Scope of work for acting as Facility Agent:
Our Role & Responsibilities
Part – I
- Vetting of Facility Agent transaction document.
- Drafting scope of work as per the sanction letter.
- Monitor and ensure compliance with the terms of the sanction letter.
- Ensure fulfilment of all pre-disbursement conditions accepted by Borrowers as part of the terms of the agreement with Lenders.
- Facilitate a smooth flow of information between Borrowers and Lenders.
- Sending notices and intimations prior to the due date of the repayment schedule.
- Ensuring sufficient funds availability in the borrower’s account prior to the date of transfers of funds to lender/s as per the repayment schedule.
- Coordinating with Banks or Authorized dealers to facilitate the transfer of funds to the lenders.
- Taking confirmation on the receipt of the funds from the lenders and maintaining records for the same.
- Coordinating between the borrowers and lenders for sending NOCs/ approvals/ consents/ waivers, if any.
- Manage and operate various bank accounts on behalf of the Borrowers.
Part – II
- Calculating the due interest amount and principal amount for prepayment as per the facility agreement.
- Making payments to the lenders on behalf of the borrower as per the repayment schedule.
- Taking confirmation from lenders & creating MIS post receipt of funds.
*Note: Part I and Part II can be modified and/or merged as per the requirements