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Bankers when offering banking facilities would prefer that the company provide certain security/collaterized assets However, in the event of an UNSECURED commercial loan, we will often then see a Negative Pledge Covenant letter being issued. So what is this negative pledge clause letter and what are its purposes? Firstly, a negative pledge is a provision in a contract which prohibits a party [...] |
FCCA,CA(MIA)with more than 26 years of post-qualifying working experiences. Previous working stints with one of the big accounting four, Regional GFC & Group Treasurer in a group of Malaysian and Group CFO in Singapore public listed concern.
Also author to another very popular free educational accounting cum finance blog: http://basiccollegeaccounting.com under the branding of College Accounting Coach. |
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