The role of the proposed Sponsor is to provide Collateral to facilitate the issuing of a “Non Recourse Loan” for a Humanitarian Non Profit Project.

This Collateral satisfies the IRS requirement for the providing of a Non Recourse Loan and is otherwise not needed or used.  The amount of the proposed Collateral equals the amount required for the Project or a Phase thereof.

This Collateral will be returned, unencumbered before the end of its Term of Thirteen (13) Months.

The Procedures of the proposed Project Sponsor are as follows:

1. Sponsor to provide a copy of a Letter addressed to the Sponsor from the Sponsors Bank confirming that the Sponsors Bank Account(s) has sufficient monies to meet or exceed the amount required for the Sponsorship of the Humanitarian Non Profit Project.
2. The Sponsor provides a Letter on his letterhead giving the Project Funder or its Designate the right to verify the above Bank Letter.
3. The Funder provides his bank with the above Documents for Verification.
4. The Funders bank appoints a Facilitator to prepare a Joint Agreement with the proposed Project Sponsor.  This Agreement details the return of the Sponsors funds prior of the Expiry Date; and the amount and time of Payment of Fees to the Project Sponsor for providing the Financial Service.
5. The Funder receives the documentation from the Facilitator that the monies are in place and the Joint Agreement is approved and signed by both Parties.
6. Funding of the Project takes place.