The recovery actions that SmartFunding may undertake on behalf of the Investors include the following:

  1. Appointment of a third-party debt collection agency to recover the amounts outstanding;
  2. Initiate legal proceeding against the Borrower; and/or
  3. Claim against the director/shareholder’s personal guarantee and/or the parent company’s corporate guarantee.

Any cost in relation to the undertaking of the recovery actions shall be borne by the Investors.

Before undertaking any recovery action, SmartFunding will communicate to the Investor the cost to be borne under each recovery option and obtain Investor’s consent to proceed prior to incurring such costs. In such cases, the cost to be borne by each Investor shall be on a pro-rata basis, based on the amounts that they have invested or committed.

Tagged:

Leave a Reply

Your email address will not be published.