Guarantee Payment – Now Wash Your Hands http://nowwashyourhands.com/ Tue, 19 Oct 2021 09:29:15 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://nowwashyourhands.com/wp-content/uploads/2021/07/icon-4.png Guarantee Payment – Now Wash Your Hands http://nowwashyourhands.com/ 32 32 Bitcoin is part of pitch as El Salvador courts IMF deal https://nowwashyourhands.com/bitcoin-is-part-of-pitch-as-el-salvador-courts-imf-deal/ https://nowwashyourhands.com/bitcoin-is-part-of-pitch-as-el-salvador-courts-imf-deal/#respond Tue, 19 Oct 2021 09:00:00 +0000 https://nowwashyourhands.com/bitcoin-is-part-of-pitch-as-el-salvador-courts-imf-deal/ (Bloomberg) – Bloomberg’s Most Read Adoption of Bitcoin, the first of its kind in El Salvador, will not be an obstacle for the government to reach a $ 1.3 billion loan deal with the International Monetary Fund, according to the president of the country’s central bank . The cryptocurrency will lose its reputation as a […]]]>

(Bloomberg) –

Bloomberg’s Most Read

Adoption of Bitcoin, the first of its kind in El Salvador, will not be an obstacle for the government to reach a $ 1.3 billion loan deal with the International Monetary Fund, according to the president of the country’s central bank .

The cryptocurrency will lose its reputation as a speculative asset and prove its use as a legitimate payment system, central bank president Douglas Rodriguez said in an interview on Monday. He even expects Bitcoin’s notorious price volatility to help the economy grow more than the 9% the bank is forecasting this year.

“We don’t see any risk. Maybe, risks on the rise, ”Rodriguez said in a virtual interview from San Salvador. Bitcoin will become “a payment system, a financial inclusion system”.

This is something he said the nation pointed out to the IMF amid talks for a potential $ 1.3 billion extended fund facility. The IMF is expected to release its latest report on El Salvador’s finances and economy next month, which could revive discussions. Investors are keeping a close watch on the long-running negotiations, especially in the shadow of controversial political decisions under President Nayib Bukele, such as the replacement of top judges and the legal tender of Bitcoin.

Although the country does not have large dollar bond payments until 2023, it is heavily in debt and needs a deal with the multilateral lender to unlock international market access next year.

“We explained openly to the IMF: For us, Chivo and Bitcoin are just a method of payment,” said Rodriguez, who was appointed head of the central bank in September 2020. Rodriguez worked in two municipal governments while Bukele was mayor and joined Finance. Ministry in 2019 when Bukele became president.

Risks associated with adopting Bitcoin, the uncertainty of a deal with the IMF, and other policy measures have led fund managers to demand additional returns to hold El Salvador’s sovereign debt on US Treasuries to a peak of 1,115 basis points in September, above the threshold considered to be in difficulty. The IMF warned in June of the financial and regulatory challenges associated with the use of cryptocurrency, while Moody’s Investors Service said the move jeopardized a program with the fund. On Monday, the risk premium was 975 basis points, according to the JPMorgan Chase & Co indices.

Fund managers are also monitoring risks as the government considers possible pension reform. Although Rodriguez has said the changes will not affect the retirement age and guarantee a “dignified retirement”, it has not been defined whether all, all or part of the system will be nationalized, he said. .

The new role of Bitcoin

Adopting cryptocurrency is a way for Salvadorians to access more payment methods in a country where more than three-quarters of citizens are unbanked, Rodriguez said. He called it a means of inclusion for those the financial industry deems too low income or high risk.

Salvadorans started using the government’s Chivo wallet last month, which was preloaded with $ 30 in Bitcoin, to buy dips and sell rallies with fractional amounts of the cryptocurrency.

Businesses in the capital of San Salvador, from Starbucks and McDonald’s to local electronics stores, began to accept it in exchange for goods. Rodriguez reiterated that the use of the cryptocurrency is optional and expects it to be used alongside the US dollar.

The next step for the government is to provide Salvadorians living in the United States with identification numbers, a requirement for opening a Chivo account, he said. This could provide a cheaper way for those living abroad to send money back to El Salvador, Rodriguez added.

The central bank expects remittances to hit a record $ 6.3 billion this year, 31% more than in 2020, as the U.S. economy rebounds. Higher inflows could lead the bank to revise its growth forecasts up to 10% before the end of the year.

Although fees for using Bitcoin vary, companies, including Western Union, offer free methods of sending money digitally to El Salvador.

Bitcoin surged on Monday, threatening to challenge all-time highs reached earlier this year.

Bloomberg Businessweek Most Read

© 2021 Bloomberg LP


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As Evergrande’s default looms, what legal options do offshore creditors have? https://nowwashyourhands.com/as-evergrandes-default-looms-what-legal-options-do-offshore-creditors-have/ https://nowwashyourhands.com/as-evergrandes-default-looms-what-legal-options-do-offshore-creditors-have/#respond Mon, 18 Oct 2021 04:33:16 +0000 https://nowwashyourhands.com/as-evergrandes-default-looms-what-legal-options-do-offshore-creditors-have/ A traffic light is seen near the headquarters of the China Evergrande group in Shenzhen, Guangdong province, China on September 26, 2021. REUTERS / Aly Song / File Photo As the China Evergrande group’s default deadline approaches, the property developer’s offshore bond investors are considering their legal options to protect their investments. Below are a […]]]>
A traffic light is seen near the headquarters of the China Evergrande group in Shenzhen, Guangdong province, China on September 26, 2021. REUTERS / Aly Song / File Photo

As the China Evergrande group’s default deadline approaches, the property developer’s offshore bond investors are considering their legal options to protect their investments.

