the long-standing occupational segregation in the United States and its history of discrimination based on gender and race.

rebuild-better-dear-reconciliation-bill-biden-women-workers-miltary-defense-budget-paid-conge-childcare
The military budget has grown by almost $ 100 billion a year since 2015 and there is no indication that it will slow down. (Creative Commons)

According to new analysis from the Service Employees International Union (SEIU) and the Center for American Progress. These would be paid jobs to live with the ability for workers to join a union, while expanding access to care for people with disabilities and aging adults. And it finally offers a path to citizenship for the 11 million undocumented immigrants who inhabit our nation.

All good stuff, but will we get it? Right now, the haggling on Capitol Hill centers on what could be cut, not how to fully fund the proposal. I’m all for exploiting tax evasion guys (and notice they are all guys), but maybe we should take a closer look at these toys for boys as well. Military budget increased by nearly $ 100 billion per year since 2015 and there is no indication that it will slow down.

Gee, as the country with the most expensive military in the world, could we consider making do with fewer ships, guns and bombs to boost America’s lowest paid workers? ie women?

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Refinance savings better than expected | News, Sports, Jobs https://nowwashyourhands.com/refinance-savings-better-than-expected-news-sports-jobs/ https://nowwashyourhands.com/refinance-savings-better-than-expected-news-sports-jobs/#respond Sat, 16 Oct 2021 04:39:46 +0000 https://nowwashyourhands.com/refinance-savings-better-than-expected-news-sports-jobs/ Altoona can save significantly more than expected last month by refinancing its existing qualifying debt, city council learned this week. Last month, the projected savings were $ 379,000, based on a better interest rate expected on $ 17 million borrowed in 2015, 2016 and 2019. Since then, a closer look has shown that last year’s […]]]>

Altoona can save significantly more than expected last month by refinancing its existing qualifying debt, city council learned this week.

Last month, the projected savings were $ 379,000, based on a better interest rate expected on $ 17 million borrowed in 2015, 2016 and 2019.

Since then, a closer look has shown that last year’s loans were also eligible, increasing the amount to be refinanced to $ 28 million, which could save around $ 560,000.

Refinancing is expected to save around 2% of the base amount, according to City Manager Omar Strohm.

“Whenever we can save taxpayer money, this is the goal” said City Councilor Dave Butterbaugh.

Concord Public Finance advised the city on the matter.

Refinancing could be done through a bank loan or a publicly announced bond, Eckert Seamans legal adviser Jens Damgaard said.

The city council introduced an ordinance for refinancing with empty spaces to accommodate, regardless of the loan option chosen by officials.

The Council also introduced orders pledging its financial resources to secure the repayment of a pair of Pennvest loans to the Altoona Water Authority.

A loan of $ 24.5 million would finance the renovation of the Bellwood dam and another of $ 11.12 million would allow the water treatment plant downstream of the dam to be renovated.

Loans are 20 years at 1%.

The total interest for the dam loan is $ 2.54 million.

The total interest on the factory loan is $ 1.15 million.

The authority actually needs more money to carry out the projects than what would be provided by these loans and asks for this additional money from Pennvest.

He needs more money as offers for both jobs have been higher than estimated, due to post-COVID labor and material shortages, pent-up demand from post-COVID contractors and lots of government funding available.

Mirror staff writer William Kibler is at 814-949-7038.

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Toni Rogers for Madison School Board, November 2021 – News-Herald https://nowwashyourhands.com/toni-rogers-for-madison-school-board-november-2021-news-herald/ https://nowwashyourhands.com/toni-rogers-for-madison-school-board-november-2021-news-herald/#respond Thu, 14 Oct 2021 20:05:01 +0000 https://nowwashyourhands.com/toni-rogers-for-madison-school-board-november-2021-news-herald/ Toni Rogers This information is published as provided by the candidate. Toni Rogers (Submitted) Political party: Democrat Wanted office: Madison School Board Age: 63 Place of birth: Cleveland, Ohio Home Address: n / A Duration of residence in this community: 50+ years Twitter?: n / A Facebook?: Madison 44057 without dibble Campaign website?: n / […]]]>

Toni Rogers

This information is published as provided by the candidate.

