Teaser Miga Conditions and terms .pdf



Nom original: Teaser Miga Conditions and terms.pdf
Titre: Teaser Miga Conditions and terms
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International Service Ghana Ltd
We are not a bank or a financial institution,
ISG develops creative solutions to fund
profitable projects, in Ghana, Togo and
Nigeria, We assist entrepreneurs in these
countries to get funding for their projects,
we are entrepreneurs in project financing

Herewith ISG introduce MIGA (A part of the World Bank to you
Below you will find all the information
five risks:
https://www.facebook.com/pages/International-Service-Ghana-LT/519343768125228
About MIGA

Click here to view our facebook page
https://www.facebook.com/pages/International-Service-Ghana-LTD/519343768125228
https://www.facebook.com/pages/International-Service-Ghana-LTD/519343768125228

MIGA provides investment guarantees to the private sector (i.e., investors) -- only against
certain non-commercial risks (i.e., political risk) insurance to eligible foreign investors for
qualified investments in developing member countries for these five risks:
• Currency Transfer Restriction (including inconvertibility)
• War & Civil Disturbance (including sabotage and terrorism)
• Expropriation (including creeping expropriation)
• Breach of Contract (for contracts between the project and the Host Government)
• Non-Honoring of Sovereign Financial Obligations
MIGA is unique because it is not just an insurer, but also a catalyst for financing and a
deterrent against adverse government actions. In particular, a host government may be less
prone to act against a project guaranteed by a member of the World Bank
Group. Furthermore, when political problems between the insured and the host country arise,
MIGA may intervene and mediate between the investor and the government to find an
amicable solution. MIGA has a very strong record of success in managing investors'
perceived political risks through deterrence, advocacy and mediation.
MIGA can insure investments and the expansion, modernization, privatization, or financial
restructuring of existing investments.
Acquisitions involving privatization are also
eligible. MIGA enjoys the flexibility to cover different types of investments, including equity,
shareholder loans, and

loan guaranties made by an investor. Apart from cash contribution, an equity investment may take
the form of machinery and equipment, capitalized technology, and reinvested retained
earnings. MIGA may also insure indirect equity-type investments (e.g. technology transfer,
operations and management contracts, licensing and franchising contracts) provided that they carry
at least three years in maturity and its remuneration is somewhat tied to the project enterprise's
performance.
Three aspects of Mica’s coverage are particularly noteworthy :
1) It is non-cancelable by MIGA (unless the insured defaults on its contractual obligations), though
it can be terminated by the insured on any anniversary date, after the guarantee contract's third
anniversary.
2) It is long term, and can be issued for up to 15 (in certain cases up to 20) years, and can cover up
to 90% of the equity investment or up to 95% for a loan investment, which may be at
risk. Additional coverage may be available for future earnings (up to 500% of initial investment)
and/or loan interest attributable to the insured investment (up to 150% of principal).
3) It can cover cross border investments from any member country destined to any "NonIndustrial" member country, the following is a link to the list of MIGA's member countries
http://www.miga.org/about/index_sv.cfm?stid=1695

Mr. Steven Tuinstra Project Financer
MIGA Regular Application and Underwriting
Process

Step 1. An investor interested in pursuing a
MIGA guarantee is required to file a Preliminary
Application, before making an irrevocable
commitment to invest. This allows MIGA to make
an initial determination of the eligibility of the
proposed investment. The application, is free of
charge and does not obligate the investor to
purchase insurance and the information is kept
confidential by MIGA. The free Preliminary
Application is available here:

https://www.miga.org/guarantees/pa_splash
.cfm and should only take five minutes to
complete.
Step 2. Once the decision to invest is
made and/or MIGA is sought to provide
insurance, the investor is required to return
a completed Definitive Application along
with the following project supporting
documentation:
• Feasibility study or a business plan
supporting the economic viability and
financial soundness of the project;
• Financial forecast/ model (in electronic
form);
• All loan documentation -both shareholder
and non-shareholder (drafts acceptable
during underwriting);
• All loan guaranties (including back-stop
guarantees from parent companies)
• Investor and Project Enterprise
Incorporation documents/By-laws/
Financial statements;
• Environmental Permits/ environmental
impact assessment if applicable;
• Land Purchase/Lease Agreements;
• All other applicable project licenses/
permits/ agreements.

(See attached file: MIGA Definitive Applicaiton.doc)
Step 3. Once MIGA receives a Definitive
Application and relevant fees from the investor, the
underwriting process is initiated. The application fee
is refunded if MIGA rejects the project and it is
applied toward the initial premium if a contract is
signed. The underwriting process usually takes two
to four months, from the receipt of the Definitive
Application to the date the contract is issued,
provided all supporting documentation has been
provided.
For guarantee amounts of up to US$10 Million,
MIGA offers a stream-lined underwriting and
subsidized premium rates under our Small
Investment
Program(SIP)
The SIP benefits from stream-lined underwriting and
subsidized premium rates. It covers investments into
Small and Medium Sized Enterprises (SMEs) for
guarantee amounts of up to US$10 million (the
actual size of the investment may be larger). If the
Investor meets two the three following conditions the
MIGA Application fees may be waived.
• no more than 300 employees
• total assets not be more than US$15 million
• total annual sales should not be more than US$15
million
Under SIP, MIGA may issue a guarantee for up to 10
years (minimum of 3 years), and cover up to 90% of
an equity investment or up to 95% of a loan.
Benefits:
• Standardized package of risk cover including
Currency Transfer Restriction, Expropriation, and
War and Civil Disturbance (Breach of Contract risk
is not covered)
• Up-front premium rate (usually lower than the
regular program)
• Quick and efficient underwriting process
• Single application form which can be completed
on-line, no preliminary application is required
• No application fee for small and medium investors
• Standardized contract

MIGA's SIP Application is available
here:
http://www.miga.org/investmentguara
ntees/index.cfm?stid=1802

Contact ISG for more information

Contact data


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