Below are a few factors at play as offshore investors, with some $ 20 billion in Evergrande debt outstanding, prepare to face the potential fallout from what could become the biggest corporate default. Chinese:

DO EVERGRANDE’S OFFSHORE BONDS CONTAIN AN ISSUER GUARANTEE?

Chinese legal rules prevent mainland-incorporated parent companies from guaranteeing the offshore debt of their subsidiaries without going through a registration and approval process.

To get around this problem, offshore corporate bonds, in many cases, are issued by Special Purpose Vehicles (SPVs) and feature a so-called sustaining structure.

Many market players have bypassed the lack of collateral by using deeds of custody – a commitment to the bondholders and the offshore SPV that issues the debt, that the parent company will ensure that the SPV maintains equity. positive and remains solvent.

The keepwell structure emerged in 2012-2013, according to Fitch, who cited data estimating that by 2020 more than 16%, or nearly $ 100 billion, of offshore bonds issued by Chinese companies contained keepwell structures.

IS THE KEEPWELL STRUCTURE LEGALLY APPLICABLE?

Chinese courts are generally considered to have a wide discretion to refuse to apply withholding, based on the public interest.

“The fundamental question for investors is whether the keepwell agreement is enforceable and what difference it can make to the group’s default recovery process,” said Matthew Chow of S&P Global Ratings.

The test cases for this structure were rare.

Chow cites the case of Peking University Founder Group Co Ltd, where court-appointed directors decided last year that they would not recognize the acts of keepwell the group’s offshore bonds in default.

But in another case, an offshore bondholder in CEFC Shanghai International Group Limited (CEFC), which filed a complaint in Hong Kong against the company for breach of the Deed of Conservation, obtained a default judgment in its favor.

This decision was confirmed last November on the grounds that the execution would not be contrary to the public interest, Ashurst law firm said. But she notes that a decision might have been different if the proceedings had been challenged.

WHAT ARE THE OTHER OPTIONS?

Given Evergrande’s entrenchment in the Chinese economy, some analysts have expressed doubts about the enthusiasm of Chinese courts to facilitate payment to foreign creditors, potentially to the detriment of domestic creditors.

David Billington, restructuring partner at Cleary Gottlieb Steen & Hamilton LLP, said creditors may have other options.

“Instead of applying the keepwell itself, bondholders could put the offshore issuing company into liquidation or other insolvency proceedings,” Billington said.

This would essentially mean that the creditors would take over the SPV that issued the bonds through a liquidator, who would then pursue the vehicle’s claims against the Chinese parent company.

Such a decision could improve the outlook for the Chinese court, Billington said.

“Instead of issuing a judgment demanding payment directly to a group of foreign creditors, the Chinese court would simply honor a promise that a mainland parent company gave to its subsidiary, which it broke.”

However, the nature of the issuers and the invisible hand of authorities can prove to be a stumbling block, said Karl Clowry, restructuring partner at Addleshaw Goddard in London.

“Evergrande is almost akin to a quasi-sovereign debt restructuring in that the important stakeholders and the authorities undoubtedly dictate what needs to be done, although the sponsor is still in place,” he said. declared.

“The hand of the government and the authorities is never far away.”

WHAT ARE THE CHANCES OF OFFSHORE BONDERS OF RECOVERING MONEY?

Chinese restructurings are often complicated and difficult to standardize, according to S&P. However, when it comes to defaults on dollar obligations, out-of-court restructurings are common and give creditors some leeway to enter into a different deal than that agreed upon with domestic creditors and within different time frames.

Tewoo The group made an exchange and takeover bid for its four U.S. dollar bonds in December 2019, while the restructuring of the company’s onshore debt was approved approximately a year later.

Even going through a judicial restructuring doesn’t always make for a comfortable reading when it comes to cash recovery rates – which depend on a multitude of factors ranging from asset quality to equity holdings and complexity of the transaction. group structure.

Based on a review of nearly 50 defaulters subject to judicial restructurings, S&P found that investors had recorded an average recovery of 23.7%.

“Everyone is watching to see how it goes,” said a Hong Kong-based lawyer at a large Western law firm. “The result of this could have an impact on how restructurings are carried out here in the future.”


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How to shop safely online https://nowwashyourhands.com/how-to-shop-safely-online/ https://nowwashyourhands.com/how-to-shop-safely-online/#respond Sat, 16 Oct 2021 23:07:01 +0000 https://nowwashyourhands.com/how-to-shop-safely-online/ By Emily Alvarenga Senior Signal Editor No one is safe from scams, not even Nathan Grant, senior credit industry analyst at Credit Card Insider, who tells the story of a time he was cheated online by a change site. address. “I just Google ‘free change of address’ and… clicked on the first link that came […]]]>

By Emily Alvarenga

Senior Signal Editor

No one is safe from scams, not even Nathan Grant, senior credit industry analyst at Credit Card Insider, who tells the story of a time he was cheated online by a change site. address.

“I just Google ‘free change of address’ and… clicked on the first link that came up that looked completely legitimate,” Grant said. “There were the US Postal Service logos and everything, but it ended up being a scam site.”

Although the site did provide the service, it charged Grant $ 45, rather than the $ 1 it advertised.

