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| Auctioneer revamps asset lending - article published in Leasing Life Magazine 16 February 2007 |
SHM Smith Hodgkinson, a Gordon Brothers company, auctioneer, and appraiser has revamped the way the asset lending sector functions with a new guarantee service for leasing companies.
The new product known as ‘Put Option Agreement’ provides assurance for an asset’s value in a time series or ‘residual appraisal profile’.
The lessor benefits from the system as it receives a commercial equivalent ‘first loss’ of 20 per cent of the prevailing value of an asset in the event of a loan or lease default.
Christian Humphreys, associate director at SHM said: “The put option agreement offers something unique in the current marketplace- it significantly reduces the risk and uncertainty through guaranteed valuations.”
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