LoanTrade Inc.
 |
 |
$ 9.3 Million
Charged-Off
Visa/MasterCard Portfolio And
Chapter 13s/7s Portfolio with 2001
Forward
Flow NATIONWIDE
LoanTrade
Inc. is pleased to exclusively present our client’s offer to sell the
above referenced portfolios. The
Seller is a commercial bank located in the Southeast. A vast majority
of charged-off accounts have been referred to no more than one outside
third party collection agency. The
Seller’s representations and warranties are comprehensive and include
a 90-day put-back period. There are no resale restrictions. Data integrity appears good. BANKO scrub performed in November 2000.
THIS PORTFOLIO IS OFFERED BY POOL OR IN ITS ENTIRETY
as follows:
| POOL |
TOTAL |
COUNT |
PRIMARY
STATES |
AVE
CO DATE |
|
Charge-Off
Pool (Credit Losses) |
$
4,165,592 |
1,408 |
GA
FL TX CA |
6-98 |
|
Chapter 13s Filed Bulk
Pool |
$
461,242 |
132 |
GA
TX CA FL |
9-99 |
|
Chapter 13s Dismissed
Bulk Pool |
$
165,573 |
53 |
GA
TX CA FL |
6-98 |
|
Chapter
7s Bulk Pool (1) |
$
2,157,659 |
529 |
GA
TX CA FL |
9-99 |
|
$
420,000 |
NA |
GA
TX CA FL |
2001 |
|
|
Chapter
7s Flow Pool (3) |
$
1,980,000 |
NA |
GA
TX CA FL |
2001 |
|
Total
|
$9,350,066 |
2,122 |
|
|
(1)
Filed and Discharged (2) Chapter
13 totals above represent a $35,000 monthly flow beginning Jan01 through
Dec01 (3) Chapter 7 totals above represent a $165,000 monthly flow beginning
Jan01 through Dec01
THIS IS A COMPETITIVE SEALED BID
OFFERING:
PRE BID DUE DILIGENCE: November 21st through December 11th
BID DATE: December 12, 2000
FUNDING DATE:
December 15, 2000
Pre-Bid
Due Diligence
Potential
buyers should sign and return the attached Confidentiality Agreement
in order to receive a Bid Package containing a Data File with reports,
Seller’s Loan Sale Agreement, Bid Form, and Bid instructions.
FOR FURTHER INFORMATION:
Please visit our web site at: http://www.loantrade.com
LoanTrade
Inc.
370 W. Camino
Gardens Blvd.
Suite 300 Boca Raton, FL 33432
Attn: Tim
Kirkpatrick Phone: (561)
417-5002 Fax: (561) 417-5662
tim@loantrade.com
Disclaimer
The terms,
conditions, and information presented by LOANTRADE in connection with
this transaction were provided to LOANTRADE by sources we consider to
be reliable, however, LOANTRADE makes no representation as to the accuracy
of this information. LOANTRADE cannot guarantee the performance
of the Seller. Seller may reject
any and all bids. Seller may
reduce portfolio up to the date of Seller's acceptance of Buyer's offer
to purchase.
-------------------------------------------------------------Detach
here---------------------------------------------------------------
CONFIDENTIALITY AGREEMENT FOR REVIEW
OF ASSETS
$9.3 Million Southeast Charged-Off Credit Cards and Bankrupt Accounts
LoanTrade Inc. (“LoanTrade”) in its capacity as broker for its Clients
("Seller") will from time to time make available portfolios
of certain assets ("Assets") for sale to potential investors
("Investor" or Investors").
In connection therewith, LoanTrade will permit the review and
inspection of documents, files and other information ("Confidential
Information") relating to the Assets upon receipt by LoanTrade
of this Confidentiality Agreement signed by an Investor. Confidential Information may include economic, commercial, marketing,
financial and customer information that is confidential and/or proprietary
in nature and in exchange for the above information and other good and
valuable consideration, the parties agree:
Section 1. PURPOSE.
The Investor agrees that this Confidentiality Agreement is executed
for the benefit of LoanTrade and Seller with respect to whose Assets
Confidential Information is provided.
Investor's review and inspection of the Confidential Information
shall be for the sole purpose of determining whether or not to submit
a bid to purchase some or all of the Assets.
Investor agrees that its review and inspection shall be on its
own behalf and not as an agent, representative or broker of any undisclosed
party.
Section 2. NON-DISCLOSURE
AND USE OF CONFIDENTIAL INFORMATION.