“So you wouldn’t be wiser if you weren’t careful with your transactions,” Grant added.

With the holiday season just around the corner, it’s almost guaranteed that many of us will be going online to do some of our holiday shopping.

Over the years, the internet has revolutionized the way people shop, allowing items to arrive at your doorstep days later with just a few clicks.

It has also led to an increase in the number of scammers, with shoppers being scammed every day online.

Along with the increase in online shopping is also an increase in credit card fraud, which has become one of the fastest growing forms of identity theft, according to Grant.

Find trusted websites to buy from

“Scammers look for every opportunity to try to scam people,” Grant said, adding that there are ways to avoid getting scammed by bogus sites.

When shopping online, there are a few things you can look for to make sure that a website is secure and legitimate, including HTTPS, rather than HTTP, in the website URL as the S stands for secure which means that the site has secure encryption, or a padlock symbol to the left of the address bar also means the site is secure.

Online shoppers should create unique passwords when creating accounts to prevent hackers from accessing multiple accounts using the same login information.

Additionally, buyers must use secure networks to shop, as hackers can spy on public wifi networks and intercept financial data.

Beware of untrustworthy ‘drop shippers’

Have you ever bought something online just so it looks nothing like the photos and description when it arrives?

This is called “drop-shipping” and it has become one of the most common ways for people to get ripped off while shopping online.

Amazon, for example, doesn’t just sell its own products. It also allows small businesses to sell items in its marketplace, which they call “third party sellers” – some of whom are not as reliable.

Scammers on sites like this often steal photos and ad descriptions of a real seller, creating their own ads selling the same product for a fraction of the price, and then shipping shoddy products instead.

Worse yet, you often cannot return the product as many of these third-party sellers do not offer the same return policy as Amazon, nor do they offer refunds.

However, there are ways to avoid getting scammed by drop shippers like reading reviews as no reviews or negative reviews can often be a warning sign, beware of long delivery times as this Usually indicates that the products are shipped from China, or check the return policy before making any purchases.

On Amazon, choosing the ‘Amazon Prime only’ option may also exclude scammers, as third-party sellers who use Amazon Prime must adhere to Amazon’s terms and conditions, including free shipping and no-questions-asked refunds for the returns. Buyers should compare sellers when shopping when there are multiple sellers with the same product, looking for the one with the best reviews.

Think about your payment method

A good first line of defense to ensure that your card information has not been stolen is to keep an eye on your online statements, and while there is no guarantee that you will not be a victim. of a scam, which payment method to use can help. get your money back if you do.

Using a credit card rather than a debit card, which is linked to your real bank account with your real money, is a suggestion.

Once the money is withdrawn from your debit account, that money will disappear until the fraud investigation is resolved, which can take weeks, while credit cards use up the borrowed credit and have protections. integrated.

Online shoppers should also consider taking advantage of third-party apps, like Paypal, which protect your payment information and provide protections for buyers when paying on new sites.

Mobile and digital wallets, like Apple Pay and Google Pay, can also be more secure because they also encrypt your data, using tokenization to replace sensitive data on your card with a string of letters and numbers that don’t have no meaning outside of the transaction that produced them. .


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Commercial flights will resume on November 1 at Cheyenne Airport https://nowwashyourhands.com/commercial-flights-will-resume-on-november-1-at-cheyenne-airport/ https://nowwashyourhands.com/commercial-flights-will-resume-on-november-1-at-cheyenne-airport/#respond Fri, 15 Oct 2021 17:16:00 +0000 https://nowwashyourhands.com/commercial-flights-will-resume-on-november-1-at-cheyenne-airport/ October 15 – CHEYENNE – The Cheyenne Regional Airport Council announced Thursday that commercial airline flights to and from the capital are scheduled to resume on November 1. The airport will serve two United Express flights per day to and from Denver International Airport and will have over 100 seats for each trip. This was […]]]>

October 15 – CHEYENNE – The Cheyenne Regional Airport Council announced Thursday that commercial airline flights to and from the capital are scheduled to resume on November 1.

The airport will serve two United Express flights per day to and from Denver International Airport and will have over 100 seats for each trip. This was made possible by the completion of phase two of the track construction, which will continue over the next year.

“We are committed to ensuring that the track is open and safe at that time,” said ARC General Manager Nathan Barton.

Delays due to the pandemic and supply chain issues have been a major setback for the airport in recent months.

Tim Barth, director of aviation at Cheyenne Regional Airport, said this was because runway construction had not been immune to nationwide stock shortages. Throughout the year, the airport struggled to find concrete suppliers and the eventual transport of materials was affected by the lack of truck drivers.

He said what was supposed to be a three month project quickly turned into a six and a half.

But as phase two of the project is complete and commercial air service returns, the future of the airport is still in jeopardy.

The Federal Aviation Administration has allocated about $ 60 million for the construction of the Cheyenne Airport runway, but it will be administered in doses over the next five years. With insufficient funding to complete the project, the airport risks closing twice more and delaying its grand reopening.

U.S. Senator Cynthia Lummis, R-Wyo., Addressed panelists at the Senate Trade Committee meeting last month in Washington and asked for support from federal officials to readjust the timing of the dispersal of funds. This would allow the airport to receive full payment within one year and only close the runway once.

“Without some funding from the Federal Aviation Administration, the airport will not be able to offer commercial air service for the foreseeable future, maybe a year or two,” Lummis said. “That would make it the only state in the country whose capital does not have commercial air service.”

