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Maximum Out-of-pocket Expense
Independent contractor
Bank and Institutional Related Charges
Insurance Charges
Home > Investor Relations > Earning Protection > Expenditure Incurred > Insurance Charges

Insurance Charges

In the event HD Faculty™ engages the services of a trade financial institution, governmental agency or otherwise appointed such entity to provide "Insurance Coverage" for its accounts receivable in respect to the services that are rendered under an executed agreement, the Client agrees that it shall pay all fees and charges, including but not limited to attorney and bank charges, and comply with the set terms and in the fulfilment of the stated conditions of the respective insurer or underwriter. Notwithstanding, such payment may be required to be included in the Project overall cost.

Interpretation. For the purposes of Section R, paragraph 5, Bank and Institutional Related Charges, above, the expression “Insurance Coverage” means the credit enhancement and risk reduction facility or facilities set-up to prevent HD Faculty™ and its participating financial institution, providing financial assistance to undertake interim expenditure, from exposure that is structured to protect HD Faculty™'s balance sheet from sudden loss, whilst removing the responsibility of the participating financial institution or creditor from continuously monitoring and determining the status or value of the given receivable.

 

 

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