Loans
LETTER OF APPLICATION
FOR INTERNATIONAL LOANS
WHEN THE AEE LTD RECEIVES A COMPLETE LETTER OF APPLICATION FROM THE BORROWER'S ATTORNEY OR FROM AN ASSOCIATE, WILL REPLY DIRECTLY TO THE BORROWER'S ATTORNEY WITH INFORMATION NEEDED TO FILE FOR THE LOAN. IF BORROWER DOES NOT HAVE AN ATTORNEY, THE AEE LTD., MAY BE ABLE TO PROVIDE ASSOCIATION TRUST ATTORNEY TO WORK WITH BORROWER. NO CONFIRMATION OF FUNDS WILL BE GIVEN TILL COMPLETE INFORMATION HAS TO BEEN SUBMITTED TO LENDER. WITH 10 to 45 BANKING DAYS THEREAFTER, THE LENDER'S BANK WILL QUOTE AN INTEREST RATE AND CONFIRMATION OF FUNDS TO THE GUARANTEE BANK OR CLOSING BANK.SOME BORROWERS INSIST THAT THE LENDER OFFERING TO MAKE THE LOAN REQUESTED CONFIRM EITHER IN WRITING OR BY TELEX THAT THE DESIRED LOAN FUNDING IS AVAILABLE TO THEM BEFORE THEY WILL SUBMIT THE FORMAL PAPERS REQUIRED TO APPLY FOR THE LOAN.
NO LENDER ON THE INTERNATIONAL SCENE HAS EVER ISSUED A CONFIRMATION OF FUND AVAILABLITY BEFORE RECEIVING A FORMAL APPLICATION FOR THE LOAN IN QUESTION.
SOME BANKS IN SOME COUNTRIES ALSO INSIST ON ADVANCE CONFIRMATION OF FUND AVAILABILITY BEFORE ISSUING THEIR LOAN GUARTANTEES. SUCH BANKS CANNOT BE USED BY BORROWERS SERIOUS ABOUT OBTAINING THE LOAN WANTED.
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