This affects not only residents of Laramie County and surrounding areas, but also members of the Wyoming Air National Guard and airmen stationed at FE Warren Air Force Base, as the nuclear missile base does not have a track.

Barth said the board was unaware of the ongoing conversations in the nation’s capital regarding the funds, but Lummis and his staff will update them by the end of the year.

Conversations about the airport’s financial situation are not just happening on the east coast, but also in Laramie County. The airport is included in two proposals on the sixth-centime sales tax vote, which are unrelated to the construction of the runway.

Funding of over $ 800,000 is included in Proposal 3 for the development of a larger parking lot for the airport. Barth said when the new terminal was built, only 60 spaces were reserved for parking, and that’s not doable with two flights a day starting next month.

Proposal 14 is entirely dedicated to the airport and requires a much greater investment from the community. Nearly $ 2.25 million would be used by the City of Cheyenne to fund the minimum income guarantee for the airline.

Federal law prohibits the airport from participating in the minimum income guarantee. Small communities require it to offer some form of insurance to the commercial airline in case the route is not as successful as expected.

Sixty percent of the funding has already come from the state, and the rest is the responsibility of the city and county. Laramie County paid its share, and the city would make up the remaining 20%.

“If the citizens want this to happen,” Barth said, “we have to provide this security blanket.”

County residents will have the opportunity to vote on November 2 for both proposals. Barth said he saw the community rally around the airport in previous elections, and he hopes they will continue to support the board’s efforts.

Jasmine Hall is the Wyoming Tribune Eagle education reporter. She can be reached by email at jhall@wyomingnews.com or by phone at 307-633-3167. Follow her on Twitter @jasminerhphotos and on Instagram @ jhrose25.


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SBT and NTT Com to Begin Testing Local Currency Price Display and Settlement System for Cross-Border Used Car Sales and Export https://nowwashyourhands.com/sbt-and-ntt-com-to-begin-testing-local-currency-price-display-and-settlement-system-for-cross-border-used-car-sales-and-export/ https://nowwashyourhands.com/sbt-and-ntt-com-to-begin-testing-local-currency-price-display-and-settlement-system-for-cross-border-used-car-sales-and-export/#respond Wed, 13 Oct 2021 05:04:00 +0000 https://nowwashyourhands.com/sbt-and-ntt-com-to-begin-testing-local-currency-price-display-and-settlement-system-for-cross-border-used-car-sales-and-export/ TOKYO – (COMMERCIAL THREAD) – SBT Co., Ltd. (SBT), a trading company specializing in the export of automobiles and other vehicles to over 150 countries and regions around the world, and NTT Communications Corporation (NTT Com), ICT solutions and international communication within the NTT group (TOKYO: 9432), today announced that it will test a solution […]]]>

TOKYO – (COMMERCIAL THREAD) – SBT Co., Ltd. (SBT), a trading company specializing in the export of automobiles and other vehicles to over 150 countries and regions around the world, and NTT Communications Corporation (NTT Com), ICT solutions and international communication within the NTT group (TOKYO: 9432), today announced that it will test a solution to display prices and settlement details in local currencies at guaranteed exchange rates on the e-commerce site cross-border SBT.

The trial, which kicks off on October 13, will introduce local currency pricing and settlement on SBT’s e-commerce site – the first of its kind in cross-border vehicle e-commerce.1 NTT Com’s Home Currency Anywhere ™ (HCA) Service2 will be used to secure the exchange rates at the time of the contract during the period of transport of the vehicles. The objective of the proposed new service is to increase convenience for users and further expand the used vehicle market, and the trial will seek to uncover other potential needs in this market.

The envisaged verification process will be as follows:

Step 1: Display car prices in the appropriate local currency on the SBT e-commerce site, measure levels of car use by buyers, followed by a survey that collects the reasons why users choose them. rates in local currency and their comments on the facility.

Step 2: For currencies that prove popular in Step 1, implement local currency settlement and rate guarantee functions, measure the rates of use thereof, followed by survey collecting reasons why users choose local currency settlement or guaranteed exchange rate, and whether they will use it again.

The test will run from October 2021 to January 2022 at SBT’s used car cross-border e-commerce site. SBT will use the HCA service to display prices and settlement amounts in the national currencies of potential buyers and to provide guaranteed rates for settlements. NTT Com will provide guaranteed exchange rates and be responsible for the design of the e-commerce platform.

Based on the results of this trial, the two companies aim to provide large-scale local currency pricing and settlement at guaranteed rates in Africa, Latin America, Asia and some other regions, by the end. from 2022. Additionally, NTT Com’s “NonMado,”3 a communication tool with multilingual translation functions will be used to facilitate commercial negotiations with foreign clients and thus increase the volume of transactions.

This collaboration with NTT Com will allow SBT to expand its business beyond a “From Japan to the World” model to a “From the World to the World” model, and the company will continue to develop services aimed at increasing customer satisfaction. customers all over the world. .

Based on the “Re-connect X ™ business vision,5“NTT Com will help achieve a sustainable future in the New Normal World by providing ICT services and solutions that reconnect consumers and businesses to new societal values ​​in a safe, secure and flexible way.

The number of used cars exported from Japan to overseas countries has grown steadily in recent years and is currently estimated at around 1.47 million units per year, with a total value of exports of 700 billion yen (about 6.2 billion dollars).4 In particular, exports to Kenya and other African countries have increased since 2016, alongside Africa’s remarkable economic growth.

