Credit Providers Sample Clauses

Credit Providers. The Mongolian Banking Law of 1991 established a two-tier banking system with Mongol Bank becoming the central bank. The law identified the rules for supervision by the Mongol Bank and reporting by the commercial banks. From the former monolithic state bank, five commercial banks were formed. One year later, nine more banks were established. In 1994, two bank mergers took place and in 1995, the first privately owned bank, Xxxxxx, was established. In the late 1990’s, due to poorly trained management and staff, insider lending, insufficient risk assessment and overall sloppy lending procedures, the banking sector suffered several major blows. Xxxxx were forced to close due to insolvency and withdrawn licenses. Of the 14 commercial banks created during the first two years of the two-tier system, 7 were either closed or liquidated. As a result, trust in the banking sector was extremely low. Many people lost their life savings and stayed outside of the banking sector. In 2000, of the estimated 220 billion tugrigs in circulation, only 60%, or 130 billion tugrigs, went through the banks, while the remaining 40%, or 90 billion tugrigs, was either kept or circulated outside. Pawnshops continue to be popularly used in place of banks.9 However in recent years the banking environment has improved. Today 16 commercial banks, 6610 NBFIs and a large number of savings & credit unions (SCU) are engaged in lending in Ulaanbaatar. In 1999, total banking assets expressed as a share of Mongolia’s GDP amounted to no more than 20%, by 2002, this share had improved to 40%. The number of current account holders and borrowers increased 2 and 2.8 times respectively in 2002. In 2002, banks issued loans worth 469.9 billion tugrigs, this was 81.3% higher than in 2001. 41.5% of the loans were granted to the private production sector, and 58.5% to non-production sector. At the end of 2002, outstanding loans were valued at 231.4 billion tugrigs, of which 193.4 billion tugrigs (83.6%) were for loans disbursed in Ulaanbaatar. Non-performing loans amounted to 7.2% of total loans in 2002 while it was 23.8% in 2000.11 Over the course of this assessment, we met with a number of lending institutions in Ulaanbaatar. All of the institutions expressed a willingness to work with us. We will focus on working with institutions that offer microloans with flexible interest rates and terms and preferably have branches in the Ger Areas. Currently, seven banks and three NBFIs meet this criterion. Of these i...
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Credit Providers 

Related to Credit Providers

  • Letters of Credit for Payment Bond Notwithstanding the provisions of B4.3, Purchaser may use letters of credit in lieu of a surety bond for payment bond purposes when approved by Contracting Officer.

  • Credit The Credit awarded in section 2 of this Agreement will be allocated to Taxpayer by taxable year as set forth in Exhibit A, provided that Taxpayer achieves the Milestones associated with the applicable taxable year, which includes all investments agreed to in the prior years, as set forth in Exhibit A. Taxpayer acknowledges and agrees that, an allocated portion of the Credit is earned by Taxpayer in the taxable year when the Milestones associated with that allocated portion of the Credit are achieved and to avoid recapture, Taxpayer must maintain such Milestones for three (3) subsequent taxable years. All required Milestones identified on a taxable year basis in Exhibit A, must be met in order to earn the allocated portion of the Credit. In the event Taxpayer satisfies the taxable year Milestones in an earlier taxable year than described in Exhibit A (no earlier than taxable year 2017), upon written approval from GO-Biz, Taxpayer may claim the allocated portion of the Credit in the 0000 X Xxxxxx, 00xx XXXXX, XXXXXXXXXX, XXXXXXXXXX 00000 earlier taxable year when the Milestones are achieved. If Taxpayer satisfied certain taxable year Milestones in an earlier taxable year than described in Exhibit A (no earlier than taxable year 2017), and received written approval from GO-Biz to claim the Credit in the earlier taxable year, then Taxpayer need only maintain such Milestone for three (3) subsequent taxable years to avoid recapture as further described in Section 10. In the event that Taxpayer fails to satisfy each Milestone identified in Exhibit A in the taxable year associated with those Milestones including all Investments agreed to in the prior years, no portion of the Credit will be considered earned in that taxable year, but GO-Biz will not unreasonably deny the Credit to Taxpayer for immaterial variances from the Milestones. In determining whether Taxpayer satisfies each Investment Milestone, Taxpayer may include the aggregate amount of Investment made in prior taxable years (beginning with taxable year 2017) that was in excess of the cumulative Investment Milestones for such taxable years. Any allocated portion of the Credit associated with a specific taxable year in Exhibit A, which is not earned in that year due to failure to achieve the Milestones associated with that taxable year will be earned in the taxable year in which the Milestones are met, but in no event later than the last taxable year identified in Exhibit A.

  • Credit to Other Postsecondary Institutions Complete Articulation Agreement-Student will have to take at least one course at SSC to transfer articulated credit. (College Credit Plus courses apply) Agreements will be reviewed annually For questions, please feel free to contact, Xxxxxx XxXxxxx at 000-000-0000 X0000 or email – Xxxxxxxx@xxxxxxxxxx.xxx Xxxxx State College Articulation Agreement Information Technology Programming and Software Development Part B • Xxxxxxxxx High School – Web Programming & Design Student: Please complete the upper portion of this application and forward it to your high school program teacher to complete the lower portion. Credit for advanced standing courses will be given at the end of the college semester. Please be sure Xxxxx State College (SSC) has a copy of your final High School Transcript. The student must enroll in at least one course at SSC within one year of high school graduation to be eligible to receive articulated credit(s). The student must successfully complete the SSC course to receive articulated credit(s).

  • Bank The Buyer (a) is a national bank or banking institution organized under the laws of any State, territory or the District of Columbia, the business of which is substantially confined to banking and is supervised by the State or territorial banking commission or similar official or is a foreign bank or equivalent institution, and (b) has an audited net worth of at least $25,000,000 as demonstrated in its latest annual financial statements, a copy of which is attached hereto.

  • Credit Check You are authorized, in your discretion, should you for any reason deem it necessary for your protection to request and obtain a consumer credit report for the Customer.

  • College Credit Plus A. The opportunity to teach any course offered by the district through College Credit Plus (CCP) shall be offered to all members of the bargaining unit who are qualified to teach the course.

  • Credit Checks 9.1 The Customer agrees that:

  • CONCENTRATIONS OF CREDIT (1) Within sixty (60) days, the Board shall adopt, implement, and thereafter ensure Bank adherence to a written asset diversification program consistent with OCC Banking Circular 255. The program shall include, but not necessarily be limited to, the following:

  • Linked Accounts All accounts with the Bank that you enroll in a service will be linked by the tax identification numbers of the persons authorized to access the account. The linked accounts will appear together without regard to the ownership of the accounts. For example, if an authorized user of a linked account accesses the Service, that authorized user will be able to view and access at a single time the following accounts: • the accounts of the business for which that person is an authorized user; • the accounts of any other business for which that person is an authorized user; and • any consumer accounts for which the person is a co-owner or authorized signer.

  • Performance/Bid Bond and Letter Of Credit There are no bonds required for the Contract resulting from this Solicitation. In accordance with Appendix B, section 45, Performance/Bid Bond, the Commissioner of OGS has determined that no performance, payment or Bid bond, or negotiable irrevocable letter of credit or other form of security for the faithful performance of the Contract shall be required at any time during the initial term, or any renewal term, for the resulting Contract and Authorized User Agreements.

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