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ACSELORE Issue 1 Jul. ,24
Entity P is able to send amount of funds, finance, money to applicant Entity C when enquiries and application, which may be to follow, result in 'agreement' and success. Amount of future-date advance is in 1 of up to 6 currency.
Amount allocate is put in to interest-bearing account or holding, attractive rate on offer, interest may be pay 5 to 8 days after 'cleared' funds which are full-requite is achieve in the holding, in the option of monthly pay of interest. When option of interest pay quarterly (3 m'th), interest may be pay 12 to 18 days after for first payment.
In the 2 cases, payment is to nominated recipient and is not accumulate to account or holding. No additions to the account or holding are allowed and interest continues to be pay to recipient, then on close of the holding.
The amount allocate is then forward to Entity C for the whole or part of funds or finance which have been agree at the start with Entity P and are subject to the borrow, loan or credit-line advance normal conditions and re-payment frequency and costs through the notified term. Costs and the re-payments may be amounts advantageous to Entity C.
Notify to Entity C information including all rates and costs are fixed and non-variable and advance is to be receive no less than 14 day and no more than 6 month after 'agreement' at the start.
O.L
'Amount allocate' is identical to 'advance' amount and may be handled by a deposits or savings department of same bank or lender.
'Interest-bearing account' is when a supplement is award or a known estimated return is achieve. Account or holding can be in another country or state, region or province and 'amount allocate' can be hold in up to 3 separate portion. A portion can be hold in a different currency from currency for the 'future-date advance' and may be not put.
'Nominated recipient' is known, specify and agree with Entity P and receives payments, which may be send to him in another country, and are not a direct pay of interest. Recipient can be independent of, have no involve in, or use of the 'advance' amount. Interest at zero rate is apply to funds receive and any part of them may be pay back voluntarily by the recipient up to 6 of 3 m'th period from start day.
day - 24h, monthly - 30-31d, 3 m'th - 91-92d
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Situations in practical use of describe for Saferema
After a first request for allocate of a small amount which is nonacceptable, continue the allocating process or running of a program. Requests can arrive to process other smaller amounts from the same or other requestor.
In a request can be indicator for use of reserve or top/up facility and can be present on the first and second request arrive from a requestor within a short period or 20 minute. Reserve or top/up facility can be apply on 1 or 2 occasion in a day or similar period by a clerk or admin. worker after contact with a supervisor.
The allocating processes or a program run can terminate for different reasons,
successive nonallocate for a notified number of occur
nonallow for allocating
elapse of agreed period of time
short period to the end of working hours
impractical amount remaining of revise referencing amount
short period to the apply of reserve or top/up amount
nonforesee circumstances
and when possible should be a write, print or sound record of 1 line or phrase for the amount from separate accounting accurately for all smaller amounts allocated and the amount apply of reserve or top/up.
The process for arriving at a higher amount to use for step 1. of describe for Saferema is available on request. It is intended for capable supervisor, clerk or admin. workers.
Where permitted, a correct and functioning install of procedure in describe for Saferema or relating computer program can attract a charge in local currency close to US dollar 40 to 75 plus local taxes and maintenance is free of charge.
Costs of operating the processes are cover by central funding, or pay for from funds available to a CEO or director, or finance management. A request for allocation or a return of a small amount is not to attract a fee or charge.
Penalty or fine can be apply for using processes, accuracy of records, playing the system, requesting amounts, which is nonacceptable after decide by a supervisor and a manager. Where permitted, penalty part or full amount can be reclaim from a person.
Describe is by T.D.Cutler on 24 October 2020.