Used cars exported from Japan to Africa are mostly transported by sea, with shipments taking around 30-40 days. The payment of costs is made in several installments between the conclusion of the contract and the landing of the vehicle in the country of destination in order to reduce the risk for both the seller and the buyer. However, there is a risk of exchange rate fluctuations during long transit times. In some cases, local suppliers cannot fix the selling price because the exact purchase price cannot be determined until the vehicle is unloaded, and individual buyers have to sign contracts without knowing the price. exact purchase. In addition, the lack of familiarity with foreign currencies among many market participants often leads to errors during the contract and payment process.

Related links:

SBT used car export cross-border e-commerce site

Home Currency Anywhere ™ Service Site

NTT Com will launch Japan’s first guaranteed rate currency information and transaction data service. (Press release published on November 12, 2019)

1.

According to SBT.

2.

Home Currency Anywhere ™ is a service provided by NTT Com that provides guaranteed exchange rates and transaction information in a safe and secure environment.

3.

NoMado is a new communication tool developed by NTT Com. It has a multilingual translation feature that allows simultaneous translation of a user’s speech into other languages, for example during meetings or business negotiations with people from other countries.

4.

Refers to “Wholesale Operations Strengthening Survey (2) – Export of Used Vehicles” released by the Used Car Committee of the Japan Used Car Dealers Association on April 26, 2021.

5.

Re-connect X is the vision that NTT Com has been pursuing since 2020. As part of this vision, NTT Com contributes to the achievement of a sustainable future in a “new normal” world by providing ICT services and solutions that “reconnect customers, businesses and society with new value ”in a safe, secure and flexible way.

Reconnect X

https://www.ntt.com/en/about-us/re-connectx.html

About SBT

The automobile export business has been SBT’s core business for over 28 years since its establishment in 1993. It is one of the leading companies in the sector with 3 national offices in Japan and 33 offices in Japan. abroad for the export of used vehicles to more than 150 countries. the world.

www.sbtjapan.com

About NTT Communications

NTT Communications solves global technological challenges by helping enterprises overcome the complexity and risks of their ICT environments through managed IT infrastructure solutions. These solutions are backed by our global infrastructure, including leading tier 1 global public and private networks spanning over 190 countries / regions and over 500,000 m2 of the world’s most advanced data centers. Our global professional services teams provide the advice and architecture for the resiliency and security required for your business to succeed, and our scale and global capabilities in the tech world are unmatched. Combined with NTT Ltd., NTT Data and NTT DOCOMO, we are NTT Group.

www.ntt.com | Twitter @ NTT Com | Facebook @ NTT Com | LinkedIn @ NTT Com



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The tender for the Afyon castle cable car will take place with the passenger guarantee https://nowwashyourhands.com/the-tender-for-the-afyon-castle-cable-car-will-take-place-with-the-passenger-guarantee/ https://nowwashyourhands.com/the-tender-for-the-afyon-castle-cable-car-will-take-place-with-the-passenger-guarantee/#respond Sun, 10 Oct 2021 16:25:42 +0000 https://nowwashyourhands.com/the-tender-for-the-afyon-castle-cable-car-will-take-place-with-the-passenger-guarantee/ The call for tenders for the cable car for Afyon Castle will be made with the passenger guarantee A call for tenders will be launched for the construction of the cable car to Afyonkarahisar Castle. The company that wins the tender will be guaranteed 140 passengers per year. Additionally, it is not known whether the […]]]>
The call for tenders for the cable car for Afyon Castle will be made with the passenger guarantee

A call for tenders will be launched for the construction of the cable car to Afyonkarahisar Castle. The company that wins the tender will be guaranteed 140 passengers per year. Additionally, it is not known whether the project will damage the historic texture.

At the October council meeting of Afyonkarahisar Municipality, it was decided to set up a guaranteed cable car system for passengers to Afyonkarahisar Castle. The CHP and IYI board members voted against the project, which guaranteed 140 passengers per year, saying: “We are not against the cable car, we are against the passenger guarantee”; however, the proposal was accepted by majority vote.

According to the news from Berkay Sağol from Birgün, 140 thousand 11 people per month and at least 666 people per day are expected to use the cable car, which is guaranteed for 388 passengers per year. It is still unclear whether the construction of a cable car to the castle, which is 226 meters high and has 701 steps, will damage the historic texture.

COMMERCIAL FACILITY TO BE CONSTRUCTED IN KALE

At the assembly meeting, the construction of daily and commercial facilities in the area of ​​the cable car substation under the “Afyonkarahisar Castle Landscaping Project” was also accepted. It is indicated that the castle, which was used for defense purposes during the Hittite, Roman, Byzantine and Seljuk periods, could be damaged due to commercial facilities to be built as part of the project.

The mayor of Afyonkarahisar, Mehmet Zeybek, said the following about the cable car project during the assembly: “About 4 companies will bid for the tender. It’s a big project. We will give the right of use for 25 years. If there is no bidder, we will do it ourselves with the means of the municipality.

On the other hand, it was stated during the meeting that the charge for the cable car service would be between 20 and 25 TL.

“AFYONL HAS NO MONEY TO PAY TO THE Gangs”

CHP Afyon Provincial President Yalçın Görgöz said: “As CHP we say that the cable car should be built for the promotion of Afyon, but there should be no guarantees for the passengers. It is said that 140 passengers will be guaranteed annually. I ask the officials of the municipality: How did you determine the guarantee of 140 passengers per year? Who did you consult? If these goals are not met, how will you explain this loss to the public? “

Görgöz, who wants council members who approved the project to pay full losses if the project is damaged, said: “Ditch this guaranteed cable car service to passengers. You install the cable car, but remove the passenger guarantee phrase. “The people of Afyon don’t have the money to pay your gangs,” he said.

