Tag Archives: financial institutions

Powell: Fed to proceed cautiously with rate hike amid Ukraine dispute Federal Reserve Chairman Jerome Powell said Wednesday that the central bank still plans to raise interest rates despite the “very uncertain” economic effects of the war in Ukraine. “Ultimately we will continue, but we will proceed with caution as …

QCOSTARICA – In the technological era, in which we are immersed, we have more and more resources to streamline certain processes in banks, stores and businesses of all kinds; QR codes are one of those tools that have become popular, but the Asociación Bancaria Costarricense (ABC) – Banking Association of …

QCOSTARICA – Several websites claim that Ukrainian President Volodymyr Zelenskyy is laundering money in Costa Rica. No reliable source has revealed evidence of allegations of alleged fraudulent investments by Zelenskyy in Costa Rica made by several websites. There is no evidence that Zelenskyy is laundering money in Costa Rica. Web …

Leasy, a startup that offers car financing to ride-hailing drivers in Latin America through a subscription model, raised $2 million in equity and $15 million in debt. Gregorio Gilardini, originally from Italy, and Alejandro Garay, originally from Spain, met in Peru several years ago and discovered that they both had …

COSTA MESA, Calif.–(BUSINESS WIRE)–MeridianLink, Inc. (NYSE: MLNK), a leading provider of modern software platforms for financial institutions and consumer intelligence agencies, will report its fourth quarter and fiscal year 2021 financial results after market close Thursday, March 10, 2022, followed by a conference call and webcast at 2:00 p.m. Pacific …

Oil wells in Lake Maracaibo, in the western region of Venezuela. PA Rising oil prices triggered by Russia’s invasion of Ukraine could create a big problem for the Biden administration in Latin America: it could create havoc for oil-importing countries in Central America and the Caribbean , and could encourage …

(Bloomberg) — Three months ago, Chinese authorities rescued the country’s biggest troubled debt manager from a potentially disastrous meltdown. Now they are making China Huarong Asset Management Co. and its peers a key line of defense for the $54 trillion financial system as defaults in the property sector soar. In …

In B2B payments today, one in four U.S.-based global businesses will invest in Accounts Payable (AP) and Accounts Receivable (AR) integration over the next three years, and Convictional is raising $40 million. dollars at a fundraiser. Additionally, FinTech Transact365 launched its payment platform in Latin America and more. 25% of …

PANAMA CITY, February 7, 2022 /PRNewswire/ — Banco Latinoamericano de Comercio Exterior, SA (“lamex“or the”Bank“;NYSE:BLX) today announced the successful closing of a $101.5 million senior double-tranche syndicated loan (the “Ease“) for Inversiones CrediQ Business, SA and its subsidiaries in Costa Rica and El Salvador (“CreditQ“or the”Society“). lamex was the sole …

London, United Kingdom: Today, Acuity Knowledge Partners (Acuity), a leading provider of bespoke research, analytics and technology solutions for the financial services industry, reveals the rapid growth the company experienced in 2021, across all of its global operations. Acuity now supports more than 400 banks, asset management companies, commercial …

MMIthe only e-signature provider specializing in e-signature and digital transaction solutions exclusively for financial institutions (FIs), today announced that it has expanded its longstanding partnership with MeridianLink provide community FIs with an enhanced collections processing solution. IMM’s flagship electronic signature platform, IMM eSign, is now integrated to provide integrated electronic …

The government has been supportive, but it should be more proactive in offering interest-free loans, more grants, tax cuts, technological advances and a measure to increase domestic travel. By Pranav Dangi The onset of the pandemic and the series of lockdowns that followed had a negative impact on the whole …

Thank you – it’s an honor to be here, at the end of an inspiring trip to Ecuador and Costa Rica, just a few weeks after an equally inspiring visit to Peru and Colombia – and to meet many of you here today at the Leticia Pact ahead of COP26. …

Jifiti, a leading fintech company, is launching its white-label ready-to-use split payment solution, enabling any entity, be it a bank, lender, merchant, from a wallet or a payment solution provider, to offer split payments directly to consumers. Jifiti logo Jifiti logo Jifiti logo COLUMBUS, Ohio, Jan. 20, 2022 (GLOBE NEWSWIRE) …

01/18/2022 PROVIDENCE, RI – Citizens M&A Advisory today announced that it is the exclusive financial advisor to InCare Technologies, LLC, a leading Birmingham, Alabama-based managed IT services company, in connection with its sale to Thrive Networks Inc. ., a portfolio company of Court Square Capital Partners. Thrive’s acquisition of InCare …

RADNOR, Pa., January 13, 2022 /PRNewswire/ — Milestone Partners (“Milestone”) is pleased to announce the sale of Heights Finance (“Heights” or the “Company”) to CURO Group Holdings Corp. (NYSE: CURO), the December 27, 2021 for a total equity consideration of $360 million. Based at Greenville, South Carolina, