Section 5: Loan Structure and Documentation No. Question OPIC Answer Does OPIC provide support/expertise related to OPIC recommends that any Bank participating in the Guaranteed Loan Facility structuring enforceable legal agreements, particularly program engage local counsel as needed to structure enforceable legal relevant to collateral, in eligible countries? agreements, especially those related to collateral, in eligible host countries. Does OPIC provide support/expertise related to OPIC recommends that any Bank participating in the Guaranteed Loan Facility proper local registration of investments by our U.S. program engage local counsel as needed to ensure proper local registration of based borrowers in eligible countries? investments by U.S. based borrowers in eligible host countries. Are personal guarantees from borrower principals The Guaranteed Loan Facility is structured such that the credit and risk rating of required? a project is up to the participating Bank to manage, subject to guidelines and requirements established through each Bank's agreement with OPIC. OPIC will evaluate the prospective deals for their compliance with the four areas of investment policy. More information on this can be found at (questions 7 - 9). Section 6: Monitoring & Workout No. Question OPIC Answer Does the program require us to initiate foreign Each Bank should follow its own workout policies and procedures, provided collection efforts prior to claim submittal? If so, does OPIC is satisfied with these policies and procedures. OPIC may assist with the OPIC assist with such collection efforts? workout depending on the amount at issue, but it will remain each Bank’s responsibility.
Section 5: Loan Structure and Documentation No. Question OPIC Answer Does OPIC provide support/expertise related to structuring enforceable legal agreements, particularly relevant to collateral, in eligible countries? OPIC recommends that any Bank participating in the Guaranteed Loan Facility program engage local counsel as needed to structure enforceable legal agreements, especially those related to collateral, in eligible host countries. Does OPIC provide support/expertise related to proper local registration of investments by our U.S. based borrowers in eligible countries? OPIC recommends that any Bank participating in the Guaranteed Loan Facility program engage local counsel as needed to ensure proper local registration of investments by U.S. based borrowers in eligible host countries. Are personal guarantees from borrower principals required? The Guaranteed Loan Facility is structured such that the credit and risk rating of a project is up to the participating Bank to manage, subject to guidelines and requirements established through each Bank's agreement with OPIC. OPIC will evaluate the prospective deals for their compliance with the four areas of investment policy. More information on this can be found at (questions 7 - 9). Section 6: Monitoring & Workout No. Question OPIC Answer Does the program require us to initiate foreign collection efforts prior to claim submittal? If so, does OPIC assist with such collection efforts? Each Bank should follow its own workout policies and procedures, provided OPIC is satisfied with these policies and procedures. OPIC may assist with the workout depending on the amount at issue, but it will remain each Bank’s responsibility.