ENDED THE ZAFER AIRPORT SCANDAL

The provincial president of the CHP, Görgöz, also reminded the public of the damage caused by the passenger guarantee given for Zafer airport. The airport in question was put into service in 2012 with the Build-Operate-Transfer model to serve the provinces of Kütahya, Afyon and Uşak. The number of passengers guaranteed to the company IC İçtaş İnşaat, which built the airport, could never be reached. For example, 8 passengers used the airport in the first 5 months of this year; however, the guaranteed number of passengers is 725 thousand 878. Consequently, the State will pay 488 million 4 thousand euros to the company.

The 1 million passenger guarantee given to the company last year also failed, and only 16 passengers used the airport. A guarantee payment of 645 million 6 thousand euros was paid to IC çtaş İnşaat.


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Top Reasons Why A Mortgage May Be Denied After Prior Approval https://nowwashyourhands.com/top-reasons-why-a-mortgage-may-be-denied-after-prior-approval/ https://nowwashyourhands.com/top-reasons-why-a-mortgage-may-be-denied-after-prior-approval/#respond Thu, 07 Oct 2021 15:00:19 +0000 https://nowwashyourhands.com/top-reasons-why-a-mortgage-may-be-denied-after-prior-approval/ Meghan webber | Association du Grand Lansing des AGENTS IMMOBILIERS® When you’re ready to buy a home, one of the first things you need to do is get pre-approved for a mortgage. A pre-approval letter is essential, especially in a competitive market, because it shows sellers that you are serious about buying a home and […]]]>

When you’re ready to buy a home, one of the first things you need to do is get pre-approved for a mortgage. A pre-approval letter is essential, especially in a competitive market, because it shows sellers that you are serious about buying a home and that you have the financial means to do so.

While having pre-approval will make you more competitive, it’s important to remember that this is not a guarantee that you will receive funding. During the application process, your lender will look at certain factors such as your credit rating, income, job, debts, and assets. If any of these criteria change between pre-approval and closing, your loan could be in jeopardy. Here are some reasons why it could happen.

A negative blow to your credit

You don’t need perfect credit to get pre-approved, but you will need to meet your mortgage credit requirements as well as the credit guidelines set by your lender. For this reason, it is important that a buyer fully understands the impact of credit scores on mortgages.

“The credit report obtained during pre-approval is generally valid for 120 days,” said Jim Thelen, mortgage originator at Lake Michigan Credit Union. “If you can’t find a house and close within that time frame, we’ll have to write a new report. If you’ve been late with payments, closed accounts, or incurred new debt during this time, it could impact your mortgage score and approval.

An increase in debt

While your lender does not usually issue a new credit report within 120 days, most lenders still do a “soft draw” before issuing a close authorization. The reason is not to get a new credit score, but to see if the borrower has incurred additional debt that could affect their debt-to-income ratio (DTI).

“Let’s say after being pre-approved, a buyer’s car breaks down and they have to buy a new one,” Thelen said. “If they take out a new loan and that loan raises their DTI above the authorized limit, they may no longer be eligible. However, if the borrower is simply exchanging one auto loan for another, that shouldn’t be a problem as long as the monthly payments are similar.

Thelen says a common problem he sees is that buyers take on new debt for things like furniture or appliances for their new home, but he strongly suggests postponing until past the closing date.

“Depending on your overall financial situation, this doesn’t necessarily mean you will be refused, but it is something the underwriter will consider before issuing a closing approval, which could delay closing,” he said. .

A job change

To be approved for a mortgage, you will need to have a history of stable and reliable employment. Changing jobs during the home buying process can potentially lead to closing delays and in some cases can result in your loan being denied. However, the impact of a job change depends on a number of factors, including your lender’s criteria, your mortgage program requirements, your financial situation, and the details of your new job.

Lenders are less likely to balk at a job change if it is in the same industry and comes with a similar or higher salary. For example, if you are a nurse and take a job at a new hospital to do similar tasks, it probably won’t be a problem until there is a drastic change in salary. However, if you make a complete career change or move from a paid position to one based on commission, it is difficult for your lender to judge your future stability.

Other potential problems

Another important “change” to avoid during this time is any undocumented transactions in your bank account. For example, a large cash deposit can be a big red flag, unless you can clearly document where the funds are coming from.

“Income from your employer or an IRS tax refund will not attract much attention because the reference of these deposits is clearly stated,” Thelen said. “However, if your grandparents donate $ 8,000 to you for your down payment, you can’t just arbitrarily deposit the money into your account and call it voucher. There must be documentation.

Why is this important? Because when a lender notices a large cash deposit in your account, they need to make sure that you haven’t taken on any new loan or debt, have no unreported income, and have acquired the funds from an acceptable source.

Since any type of “change” can lead to potential problems during the mortgage process, most experts advise borrowers to try to maintain the status quo from pre-approval to closing. However, sometimes change is inevitable, and if so, Thelen says borrowers should immediately contact their lender to see how their loan might be impacted.

“The educational part is so important,” he said. “I want borrowers to fully understand their mortgage needs and be aware of the potential pitfalls. This is why my first consultations can sometimes last a few hours. I want to establish good communication and a trusting relationship with my clients so that when problems arise or questions arise, they call immediately and we can work to keep things on track.

