FINANCIAL SECURITIES
Frequently asked questions and Answers
Question:
What is an Insurance Binder?
Answer:
An Insurance Binder is a legal contracts of temporary insurance surety bonds issued to clients by either an insurer to provide temporary evidence of insurance pending the issuance of a formal policy. Binders contain definite time limits, should be in writing, and clearly designate the insurer with which the risk is bound until the actual policy is issued. We provide client with an insurance Binder alongside an issued invoice for the allotted payment of 2.6% of total secured amount of the surety bond policy.
Question:
How does the Malvex Insurance Co SRL service work?
Answer:
MALVEX Insurance provide the client with an insurance Surety Bond, upon acceptance of the clients business plan, which provides the necessary security for the Lender to issue the loan that is required to execute their project plans in full.
MALVEX are able to introduce the client to the lender who will accept the
MALVEX insurance surety bond as security for the loan to the client under very competitive terms.
Question:
How long does the application process take?
Answer:
The Insurance Bond Application Process takes approximately 2 days after receipt of the clients application.
The Insurance contract, which is required to be provided to the Loan provider, will be provided to the client within 24 hours of the funds being cleared at the MALVEX nominated bank.
Question:
Who are Malvex Insurance Co SRLS?
Answer:
Malvex Insurance Co SRLS are one of the most established and integral Insurance Companies in Europe providing Insurance Surety Bond Policies in Security to Private Lenders and Mainstream rated Banks for the purpose of Client Loans.
Malvex Insurance Co SRLS operate with due consideration to an exacting regulatory and legal framework, which assures sound Financial transactions with the highest standard resulting in "best in class business practice".
Malvex Insurance Co SRLS Assicurazioni Generali VAT & Trieste Companies Registration number: 00079760328
Malvex Insurance Co SRLS - Assicurazioni Generali is registered in the Insurance and Reinsurance Companies Register under number: 1.00003
Malvex Insurance Co SRLS - Assicurazioni Generali Commercial License Number: CL0514 Malvex Insurance - Co - SRLS -Insurance Groups Register under number 026
Question:
What is involved in the Malvex Insurance application process?
Answer:
Detailed below are the steps that is required in order to process the clients loan application incorporating the MALVEX Insurance Surety Bond as the Lenders security.
1. Client provides MALVEX Bond application, associated project planning & financial documentation,Loan application and loan agreement documents signed copies only.
2. Insurer approves insurance application and issue ‘Off Risk’ policy in favor of the client
3. Client and Insurer are satisfied with discussions
4. Clients agrees to pay insurance Premium cost upfront as indicated in our collateral proposal form.
5. Insurer issue sent to the client the draft copy of the indemnity insurance binder policy contracts for its lenders overview alongside issued invoice to remit payment for insurance surety bond policy once the contracts is accepted by lender.
6. Client pays for the insurance wrap premium policy and send us copy of the receipt of the payment made for confirmations.
7. Insurer issues ‘On Risk’ policy in favour of the client to the lender (delivered by hand courier). within 3 days of payment confirmation.
8. Official invitations are sent to our clients worldwide to have face to face meeting with the insurer in Milan, Italy if the need arises.
MALVEX INSURANCE
Live for all