Responsibilities of Financial Intermediaries

Section 900 Section 900.145  Responsibilities of Financial Intermediaries Each financial intermediary shall be responsible for: a)         Receiving on-loan applications from eligible exporters and making on-loan credit judgments; b)         Arranging for, and perfecting a security interest in, necessary collateral; c)         Disbursing and monitoring on-loans; d)         Collecting repayments of on-loans; and e)         Remitting payments to the Authority pursuant to the provisions of the guaranteed participating loan, the Act, and this Part.