But the man has no collateral, no security.

Sponsors?

Note to the Working Group Under the definition of control in the terminology section, the secured creditor has control of an independent undertaking where (i) the issuer guarantor or nominated person paying the proceeds is the secured creditor (ii) the issuer guarantor or nominated person paying the proceeds has acknowledged the security right in the proceeds from the drawing under an independent undertaking or (iii) the secured creditor is the beneficiary.

(e) Debtor means a person that owes performance of the secured obligation and includes secondary obligors, such as guarantors of a secured obligation .

Under the third method of obtaining control, as between the issuer guarantor or nominated person paying the proceeds and the secured creditor, the secured creditor is the beneficiary of the independent undertaking.

By this law, the following do not participate personally in the costs of health care protection

(ii) Possessory security right means a security right in tangibles that are in the actual possession of the secured creditor or of another person (other than the debtor or other grantor) holding the asset for the secured creditor.

(aa) Guarantor Issuer means a bank or other person that issues an independent undertaking.

In the insolvency of a non grantor debtor, the creditor is an unsecured creditor with an unsecured claim against the non grantor debtor.

(jj) Non possessory security right means a security right in (i) tangibles that are not in the actual possession of the secured creditor or another person holding the tangibles for the benefit of the secured creditor, or (ii) intangibles.

Without sponsor.

(f) Grantor means a person that creates a security right in one or more of its assets in favour of a secured creditor to secure either its own obligation or that of another person (see debtor).

A simple example of the latter would be a determination by the guarantor issuer as to whether a required monetary deposit had been made in a designated account maintained with that guarantor issuer.

I'm a stranger in town. Don't you need my character reference?

Where the security right at issue (which secures the debtor's obligation) is granted by the debtor, the term debtor also refers to the grantor.

Rights and obligations of the grantor and the secured creditor

It may be that, as between the grantor and the secured creditor, the secured creditor has agreed to treat the proceeds as encumbered assets.

I will be your guarantor.

All I need is sponsor.

Protection of secured creditors

If the secured creditor and the depositary institution are the same person, the law should provide that the secured creditor automatically has control upon the creation of the security right.

I can personally vouch for his character.

How you say... Sponsor.

(b) Security rights securing the obligation of the obligor on the negotiable instrument.

Accordingly, the focus of the Convention is on the relationship between the guarantor (in the case of an independent guarantee) or the issuer (in the case of a stand by letter of credit) (hereinafter referred to as quot guarantor issuer quot ) and the beneficiary.

In many countries health care expenditure is borne either by the Government or by individuals themselves.

The law should provide that a secured creditor with a security right that is not effective against third parties has towards third parties no right other than as an unsecured creditor priority over unsecured creditors unless the unsecured creditor has taken steps to reduce its claim to a judgement or the grantor has become insolvent .

To the extent that the value of the encumbered asset is insufficient to satisfy the secured creditor's claim, the secured creditor may participate as an ordinary unsecured creditor.

The ship apos s insurer had furnished the consignee with a letter of guarantee as security for any penalties imposed on the ship owner in his capacity as carrier.

You will be my sponsors?

The term includes a bank or other person that confirms the independent undertaking ( confirmer ).

By requiring authorization of the guarantor issuer, the Convention does not recognize as confirmations quot silent quot confirmations, i.e., confirmations added without the assent of the guarantor issuer.

This Convention applies to an international undertaking if the place of business of the guarantor issuer at which the undertaking is issued is in a Contracting State.

Any such agreement does not affect the relationship between the issuer guarantor or nominated person paying the proceeds and the beneficiary (the secured creditor).

The law should provide that a security right in a bank account is effective as between the secured creditor and the grantor notwithstanding an agreement between the grantor and the depositary bank limiting in any way the grantor's right to create a security right in its bank accounts.

Security rights in wages are excluded based on the policy of protecting individual and family life.

If the secured creditor is the depositary bank, the depositary bank's security right has priority over any other security right.

The purpose of conflict of laws rules is to determine the law applicable to each of the following issues the creation of a security right the pre default rights and obligations between the secured creditor and the grantor the effectiveness of a security right against third parties the priority of a security right over the rights of competing claimants and the enforcement of a security right.

The law should provide that the delivery of possession of the assets to be encumbered is to the secured creditor or a third person (other than the grantor or an agent or employee of the grantor) that holds the assets on behalf of the secured creditor.

Oh, here it is. Bail furnished by the Personal Bonding Company.

The same may be said of the relationship between a guarantor issuer and its instructing party (the instructing party being, for example, a bank, requesting, on behalf of its customer, the guarantor issuer to issue an independent guarantee).

Top management should take ultimate responsibility and ensure accountability of individuals and units.

(g) Security agreement means an agreement between a grantor and a creditor, in whatever form or terminology, that creates a security right.

(c) Ensure equitable burden sharing with private creditors

(a) Provision of credit loans through group guaranteed and individual lending schemes