Acts as a facilitator between the lenders and the borrowers. The agency services depend upon the transaction structure but mainly includes the following:
- Monitoring compliance of pre-execution and post-execution conditions governing terms and conditions of credit facility
- Co-ordinate with Account Bank for timely fund transfer and Security Trustee for security creation
- Interest rate fixation, calculation and payouts
- Review TRA/ Escrow structure, issue instructions to the account bank and carry out duties as defined in the agreement
- Follow up with the borrower for reports / statements / compliance documents for dissemination of information to lenders
- Monitor compliance of insurance and progress of project
- Convening meeting of counter parties in connection with waiver / modification / default in the facility terms