Toni Rogers (Submitted)

Political party: Democrat

Wanted office: Madison School Board

Age: 63

Place of birth: Cleveland, Ohio

Home Address: n / A

Duration of residence in this community: 50+ years

Twitter?: n / A

Facebook?: Madison 44057 without dibble

Campaign website?: n / A

Occupation: Paralegal

Employer: Contract

Elected office experience (must have appeared on a public ballot): No

Unelected office experiencee (advice, etc.): Madison School Community Finance Committee, Madison School Bond Issue Committee, Citizens for Smart Schools PAC Founding member

Education (List only schools you graduated from and indicate degrees, if applicable): Lake Erie College Bachelor of Science Lakeland Community College Associate in Applied Science Lakeland Community College Certificate Paralegal Studies Madison Local Schools

Marital status and name of spouse: n / A

Do you have children?: 2 adult children both graduates from local Madison schools

Organizations?: n / A

If elected, what three specific areas would you like to change, address, improve or research further, and how would you go about doing this specifically?: 1. Set up the Community Finance Committee relating to expenditure. Over the past 5 years, the school district has asked voters for a 12 million property tax increase. Points directly to a spending problem. Our revenue stream for 2021 is $ 37 million for 2,700 students. I believe there is a lot of money for our children to receive a quality education. Spend smarter and live within our means. Landowners are suffering from withdrawal fatigue. We don’t need to put additional financial pressures on our landowners, seniors, young landlords, or our tenants whose rents rise as property taxes rise. 2. No more paying for special elections at an average cost to the district of $ 21,000. It is not fiscal responsibility, it is outright waste. 3. Kindergarten all day. Late. Was promised to the community when we built the new schools. The funding is there and it must be made a priority.

Whether it’s for past accomplishments or future goals, why should voters elect you?: I have been taking care of school finances for over 30 years. The district at the time had just completed a beautiful stadium and declared itself bankrupt the following month. I lobbied for a school finance committee and from that committee many cost reduction programs were implemented. I was on the committee when we built the new schools. At the time, the board wanted to use all the funding available for the buildings from the tobacco regulation money. The problem was what we were spending on funding that we had to match. The first two bond issues failed because if they had passed they would have bankrupted the community. A compromise was reached and we now have modern clean and energy efficient schools. Why is this important? Yes, good schools are important to property values ​​BUT you can impose yourself in a rural plague situation. Rural blight is not good for property values. If I am chosen to serve this community in November, I will ensure transparency and fiscal accountability. As a founding member of Citizens for Smart Schools, our goal has always been to educate voters whenever the school district applies for funding. When the compromised bond issue was placed on the ballot, I campaigned for its passage. The opportunity was there to update energy efficient schools that would ultimately save us money due to energy costs. It was a win-win situation while also being logical about what our community could afford.


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KOICA Azerbaijan launches tender | MENAFN.COM https://nowwashyourhands.com/koica-azerbaijan-launches-tender-menafn-com/ https://nowwashyourhands.com/koica-azerbaijan-launches-tender-menafn-com/#respond Mon, 11 Oct 2021 05:04:29 +0000 https://nowwashyourhands.com/koica-azerbaijan-launches-tender-menafn-com/ (MENAFN- Trend press agency) The Azerbaijani office of the Korea International Cooperation Agency (KOICA) invites eligible bidders interested in an international tender to provide a “Tablet PC” for the “Teacher Capacity Building and Establishment Project” an education information system for the Ministry of Education of the Republic of Azerbaijan ”. The project is implemented with […]]]>

(MENAFN- Trend press agency)

The Azerbaijani office of the Korea International Cooperation Agency (KOICA) invites eligible bidders interested in an international tender to provide a “Tablet PC” for the “Teacher Capacity Building and Establishment Project” an education information system for the Ministry of Education of the Republic of Azerbaijan ”. The project is implemented with financial assistance from the Government of the Republic of Korea.

