Borrowing Disclosures
The Firm acts as the Lender using its own capital. No actual or potential conflicts of interest have been identified with respect to the Firm’s Lending and Borrowing Services.
The Firm has 2 lending products:
1. Loans – typically, term loans with a fixed tenor and repayment schedule. Requires a credit assessment. Interest is charged on the loan amount and fees may be charged as well. Loans can be for any approved purpose. Loans may or may not have covenants at the discretion of the Firm. Only over collateralised.
Available for Qualified Investors and Institutional Investors clients only. Documented under a Master Loan Agreement and a Term Sheet. Loans can also be structured as a facility, for example, where a client requires a standby facility.
2. Settlement facility – A revolving facility for settlement funding with no set tenor and no set repayment/amortisement schedule. Callable at the Firm’s discretion. Requires a credit assessment. Interest is charged on the commitment and fees may be charged as well. Can be rebated against commissions/spread/other income. Settlement Facility can only be used within the Firm and may or may not have covenant or collateral (subjective as approved by the Firm based on the credit assessment). Liquidation is undertaken at the Firm’s discretion as documented in the Term sheet.
Available for Qualified Investors and Institutional Investors clients only. Documented under a term sheet.
The Firm has governance controls in place with respect to Virtual Assets. Please refer to the Firm’s VA Standards. Only VAs that have been approved by the Firm may be considered for the Firm’s Lending and Borrowing Services. The Firm does not use any proprietary protocols.
The Firm shall be entitled to receive the benefit of any incremental Virtual Assets generated as a result of a Hard Fork in the relevant Virtual Asset protocol or an Airdrop that results in a second type of Virtual Asset (the “New Asset”) being created from the Virtual Asset constituting principal amount of the Loan.
Please refer to www.aquanow.com/uae for the Firm’s Data Privacy Policy, Complaints Procedure and contact details. Complaints, including Whistleblowing, can be made by any person at any time by using the form available of the website or by calling the Firm’s phone number.
Markets for Virtual Assets have varying degrees of liquidity. Some are quite liquid while others may be thinner. Thin markets can amplify volatility. There is never a guarantee, representation nor warranty that there will be an active market for you to sell, buy, or trade Virtual Assets or products derived from, or ancillary to, them. Furthermore, any market for Virtual Assets may abruptly appear and vanish. You acknowledge there may be delays in liquidating your Virtual Assets, particularly in times of extreme volatility.
The Firm, though it’s Group, provides liquidity directly to clients and also has a wide range of relationships with exchanges, brokers, liquidity providers and market participants in order to access liquidity. Despite this, the Firm provides no guarantee, representation or warranty that it can access liquidity at any given time and especially in times of extreme volatility.
The Firm has policies and procedures, systems and controls in place to protect client’s Virtual Assets when held with the Firm and from counterparty risk. This includes, but is not limited to, counterparty due diligence, security and technology and contractual arrangements. The Firm only enters into over-collateralised loans.
The Firm may use Virtual Assets held by it. Activities may include the purchase, sale, borrowing, lending or otherwise disposal of Virtual Assets, including by means of pledging or rehypothecating.
Virtual Assets used by the Firm in the course of the provision of Lending and Borrowing Services may be at risk. These risks range from market, operational (including legal, regulatory and reputational), financial, liquidity, cybersecurity, and currency risks.
The likelihood of such risks may be higher for Virtual Assets than for traditional assets. Please refer to the Firm’s Risks, Disclosures and Important Information on www.aquanow.com/uae for a comprehensive description of the key risks that clients may be exposed to.