Mark Rule
#12211
The wording of this note description has confused me guys. The sum advanced can be broken into three parts: the deposit paid to our borrower’s supplier, the balance of the supplier cost and, the profit margin earned by the borrower. The description notes that some or all of this is uninsured for a period of weeks, presumably during the production phase. Which part of the loan does this involve?
Put another way: which part of the contract price is advanced the borrower before the contract price is earned and the contract enforceable against his customer?
Your answer will be a big help.
Mark 0408317726
6 years, 6 months ago
Reply
.