Description of the call for tenders

  • Title of the offer: Supply of equipment for the “Teacher Capacity Building and Education Information System Establishment Project for the Ministry of Education of the Republic of Azerbaijan.
  • Scope of work: Supply and after-sales service of equipment
  • Project location: Baku, Azerbaijan
  • Address: Təhsil Sisteminin İnformasiyalaşdırılması İdarəsi, AZ1106, Azərbaycan, Bakı, Nirimanov, Azadlıq prospekti 909
  • Employer: Korea International Cooperation Agency (KOICA) Azerbaijan Office
  • Procurement, inspection period: by November 30, 2021
  • Duration of the contract: 3 months from the date of the contract
  • Planned budget: 355,208 AZN (VAT excluded)
  • Financial proposal currency: AZN

Type of offer: General call for tenders

Tendering procedures and selection of the successful tenderer

  • Step 1: Submission of the letter of interest

Letter of Interest Form Distribution: Refer to the KOICA Azerbaijan Office website or contact the office

  • Step 2: Submission of tender documents and qualification assessment document
  • Step 3: Opening of offers
  • Step 4: Evaluate the qualification in the order of the lowest price above the lower limit of the offer
  • Step 5: Final decision on the winner
  • Criteria for the successful tenderer: the lowest tenderer who passed the qualifying evaluation after opening of the tender
  • The lowest bidder, who submits the lowest bid above the lower bound (84.25%) without exceeding the estimated price, and if he obtains the total point above 85 through the evaluation of purchase qualification of goods, will be the successful bidder.
  • The price proposal must be equal to or less than the “Estimated Price” and must be equal to or greater than the lower limit (84.25%). Any offer that does not respect the above limitation may result in the rejection of its offer.

Qualifications of tenderers

  • To qualify to participate in this call for tenders, bidders must meet all of the following minimum criteria:
  • After submitting the qualification documents to the KOICA office in Azerbaijan;
  • Operate in the territory of Azerbaijan for more than three (3) years and not be prohibited from participating in the purchase of goods by the Azerbaijani government;
  • A business that has no problem with paying tax or other financial obligation;
  • Joint venture is NOT allowed.

Language to use for auctions : English

Submission schedule

No.

Activities

Calendar

Place/

Remarks

1

Tender Announcement

October 11, 2021

KOICA Office in Azerbaijan

2

Question period

11-13 Oct 2021

Only by e-mail

3

Answers to questions

October 15, 2021

Only by e-mail

4

Submission of the letter of interest

3:00 p.m., October 18, 2021

KOICA Office in Azerbaijan

5

Submission of

tender documents and qualification assessment document

(Including a bid bond)

3:00 p.m., October 27, 2021

KOICA Office in Azerbaijan

6

Opening of offers

16:00, October 27, 2021

KOICA Office in Azerbaijan

7

Qualification evaluation in order of lowest bidder

28-29 Oct 2021

KOICA Office in Azerbaijan

8

Selection of the successful tenderer

3:00 PM, Nov 1, 2021

By email

Documents for the submission of the letter of interest

Expression of interest form ( Letter of Interest Form Distribution: Refer to the KOICA Azerbaijan Office website or contact the office )

Contact details

Payment will be as follows: 100% payment after contract completion. The monetary unit of the contract is the AZN. Guarantee: 1 year (need a guarantee deposit of 3% of the contract amount). KOICA may request that the equipment be changed if it does not meet the required specifications, until the same or better quality is obtained.