For a list of reputable local lenders, visit the Greater Lansing Association of REALTORS® website at www.lansing-realestate.com.


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Jio, Airtel, Vodafone Idea and telecom operators are relieved as center takes big step https://nowwashyourhands.com/jio-airtel-vodafone-idea-and-telecom-operators-are-relieved-as-center-takes-big-step/ https://nowwashyourhands.com/jio-airtel-vodafone-idea-and-telecom-operators-are-relieved-as-center-takes-big-step/#respond Thu, 07 Oct 2021 06:35:12 +0000 https://nowwashyourhands.com/jio-airtel-vodafone-idea-and-telecom-operators-are-relieved-as-center-takes-big-step/ New Delhi: The Indian government has reduced the performance and financial bank guarantee requirements of telecommunications operators to 20 percent of the current amount. The telecoms ministry announced its decision on Wednesday as part of the reform measures announced last month for the sector. According to a notification from the DoT, while the financial bank […]]]>

New Delhi: The Indian government has reduced the performance and financial bank guarantee requirements of telecommunications operators to 20 percent of the current amount. The telecoms ministry announced its decision on Wednesday as part of the reform measures announced last month for the sector. According to a notification from the DoT, while the financial bank guarantee will remain at Rs 50 crore, Rs 25 crore and Rs 5 crore for telecommunications license holders for the service area of ​​categories A, B and C to be submitted before the signing of the license agreement, the amount of the guarantee (both performance and the financial bank guarantee) will now be 20 percent of the estimated sum payable (license fee for two quarters), according to an IANS report.Read also – AGR case: the Supreme Court grants telecommunications operators 10 years to pay pending contributions, 10% to be paid by March 31, 2021

  • As a result, under the amended standards, the performance bank guarantee requirement for telecom operators will drop to Rs 44 crore from Rs 220 crore mandated under the previous system. The financial bank guarantee (FBG) requirement will also be reduced to nearly Rs 8.8 crore per circle from Rs 44 crore in the previous system, according to the IANS report.
  • The measure is expected to strengthen the liquidity of telecommunications operators and unlock funds that are currently parked in banks to secure guarantees, according to the IANS report.
  • The DoT notification said the proposed changes would not apply to telecom operators in cases where a bank guarantee has been provided due to a court order or those guarantees are in dispute. Bank guarantees from licensees under the corporate insolvency resolution process (CIRP) or in the process of liquidation could also not benefit from lower requirements, according to the IANS report.

The Union cabinet approved in September a relief plan for the telecommunications sector which includes a four-year moratorium on the payment of statutory contributions by telecommunications companies as well as the 100% authorization of foreign investments by the automatic channel. As part of these measures, he also proposed to reduce the bank guarantee requirement of telecommunications operators by 80%, according to the IANS report. Also Read – SC Calls Self-Assessment of AGR Dues “Fraud”, Asks Telecom Companies to Pay All Dues

Also read – BSNL and MTNL will not be closed, efforts are made to revive them: government in Rajya Sabha


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Higher loan limit now available for USDA guaranteed agricultural loans – Mix 94.7 KMCH https://nowwashyourhands.com/higher-loan-limit-now-available-for-usda-guaranteed-agricultural-loans-mix-94-7-kmch/ https://nowwashyourhands.com/higher-loan-limit-now-available-for-usda-guaranteed-agricultural-loans-mix-94-7-kmch/#respond Tue, 05 Oct 2021 14:55:55 +0000 https://nowwashyourhands.com/higher-loan-limit-now-available-for-usda-guaranteed-agricultural-loans-mix-94-7-kmch/ WASHINGTON, October 4, 2021 – The United States Department of Agriculture (USDA) announces that a higher loan limit will be available to borrowers seeking a secured farm loan from October 1, 2021, from 1.776 million dollars to 1.825 million dollars. “Agricultural loans are essential for our clients’ annual operating and family living expenses, emergency needs […]]]>

WASHINGTON, October 4, 2021 – The United States Department of Agriculture (USDA) announces that a higher loan limit will be available to borrowers seeking a secured farm loan from October 1, 2021, from 1.776 million dollars to 1.825 million dollars.

“Agricultural loans are essential for our clients’ annual operating and family living expenses, emergency needs and cash flow,” said FSA administrator Zach Ducheneaux. “Raising the guaranteed loan limit will allow the FSA to better meet the financial needs of producers as natural disasters and the pandemic continue to impact their operations. “

FSA agricultural loans provide access to finance for a wide range of producer needs, from securing land to financing the purchase of equipment. Secured loans are funded and managed by commercial lenders. FSA provides up to 95% guarantee against possible financial loss of principal and interest. Secured loans can be used for both agricultural property and operating purposes.

During fiscal year 2021, FSA experienced continued strong demand for secured loans. FSA has committed more than $ 3.4 billion in secured farm and farm property loans. This includes almost $ 1.2 billion for beginning farmers. The number of secured borrowers has increased by 10% to more than 38,750 farmers and ranchers over the past decade. The FSA expects growing demand for agricultural loans to continue in fiscal 2022.

Extension of the disaster reserve

USDA has additional support available to growers given recent outbreaks of the COVID-19 Delta variant and has extended the availability of COVID-19 Disaster Set-Aside (DSA) for installments due until January 31, 2022 Additionally, the FSA will authorize a second AED for COVID-19 and a second AED for natural disasters for those who have had a first COVID-19 AED. Requests for a COVID-19 AED or second AED must be received no later than May 1, 2022.

