SKRs - Safe Keeping Receipts
What is “Safekeeping” and what is a “Safekeeping Receipt”?
Safekeeping is where an asset owner elects to place that asset in the care of an Agent, usually a Bank or a Financial Institution and receives an acknowledgement from the Bank as to their "Safekeeping" of that asset. The asset owner may elect to have such an acknowledgement sent to a third party. A fee may be required for these services.
Project Funding India provide the services for issuing Safekeeping Receipts (SKRs) to clients who want to safeguard their assets.
Project Funding India assist in arranging private monetization of Safekeeping Receipts (SKRs), which includes all types of assets.
Any organization having verified assets like, land or property with cleared titles that are being held in depository, safekeeping facility, and financial institutions, can be monetized by us. The advantage is that we do not let the clients lose their land & cleared property or give up control over them.
In the event of default in loan repayment, the holder of the Safekeeping Receipt will request the issuer of the Safekeeping Receipt to forward the held assets to their legal representatives, for them to liquidate the assets. If there is a shortfall after liquidation, the lender will pursue the former asset owner, now borrower for any balance of debt remaining. The institution issuing the Safekeeping Receipt has fulfilled all its obligations by releasing the held documents or goods to the Safekeeping Receipt Holder.