  • KOICA Azerbaijan Office Website
  • The tenderer is required to review all instructions, forms, conditions and specifications in the tender documents. Failure to provide all information required by the tender dossier or the submission of a tender which does not substantially meet the tender dossier in all respects will be at the risk of the tenderer and may result in rejection. of the offer.
  • Detailed information of the offer: The applicant can visit and find the information on the following websites;
    • KOICA Office in Azerbaijan Facebook

Others

  • Manufacturer’s Authorization Letter: The bidder who does not manufacture to perform the contract, must include with his bid, the manufacturer’s authorization letter.
  • Proof of completion of previous contracts (Within the last 5 years)
  • Proof of the official certificate on the list of goods and equipment delivered.
  • Documents for the assessment of qualifications (with notarized English translation if in Azerbaijani)
  • A tender bond (bank guarantee or security insurance) of five percent (5%) of the amount of the tender (355 208AZN, the duration of the guarantee is greater than 30 days after the deadline for submission of documents of call for tenders and the price of the offer)
  • Expression of interest
  • Attach a power of attorney to sign the offer documents, with notarization, identity document and proof of employment. Applicable in the event of absence of Representatives.
  • Submission form
  • Bidder’s Company Profile, Company Representative ID
  • Business registration certificate
  • x Clearance certificate
  • Price proposal: price proposed by the participant, including the bill of quantities for the goods purchased (sealed document)

MENAFN11102021000187011040ID1102949169

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AM Best affirms the credit ratings of the Construction Guarantee Cooperative https://nowwashyourhands.com/am-best-affirms-the-credit-ratings-of-the-construction-guarantee-cooperative/ https://nowwashyourhands.com/am-best-affirms-the-credit-ratings-of-the-construction-guarantee-cooperative/#respond Thu, 07 Oct 2021 13:54:00 +0000 https://nowwashyourhands.com/am-best-affirms-the-credit-ratings-of-the-construction-guarantee-cooperative/ HONG KONG – (COMMERCIAL THREAD) –AM Best confirmed the financial strength rating of A + (superior) and the long-term issuer credit rating of “aa-” (superior) of Construction Guarantee Cooperative (CG) (South Korea). The outlook for these credit ratings (ratings) is stable. The ratings reflect the strength of CG’s balance sheet, which AM Best considers to […]]]>

HONG KONG – (COMMERCIAL THREAD) –AM Best confirmed the financial strength rating of A + (superior) and the long-term issuer credit rating of “aa-” (superior) of Construction Guarantee Cooperative (CG) (South Korea). The outlook for these credit ratings (ratings) is stable.

The ratings reflect the strength of CG’s balance sheet, which AM Best considers to be the strongest, as well as its strong operational performance, favorable business profile and appropriate enterprise risk management (ERM).

CG’s risk-adjusted capitalization is valued at the highest level, as measured by Best’s capital adequacy ratio (BCAR), supported by its large absolute capital base of KRW 6.5 trillion (5.9 billion USD) at the end of 2020, extremely low net underwriting, leverage and a very favorable liquidity position. The company’s prudent investment portfolio focuses on liquidity for the payment of surety debts and lending to its members as a cooperative and helps maintain the stability of its strong risk-adjusted capital position. .

CG’s strong operational performance is supported by its highly profitable bond underwriting performance and stable investment income, as evidenced by a five-year average combined ratio of 54.2% (2016-2020) and an operating ratio. -3.4%, although volatile from year to year. -year. Its bond underwriting results were not significantly impacted by the COVID-19 pandemic due to stable and increasing levels of new construction in the public sector and a still favorable private housing market in South Korea. In 2020, the profitability of its surety line improved further, coupled with a favorable loss experience, which led to a reversal of its provisions for surety claims.