Last year, the FSA expanded the use of the DSA. Normally used in the aftermath of natural disasters, the DSA can now allow farmers receiving USDA agricultural loans who are affected by COVID-19 and determined to be eligible, to set aside their next payment. The freeze payment deadline is postponed to the final loan maturity date or extended up to twelve months in the case of an annual operating loan. Any principal set-aside will continue to accrue interest until it is repaid. This will improve the borrower’s cash flow in the current production cycle.

More information

Producers can explore the options available on all FSA loan options at fsa.usda.gov or by contacting their Local USDA Service Center. Service Center staff continue to work with agricultural producers by phone, email and other digital tools. Due to the pandemic, some USDA Service Centers are open to a limited number of visitors. Contact your service center to schedule an appointment in person or by phone. Additionally, more information related to USDA’s response and producer relief can be found at farmers.gov/coronavirus.

The USDA touches the lives of all Americans every day in so many positive ways. In the Biden-Harris administration, the USDA is transforming the American food system with a greater emphasis on more resilient local and regional food production, fairer markets for all producers, ensuring access to healthy food and nutrients in all communities, creating new markets and sources of income for farmers and producers using climate-smart food and forestry practices, making historic investments in clean energy infrastructure and capacity in rural areas America, and a commitment to equity across the Department by removing systemic barriers and creating a workforce that is more representative of America. To learn more, visit www.usda.gov.


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Unique opportunity for sisters who own a home to accept requests https://nowwashyourhands.com/unique-opportunity-for-sisters-who-own-a-home-to-accept-requests/ https://nowwashyourhands.com/unique-opportunity-for-sisters-who-own-a-home-to-accept-requests/#respond Mon, 04 Oct 2021 21:04:33 +0000 https://nowwashyourhands.com/unique-opportunity-for-sisters-who-own-a-home-to-accept-requests/ REDMOND, Ore. (KTVZ) – The First Story nonprofit is once again offering a homeownership boost to Sisters residents through a unique partnership with Hayden Homes and NeighborImpact. The homes will be built by Hayden Homes in their community of McKenzie Meadows and sold under First Story’s 30-year interest-free loan program. To become eligible to apply […]]]>

REDMOND, Ore. (KTVZ) – The First Story nonprofit is once again offering a homeownership boost to Sisters residents through a unique partnership with Hayden Homes and NeighborImpact. The homes will be built by Hayden Homes in their community of McKenzie Meadows and sold under First Story’s 30-year interest-free loan program.

To become eligible to apply for housing, applicants must first complete the Home Buyer’s Education Course and Home Buyer’s Advice session through NeighborImpact. Virtual courses are available monthly from October. Completion of the Home Buyers Education Class is not a guarantee of an interview or selection for housing.

“We are proud to support NeighborImpact, with a donation of $ 5,000, to help ensure their services continue to be accessible to community members,” said Deborah Flagan, Vice President of Community Engagement at Hayden Homes. “We recognize that there are barriers that can prevent families from accessing homeownership and believe this homebuyer training course provides a welcoming environment for all families to learn more about the home buying journey. ‘a home, including valuable tools for cultivating and maintaining financial well-being. “

First Story, Hayden Homes, Neighborlmpact and the City of Sisters started this special project in 2019 to provide affordable homeownership opportunities in Sisters. Six families, graduates of NeighborImpact’s HomeSource program, were welcomed home with special key ceremonies.

In 2022, homes will be available with three bedrooms, two bathrooms and a two-car garage. The homes will be sold ready to move in with appliances, washer and dryer, blinds and a landscaped yard. no home loan program with down payment.

“The zero down payment requirement, along with the fact that credit scores are not a determining factor, encourages many people to apply who would normally be limited due to these mortgage thresholds,” said Claire Duncan, Principal Executive of First Story. “First Story is a testament to our community’s spirit of generosity and the positive results we get when we work together on creative solutions.

For more information, visit firststory.org/own-a-home.

About the first story

First Story is a 501c3 non-profit organization dedicated to providing affordable homeownership opportunities to hard-working families in Oregon, Washington State, and Idaho. First Story’s integrated approach to affordable housing empowers families to own property while maintaining dignity, respect and encouraging inclusion. Founded in Redmond, Oregon in 1998, First Story has helped more than 10,000 families with new home construction and financial support. For more information visit: www.FirstStory.org.

About Hayden Houses

Established in Redmond, Oregon in 1989, Hayden Homes has supplied more than 20,000 new homes to price-conscious, value-oriented buyers in underserved secondary markets across Washington, Oregon and Idaho. Hayden Homes continues to be the largest private builder of new homes in the Pacific Northwest.

Hayden Homes exists for Give as you go ™, so together we build a strong community and lead fulfilling lives. Hayden Homes has contributed $ 3.25 billion to local economies and has created more than 69,000 jobs since the inception of the company. Hayden Homes supports philanthropic efforts in the communities they build in and has contributed over $ 24.2 million in charitable giving with the flagship product of their giving through the 501 (c) (3) nonprofit, First story. To date, First Story has provided more than 90 deserving and capable families across the Pacific Northwest with safe, healthy and affordable housing and a first step towards financial freedom. The Hayden Homes brand family of companies includes Simplicity by Hayden Homes, Size wise houses and Hayden Houses, all offering an unrivaled selection of opportunities for those looking to buy a new home.


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