Financial
Services
General
Financial agent
Acting as general financial agent we undertake to represent and to act
"in place" of our client in the places of our operations.
That service is provided to banks and companies with large corporate
finance arms who need a correspondent in the place of operation who
to handle in their name local transactions they are getting involved.
In its capacity as general financial agent UNITED MANAGERS INTERNATIONAL
LTD. is acting as a "virtual branch" of the client taking
such functions that a local branch of the client would normally do,
or as a "virtual department" providing outside service operations
which the corporate finance department of the client would be concerned.
Our services as general agent are not limited by scope - we could assume
practically every action the client might wish us to take instead of
him.
Collection
agent
Unfortunately but it happens that our clients have outstanding claims
to third parties. In that case they may decide to transfer the claim
to us for collection and UNITED MANAGERS INTERNATIONAL LTD. takes
the necessary actions to enforce the claim.
Nominee
Collateral holder
Complicated commercial transactions may require that a security provided
as collateral for a claim have to be transferred several times in the
course of transaction. Depending on the kind of collateral that might
be difficult and expensive. Instead of collateral to be transferred
several times the companies involved in transaction may agree the collateral
to be provided to UNITED MANAGERS INTERNATIONAL LTD. who to keep it
and in case of default to transfer or to collect it for the benefit
of the particular transaction party who was affected under a default.
Custody
Bulgarian legislation restricts non-residents to keep Bulgarian domestic
securities. A non-resident company would need a special permission of
the Minister of Finance to acquire such domestic Bulgarian security.
To avoid that our foreign clients may authorize UNITED MANAGERS INTERNATIONAL
LTD. to acquire the security and keep it in UNITED MANAGERS INTERNATIONAL
LTD. name but on their behalf and upon order of beneficiary customer
to transfer such security to a third person.
Management
Agent
Operations of the kind of trade finance might require the provider of
funding to use a "dummy" local company as a special purpose
vehicle for the project financed. This mechanism pays out in case of
special tax treatment for local companies or if taxation or fees could
be alleviated by that way. In those cases UNITED MANAGERS INTERNATIONAL
LTD. might be mandated to establish and manage a local company for
that purpose
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