CG’s strong price negotiating power resulting from its dominant market share and the mandatory nature of surety bonds in construction projects partially offset underwriting volatility caused by the strong correlation between its operational performance and the construction industry. . Meanwhile, CG’s insurance business, which accounted for 17% of its gross written premiums (GWP), suffered a very small net loss in 2020, mainly due to the increase in weather-related claims over the course of the year. ‘year. While the impact on CG’s bottom line was minimal, AM Best notes that the company has implemented mitigation measures to ensure its stable performance, such as rate increases and tighter underwriting. A strong flow of investment income provides additional stability to CG’s overall bottom line.

Established in 1963 under the Korea Construction Financial Cooperatives Act, CG is 100% owned by its members, who make up the majority of general construction companies in South Korea. As the government appointed guarantor for general contractors, CG has an established presence in the construction surety segment in South Korea with the largest market share of over 50% based on total underwriting volume in South Korea. 2020. With regard to the general contractors segment only, CG accounted for a 75% share in 2020. To mitigate its risk of concentration within the national construction surety line, the company has diversified its activities into expanding into overseas construction bonds and construction-related insurance business; these represented around 7% and 17% of the total PRP in 2020, respectively.

AM Best considers CG’s risk management capabilities to be aligned with its risk profile. Its main risk areas are effectively monitored through a comprehensive ERM structure, which includes a sophisticated credit assessment system and real-time monitoring of the financial situation of its members.

Negative rating actions could occur if CG’s operational performance deteriorates significantly due to a significant build-up of bond claims resulting from a prolonged downturn in the overall economy and the construction industry.

Ratings are communicated to rated entities before their publication. Unless otherwise indicated, the ratings have not been changed as a result of this communication.

This press release relates to credit ratings published on the AM Best website. For all rating information relating to the publication and relevant disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this publication, please see AM Best’s Recent Rating Activity webpage. . For more information on the use and limitations of credit rating reviews, please see Best’s Guide to Credit Ratings. For more information on the proper use of Best Credit Ratings, Best Preliminary Credit Ratings, and AM Best press releases, please see the Guide to Appropriate Use of Best Ratings and Ratings.

AM Best is a global credit rating agency, news publisher, and data analytics provider specializing in the insurance industry. Based in the United States, the company operates in more than 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2021 by AM Best Rating Services, Inc. and / or its affiliates. ALL RIGHTS RESERVED.


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Cowboys waves over LB Smith’s exit as players advance https://nowwashyourhands.com/cowboys-waves-over-lb-smiths-exit-as-players-advance/ https://nowwashyourhands.com/cowboys-waves-over-lb-smiths-exit-as-players-advance/#respond Wed, 06 Oct 2021 22:13:22 +0000 https://nowwashyourhands.com/cowboys-waves-over-lb-smiths-exit-as-players-advance/ FRISCO, TX (AP) – Jaylon Smith’s dark future with the Dallas Cowboys was most evident when he only played 16 snaps in Game 1 after averaging 95% of plays over the three seasons previous ones. Now that the roster looks more like it was in that 31-29 loss to defending Super Bowl champion Tampa Bay, […]]]>

FRISCO, TX (AP) – Jaylon Smith’s dark future with the Dallas Cowboys was most evident when he only played 16 snaps in Game 1 after averaging 95% of plays over the three seasons previous ones.

Now that the roster looks more like it was in that 31-29 loss to defending Super Bowl champion Tampa Bay, the Cowboys leave the linebacker who recovered from a serious knee injury during his last college game to become one of their most enduring players.

Coach Mike McCarthy won’t go into details of the factors in a statement that became official on Wednesday, but another was the looming $ 9.2 million guarantee of Smith’s salary in 2022 if he was injured.

McCarthy also didn’t explain why they wouldn’t keep Smith in depth as an inactive player, or why they waited up to four games in the season. The Cowboys (3-1) face the New York Giants (1-3) in the last of three straight home games on Sunday.

“There are always factors involved, how you build your 90-man roster, how you go through training camp and get to the 53 and the extended practice squad,” said McCarthy. “He played a lot of good football for us. I have nothing but respect for him.

