Investments Account Bank
Homes England (the name adopted by the Homes and Communities Agency) · £800,000 – £1,200,000 · closes 23 Nov 2018
£800,000 – £1,200,000
Estimated value
Closed
Deadline
2 Nov 2018
Published
This tender has closed.
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About this contract
As security for our investments placed with borrowing entities, our borrowers are required to secure to us the bank account through which they receive and recycle sales proceeds on their development. The accounts are secured to us through a fixed charge and assignment, most often through a debenture over all company books and assets. The accounts are opened by our borrowers (in their own name) but are to be operated on a joint signatory basis between Homes England and the borrower, in the absence of any enforcement action. A notice of charge and assignment is served by the borrower upon the bank, and requires acknowledgement to Homes England and the borrower of the content within - notably signatory requirements and waiver of any right of set-off over the account. We require a framework of banks whom our borrowers can approach in order to receive this service in a consistent manner. Please log into ProContract to download the documents which contain further details.
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