Introduction

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Sardison Capital (referred to as “Us”) has been engaged by the Client (referred to as “You”) to secure funding from reputable and suitable sources. Our services may include due diligence and review of relevant documents. Below, we outline the terms and responsibilities related to our collaboration.

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Scope of Services

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We commit to providing the following services:

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• ID&V KYC Checks: Verification of identity through passport and/or driving license checks.

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• Document Review:

  • Business plan or executive summary assessment.

  • Evaluation of pitch decks or presentations.

  • Examination of opportunity notes or information memoranda.

  • Analysis of historic trading accounts (up to three years).

  • Assessment of management figures.

  • Review of VAT returns.

  • Examination of profit and loss projections.

  • Analysis of cash flow forecast projections.

  • Scrutiny of business bank statements (last six months).

  • Review of personal bank statements (last six months).

  • Assessment of ALIE or SALIE (statement of assets, liabilities, income, and expenditure).

  • Evaluation of schedules related to property assets.

  • Review of aged debtors and creditors lists.

  • Consideration of images or photos.

  • Assessment of invoices, quotations, and contracts.

  • Examination of lease agreements.

  • Review of business credit files.

  • Analysis of personal credit reports.

  • Preparation of all applicable documentation.

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Limitations and Disclaimers

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• No Guarantee: Sardison Capital cannot guarantee that the proposed terms will be achieved. Various factors beyond our control may impact the lender’s decision, potentially leading to adjustments in the terms offered.

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• Lender Requirements: It is common practice for lenders to require additional conditions, including:

  • Adequate insurance coverage for buildings, plant, machinery, and stock.

  • Appropriate life or term assurance, including keyman insurance.

  • Guarantees from relevant parties.

  • Independent property valuations for security purposes.

  • Retentions for security repairs (if advised by valuers).

  • Detailed financial information, including bank statements and audited accounts.

  • Involvement of independent solicitors in funding documentation.

  • Specific conditions related to the funding (in addition to standard terms).

 

Data Protection Act 1998

 

In order to process the application for funding we will need to be supplied with information, possibly including accounts and personal financial details of directors, by other sources such as Banks and credit reference agencies. Personal financial information will only be accessed if this forms part of the terms relating to a specific lender’s written offer. We may also, when authorised by you in writing, apply for supplementary information from your professional or other advisers. We will record this information (whether in manually operated or automated systems) and retain it only as long as we are required by law to do so. We will keep it as securely as possible.

 

We will use the information to assess the application, to approach a number of selected lenders and, subsequently, in negotiations for the issue of an offer of funding with them. In order to do so, we will disclose such of this information as is necessary to negotiate terms with a funding source, with employees of this business, any guarantor required by the lender, any person or organisation necessary to comply with any legal or regulatory requirements to which we may be subject, and anyone else whom you may specifically authorise in writing.

We may also use the information to monitor and analyse our business and, unless you instruct us in writing not to do so, contact you with details of products or services which may be of interest to you. In the event that we need to conduct any searches with credit reference agencies for data relating to individuals, we will need to disclose information about those individuals. The credit reference agencies will record details of our searches. You may have the right to apply to us for details of the information we hold about you. An administrative charge will be made by us for doing so unless disclosure is a statutory requirement.

 

Appointment of the Broker/Packager

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The Client appoints the Broker/Packager exclusively to secure finance (within 90 days from the date of this Agreement or such additional period as is agreed between the parties) from reputable funding sources the issue of a formal offer of funding (“the Offer”) on terms materially equivalent to those sought by the Client (but without regard to any conditions reasonably imposed by the lender), as recorded in the form of Indicative Terms (DIP/AIP/Term Sheet). Material equivalence will be determined by agreement between the Broker / Packager and the Client.

 

Administration Fee

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The Client has selected a package of support (PoS) that will cover the level of admin work involved in their application. If the level of work is not covered by the PoS that has been selected, we will notify the client and suggest upgrading their PoS. By upgrading a PoS, the client will have to pay the full cost of the package. Administration Fees are non-refundable and must be paid before any work can be commenced.

 

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Success Fee

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With effect from the date of the Client’s acceptance of the Offer, a non-refundable success fee as shown below in point A, B and C will apply to the gross value of such funding solutions as is agreed in the Offer, payment to be made in accordance with our Success Fee Payable terms.

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A:     1% on all bricks and mortar funding

B:     2% on all other debt funding

C:     5% on all equity funding

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Our minimum success fee is £2,000 regardless of the amount of money raised.

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Success Fee Payable

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Without prejudice to the Client’s liability to pay the success fee, the fee shall be paid by the Client as stipulated below by Sardison Capital’s invoice:

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On completion of the funding, the fee is to be deducted from the funding amount and/or paid directly to Sardison Capital by the client/solicitors or the lender (unless agreed otherwise) and Sardison Capital reserves the right to pursue legal actions if this fee is not paid within 5 working days as stipulated in the invoice unless agreed otherwise.

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The Client acknowledges that he/she has received such independent advice as he/she considers necessary before signing this Agreement and that neither the Broker nor anyone on the Broker's behalf has put any pressure, or other undue influence, on the Client to sign.

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The Broker/Packager has informed the Client that commission may be paid by the Lender to the Broker/Packager and some may be passed on to the introducer and the Client accordingly consents to such payment.