Smith’s release hit a sore spot with fellow linebacker Leighton Vander Esch, who have been teammates since they went to the playoffs together in 2018. Vander Esch said Smith made a statement to defensive coordinator Dan Quinn to ask him to do so. read it to the players he left behind.

“The statement he made… telling us to go get her and that he supports everyone no matter what situation he finds himself in, that just shows you the character and type of person he is. “said Vander Esch. “Yes, it is a difficult situation.”

Vander Esch, whose own future with the Cowboys beyond this season is in question, said he found out about Smith’s release on social media after receiving texts asking him to. These circumstances triggered it.

“What bothers me the most is when the people outside, the fans or whoever, they want to say, ‘Oh, someone deserves this or someone deserves that'”, said Vander Esch, a 2018 first-round draft pick whose fifth-year option for next season has not been retained.

“We’re not talking about someone else’s work, so why are they talking about our jobs? It’s really frustrating. It’s boring. I think it’s classless. I have a lot of strong words for that. I know a lot of guys in the league take care of it.

As Smith’s productivity and value on the field declined, questions will remain as to whether the Cowboys compromised their quick start to the season with a somewhat surprising decision that perhaps could have waited.

The impact was clear on Vander Esch, who said he hadn’t spoken to Smith and wanted to let things “die out” first. Running back Ezekiel Elliott, who entered the NFL with Smith in 2016, better hid his emotions while acknowledging the connection runs deep.

“I don’t think we can let that hurt the energy,” Elliott said. “We cannot let this be a distraction. We still have the goal of winning a Super Bowl this year. Yeah, that sucks. But we have to control what we can control as a team and go out there and improve. “

After Smith’s 48-game start streak ended in Game 1, his snaps increased the next two games as rookie Micah Parsons, the 12th overall, played mostly as a passer due to the absence. defensive linemen.

Parsons was back at linebacker last week against Carolina, and converted safety Keanu Neal returns against the Giants after missing two games with a positive COVID-19 test. Defensive end Bradlee Anae was also activated from the COVID-19 roster on Wednesday.

Smith didn’t play as a rookie as he recovered from a left knee injury in his last game at Notre Dame – against Elliott and Ohio State. Two years later, he hit career highs of four sacks and 13 quarterback presses before leading the team in tackles the past two seasons.

After signing a five-year, $ 64 million extension, Smith made the Pro Bowl as an injury replacement in 2019. The contract called for $ 35 million in guaranteed money. The Cowboys moved on because they didn’t want to be hooked any longer.

“I just think he’s a great person beyond football,” Parsons said. “He does everything right, really sincere for him. I looked at him like a big brother. It was quite difficult when I heard the news.

NOTES: Elliott did not train due to a knee problem. The two-time running champion said the tension he felt in his knee the day after the game had eased considerably and he was not worried about being available against the Giants. … DT Carlos Watkins returned to training after missing the previous two games with a knee injury.

___

More AP NFL coverage: https://apnews.com/hub/NFL and https://twitter.com/AP_NFL

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France will define an “action plan” on the UK and fisheries on October 15 https://nowwashyourhands.com/france-will-define-an-action-plan-on-the-uk-and-fisheries-on-october-15/ https://nowwashyourhands.com/france-will-define-an-action-plan-on-the-uk-and-fisheries-on-october-15/#respond Wed, 06 Oct 2021 09:00:00 +0000 https://nowwashyourhands.com/france-will-define-an-action-plan-on-the-uk-and-fisheries-on-october-15/ French Finance Minister Bruno Le Maire touched on a variety of topics in his latest interview, as he said France would define an “action plan” on the UK and fisheries on October 15. It comes as France once again threatened to cut the UK’s energy supply as it tried to pressure London over the ongoing […]]]>

French Finance Minister Bruno Le Maire touched on a variety of topics in his latest interview, as he said France would define an “action plan” on the UK and fisheries on October 15.

It comes as France once again threatened to cut the UK’s energy supply as it tried to pressure London over the ongoing dispute over post-Brexit fishing rights.

