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50%-100% Interest Free Turnkey Finance And Construction by obawemimo: 12:06pm On Feb 02, 2011 |
Sir, 50%-100% INTEREST FREE TURNKEY FINANCE AND CONSTRUCTION We write to confirm our willingness to work with you subject to the following conditions. Also note that these conditions serves as precedence for a full technical meeting. 1.Registered Land Title 2.Identification of specific project(s), 3.Soft and Hard copies of the Full Working Drawings (Architectural/Structural, Mechanical & Electrical drawings respectively) in a readable format and a comprehensive material and labour schedules 4. Approved building permits. 5.Confirmation of your 20%-50% advance payment (25%/25% or 30%/20% mile stone payments in the case of 50%/50% structure) in writing, and a Bank Guarantee (BG) would be required upon completion - when the project is being handed over- to cover contractor’s own 50%-100% interest free financing, 6.Bill of quantities BoQ- takes care of the breakdown of the total estimates of the cost of the project 7.The contractor shall provide an Advance Payment Guarantee (APG) and a Performance Bond as comfort, for all payment received from the property owner 8. We only undertake project(s) from N1Billion or $10Million and above or multiple of projects adding up to the above amounts. 9.We charge an arrangement /facilitation fees of 7% of the cost of construction. We look forward to a mutually beneficial business relationship. Note that the body is not a partner with the owner nor interested on how much profit the owner of the project/sponsor makes. It is also of note that the project owner/sponsor is not expected to pay a dime upfront. If your project(s) in the pipeline satisfy the checklist above, let's talk. Also, find attached documents that give further details on this. Thank you, Oba' Adebola Aina 08099210000 TRANSACTION DYNAMICS FOR THE 50%-100% FINANCING OPTION. This option is designed for public (federal & state government) and private sector-mortgage banks, commercial Banks & its subsidiaries, Real Estate Development firms, corporate institutions, cooperatives societies of multinational corporations and High Net-worth individuals. This financing option is suitable for construction of offices complexes, residential projects like (apartment/estate), schools/ universities, Hotels, Hostels and Hospitals. The minimum allowable transaction value is N1Billion Naira with an arrangement fee of 7%. (A) 100% Finance structure In this arrangement, the promoters (The Client) would not be expected to put up any advance cash contribution to its project; however the promoter (The Client) shall provide a Bank Guarantee (BG) to the financing contactor. The financing contractor shall be responsible completing the project as agreed. This financing structure is suitable for uncompleted/abandon projects. Target clients are Government (Federal & state), Mortgage Banks, Commercial Banks & its subsidiaries, Real Estate development firms, Cooperatives of Multinational firms etc. (B) 70%-80% financing structure- New projects. This arrangement requires the promoters (The Client) to pay up only 30%-20% advance cash contribution of the total project cost, while the financing contractor shall finance the balance 70%-80%requirement to complete the project. The promoters (The Client) shall receive a performance bond and an advanced payment guarantee (AGP) of the 30%-20% received by the financing contractor. The financing contractor would require a bank Guarantee (BG) of the financed portion of 70%-80% from project promoters (The Client). Target clients are government (Federal & State), Mortgage Banks, commercial Banks & its subsidiaries, Real Estate development firms, cooperatives of Multinational firm etc- For luxury, Mid-class and Mass housing projects. (C) 50%-Financing structure –New projects This arrangement requires the promoters (The Client) to come up 50% in two mile stone payments of either (25%/25% or 30%/20%) advances cash contribution of the total project cost, while the financing contractor shall finance the balance 50% required to complete project. The promoters (The Client) shall receive a performance bond and an advanced payment guarantee (AGP) of the 50% (25%/25% or 30%/20%) received by the financing contractor. The financing contractor would require a bank Guarantee (BG) of the financed portion of 50% from project promoters (The Client). Target Clients are government (Federal & States), Mortgage Banks, Commercial Banks & its subsidiaries, Real Estate development firms, Cooperatives of Multinational firms etc.- For luxury Mid-Class and Mass housing Project .- Responsibilities of Financing Contractor • The Financing Contractor shall be willing to provide a maximum of 50%-100% interest free funding for all projects undertaking as long as the project is on a turnkey basis. • The above amount shall cover all finishing materials and other item that the project sponsors’/ Developers’ Bank Guarantee fail to cover. • The project sponsors/Developer shall guarantee full re-imbursement to the financing Contractor upon completion of the development either by way of a bank guarantee or standby letter of credit. • The Financing Contractor shall provide an Advance payment Guarantee for any fund released to them by the project sponsors/Developer. • The Financing Contractor shall issue a performance bond to the project sponsors/Developer upon signing of all relevant contractual agreements. • The Financing Contracting shall ensure that the project is completed within the agreed time frame usually less than industry average for a project of the same scope. Responsibilities of Project Sponsors/Developer • The project Sponsors/Developer shall provide a minimum of 20%-30% or 50% (either in 25%/25% or 30%/20% to make up the 50% please refer to definition A,B and C ) of the total of the project to the financing Contractor either in whole or in mile stone subject to agreement by both parties. This payment shall be used for purchase logistics of materials (cement, iron, rods sand, granite etc) and labour locally. • The project Sponsors/Developer shall undertake to reimburse the Financing Contractor upon completion of the project or at a set time mutually agreed by both parties via a BANK GUARANTEE. • The project Sponsors/Developer shall be responsible for all necessary building approvals other fees required by the local laws of the land pertaining to construction activities such as construction permits, development levies, NEPA charges/bills, Ministry of Environment fees, signage fees etc. • The project Sponsors/Developer shall provide all drawings and bill of quantities BOQ about his/her project. TRANSACTION DYNAMICS FOR MASS HOUSING FINANCING UP TO 70% OF PROJECT COST. This option is design for the public sector- Federal and State Governments and their Agencies/Subsidiaries. The minimum acceptable number of unit under this option is 500 houses. The acceptable transaction value under this option is $10Million dollars (subject to discussion) with an arrangement fee of 7%. At the moment, we can extend 80%-100% construction and funding package for some specific projects on a turnkey basis. RECAP Registered land Title Soft and hard copies fully working drawing (Architectural, Structural and M & E drawings respectively) in a readable format. Approved building permits Bill of quantities BOQ Evidence of 20%-50% equity mile stone contribution and Bank Guarantee for the financial part upon completion from promoter. Contractor shall provide comfort through an Advanced payment Guarantee (APG) and a performance bond to promoter for all payment received. We look forward to your reply; additional information is available on request. |
Re: 50%-100% Interest Free Turnkey Finance And Construction by JerryUI(m): 8:34am On Sep 04, 2014 |
Good day Mr. Oba Aina, Please kindly send your soft copy of your profile to my email address: jerryui10@yahoo.com Thank you |
Re: 50%-100% Interest Free Turnkey Finance And Construction by JerryUI(m): 8:35am On Sep 04, 2014 |
Good day Mr. Oba Aina, Will you please kindly send your soft copy of your profile to my email address: jerryui10@yahoo.com Thank you |
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