(a) Investor agrees
that, except as set forth below, all Confidential Information shall
be used by Investor solely for the purpose stated in Section 1 hereof. Investor further agrees not to disclose any
of the Confidential Information, including the name of Seller without
prior written consent of LoanTrade to any third party other than to
(i) its employees, officers, and directors (including those of its affiliates),
(ii) its agents and representatives, including attorneys, accountants
and financial advisors, (iii) insurance and reinsurance firms, or (iv)
credit rating agencies (collectively, "Representatives") (A)
whose review is necessary for proper evaluation by Investor, (B) who
are informed by Investor of the confidential nature of Confidential
Information and (C) who are provided with a copy of this Agreement and
agree in writing to be bound by the terms of this Agreement.
(b) The term "Confidential Information"
shall not include information which: (i) is already known to Investor
from other sources known by Investor not to be subject to any confidentiality
obligations (ii) is or becomes generally available to the public other
than as a result of a disclosure by Investor or any of its Representatives
or (iii) is required to be disclosed by law or by regulatory or judicial
process.
(c) In the event Investor or any of its Representatives
fails in any respect to comply with its obligations under this Agreement,
Investor shall be liable to LoanTrade and Seller for breach of this
Agreement. In addition, LoanTrade
may in its discretion refuse to consider a bid from the Investor on
the Assets.
(d) Nothing in this Agreement shall preclude the
exercise of any other right, power or remedy available to LoanTrade
or Seller under law or in equity. No
forbearance, failure or delay in exercising any such right, power or
remedy shall operate as a waiver thereof or preclude its further exercise.
Section 3. DUPLICATION. Investor shall not make any reproductions other that handwritten summaries
or notes and self-generated computer records, of any item of Confidential
Information without prior written consent of LoanTrade. If Investor decides not to submit a bid or
if the transaction is otherwise not consummated by Investor, Investor
and its Representatives will immediately destroy all Confidential Information
and all copies, reproductions, computer records, notes, summaries, analyses,
or extracts of Confidential Information in Investor's possession or
in the possession of any of its Representatives.
Upon request of LoanTrade, Investor will certify that the requirements
of this Section have been satisfied.
Section 4. CONTACT WITH DEBTORS AND OTHERS. The Investor agrees not to communicate directly
or though a third party without the written permission of LoanTrade,
with: (a) any debtor, guarantor, debtor's or guarantor's accountant
or attorney relative to any Asset, (b) employees or officers of the
Seller, or (c) regulatory authorities responsible directly or indirectly
for the federal, state, or local supervision of Seller.
Section 5. TERMINATION.
The restrictions in this Agreement shall terminate as to any
Assets acquired by Investor provided, however, that any claim by LoanTrade
or Seller based on a breach of this agreement occurring prior to such
acquisition shall survive the acquisition unless waived by LoanTrade
or Seller, as applicable, in writing. The terms and conditions of this Agreement
shall remain in full force and effect as to any Assets requested for
review by, but not acquired by Investor.
Section 6. ATTORNEY FEES. Either party may enforce its rights, powers and remedies accorded hereunder
by suit or suits in equity or in law, whether for specific performance
of any obligation, condition, covenant or agreement contained herein,
or for damages, or by equitable remedy as it may deem advisable to protect
and enforce its rights, power and remedies set forth herein and, the
party that does not prevail shall be liable for all the prevailing party's
expenses and costs, including but not limited to reasonable attorney's
fees, associated herewith.
Section 7. HOLD HARMLESS PROVISIONS. The terms, conditions, and other information
presented by LoanTrade in connection with this transaction were provided
to LoanTrade by Seller. LoanTrade makes no representation as to the
accuracy of this information. LoanTrade cannot guarantee the performance
of Seller.
Section 8. INDEMNITY. Investor
shall protect, defend, indemnify and hold harmless LoanTrade and Seller,
their partners, officers, directors, agents and representatives against
any and all claims, demands, actions, damages or liability (including
attorney's fees) of any kind or nature, resulting from, arising from
or occasioned in whole or in part by the negligence of either you or
a Representative in use of the Confidential Information.
Section 9.
ENTIRE AGREEMENT. This Agreement represents the entire agreement between Investor,
LoanTrade and Seller relating to the treatment of Confidential Information
heretofore or hereafter reviewed or inspected by Investor or its Representatives.
IN WITNESS HEREOF,
a duly authorized representative of Investor has executed this Agreement
as of the date set forth below.
Company Name:
____________________________
By: ____________________________
Printed Name & Title:
____________________________
Date of Execution:
____________________________
Street Address:
____________________________
City: ____________________________
State: ____________________________
Phone#:
____________________________
Fax#: ____________________________
Email: ____________________________
Return to LoanTrade
Inc.: 370 W. Camino Gardens Blvd., Suite 300, Boca Raton, FL 33432
FAX (561) 417-5662
TELEPHONE (561) 417-5002