Additional comments

“We are one millimeter away from a global corporate tax deal.”

“Some Member States are asking for a 10-year implementation period on taxation – ‘why not? “”

“We need a deal by the end of the month.”

On the negotiations on global corporate taxation: “I have been waiting for this for over 4 years. “

On the Global Business Tax Negotiations: “I can wait a few more days. “

“We could next week in Washington or the G20 sign the final tax deal.”

On natural gas: “We don’t want to pay too high a price for gas in France.

On natural gas: “I told the EU partners that we don’t want the price of electricity to be totally dependent on the price of gas. “

On natural gas: “We want electricity prices in the EU to depend on the average cost of production and not on gas.

On steel / aluminum tariffs: “Let’s eliminate any trade war between the EU and the US. “

On relations with the United States: “We need to get rid of the tariffs on steel / aluminum.

On American relations: “If we are all determined to find a compromise, it is possible to avoid sanctions on steel / aluminum.

“We are on the right track to improve relationships.

“We want the EU to be as strong and independent as China or the US.”

“We don’t want to depend on China or the United States for technology. “

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Opinion: How US and China Can Avoid Sleepwalking in War https://nowwashyourhands.com/opinion-how-us-and-china-can-avoid-sleepwalking-in-war/ https://nowwashyourhands.com/opinion-how-us-and-china-can-avoid-sleepwalking-in-war/#respond Tue, 05 Oct 2021 19:45:00 +0000 https://nowwashyourhands.com/opinion-how-us-and-china-can-avoid-sleepwalking-in-war/ CAMBRIDGE, Mass. (Project Syndicate) —As President Joe Biden’s administration implements its great power competition strategy with China, analysts are looking for historical metaphors to explain the escalation of the rivalry. But while many cite the start of the Cold War, a more disturbing historical metaphor is the start of World War I. In 1914, all […]]]>

CAMBRIDGE, Mass. (Project Syndicate) —As President Joe Biden’s administration implements its great power competition strategy with China, analysts are looking for historical metaphors to explain the escalation of the rivalry. But while many cite the start of the Cold War, a more disturbing historical metaphor is the start of World War I. In 1914, all the great powers expected a short Third Balkan War. Instead, as British historian Christopher Clark has shown, they sleepwalking in a conflagration that spanned four years, destroyed four empires and killed millions of people.

At the time, leaders did not pay enough attention to changes in the international order that used to be called the “concert of Europe”. One important change has been the growing strength of nationalism. In Eastern Europe, Panslavism threatened both the Ottoman and Austro-Hungarian empires, which had large Slavic populations. German writers wrote about the inevitability of Teutonic-Slavic battles, and textbooks ignited nationalist passions.

The White House’s gradual approach to China was aimed at strengthening the United States’ position before fully engaging with Beijing. But as the WSJ’s Gerald F. Seib explains, a few issues could soon lead to a one-on-one meeting between President Biden and Xi Jinping. Photographic illustration: Todd Johnson

Nationalism has proven to be a stronger bond than socialism for the working classes of Europe, and a stronger bond than capitalism for European bankers.

There was a terrible awkwardness about Kaiser Wilhelm II’s pursuit of greater power. Something similar can be seen with President Xi Jinping.

In addition, there was a growing complacency towards peace. The great powers had not been involved in a war in Europe for 40 years. Of course, there had been crises – in Morocco in 1905-06, in Bosnia in 1908, in Morocco again in 1911, and the Balkan wars in 1912-13 – but they had all been manageable. The diplomatic compromises that resolved these conflicts, however, fueled frustration and growing support for revisionism.

Many leaders came to believe that a short decisive war won by the fittest would be a welcome change.

A third cause of the loss of flexibility in the international order at the turn of the 20th century was German policy, which was ambitious but vague and confusing. There was a terrible awkwardness about Kaiser Wilhelm II’s pursuit of greater power. Something similar can be seen with President Xi Jinping’s “China Dream”, his abandonment of Deng Xiaoping’s patient approach and the excesses of China’s “wolf warrior” nationalist diplomacy.

Inadvertent escalation

Policymakers today need to be alert to the rise of nationalism in China as well as populist chauvinism in the United States. Combined with China’s aggressive foreign policy, a history of dead ends and unsatisfactory compromises on Taiwan, the prospects for an inadvertent escalation between the two powers exist.

As Clark puts it, once disasters like World War I occur, “they impose on us (or appear to do) a sense of their necessity.” But in 1914, Clark concludes, “the future was still open, fair. Despite all the hardening of the fronts in both European armed camps, there were signs that the time for a major confrontation might have passed.

A successful strategy must prevent sleepwalking syndrome.

By 1914 Austria had had enough of upstart Serbian nationalism. The assassination of an Austrian archduke by a Serbian terrorist was a perfect pretext for an ultimatum. Before going on vacation, the German kaiser decided to dissuade a rising Russia and support its Austrian ally by handing Austria a diplomatic blank check. When he returned and learned how Austria had filled it in, he tried to retract it, but it was too late.

Such a strategy can be successful if the United States avoids ideological demonization and deceptive Cold War analogies, and maintains its alliances.

The United States hopes to deter China from using force and preserve the legal vacuum of Taiwan, which China sees as a renegade province. For years, US policy has been designed to discourage Taiwan’s declaration of de jure independence as well as the use of force by China against the island. Today, some analysts are warning that this policy of double deterrence is outdated, as China’s growing military might could spur its leaders to act.

Others believe that an outright guarantee to Taiwan or hints that the United States is moving in that direction would spur China to act. But even if China avoids a full-scale invasion and simply tries to coerce Taiwan with a blockade or by taking one of its offshore islands, all bets would be wrong if an incident involving ships or planes resulted in casualties of life. If the United States responds by freezing assets or invoking the Trading with the Enemy Act, the two countries’ metaphorical war could quickly become a reality.

The lessons of 1914 are to beware of sleepwalking, but they do not provide a solution to the management of the Taiwan problem.

Successful diplomacy begins at home

A successful US strategy towards China begins at home. We must preserve democratic institutions that attract rather than constrain allies, invest in research and development that maintains America’s technological advantage, and keep America open to the world.

Externally, the United States would have to restructure its traditional military forces to accommodate technological change; strengthen alliance structures, including NATO and agreements with Japan, Australia and South Korea; strengthen relations with India; strengthen and complement the international institutions that the United States helped create after World War II to set standards and manage interdependence; and cooperate with China to the extent possible on transnational issues.

So far, the Biden administration has followed such a strategy, but 1914 is a constant reminder of caution.

In the short term, given Xi’s authoritarian policies, the United States will likely have to spend more time on the rivalry side of the equation. But such a strategy can be successful if the United States avoids the ideological demonization and deceptive Cold War analogies, and maintains its alliances. In 1946, George Kennan correctly predicted a decades-long confrontation with the Soviet Union. The United States cannot contain China, but it can constrain China’s choices by shaping the environment in which it operates.

If the Sino-American relationship were a hand of poker, Americans would recognize that they received a good hand and avoid succumbing to fear or belief in the decline of the United States. But even a good hand can lose if played poorly.

Joseph S. Nye Jr. is a professor at Harvard University and author of “Do Morals Matter?” Presidents and foreign policy from FDR to Trump.

This comment was posted with permission from Project Syndicate – The China Sleepwalking Syndrome.

Learn more about China from the experts at Project Syndicate:

Raghuram G. Rajan: Risky crackdown on Chinese companies threatens to block innovation and growth

Anne-Marie Slaughter: America must be honest about its failures

Chang-Tai Hsieh: US policy towards China is misguided, as it would actually strengthen China and weaken the United States


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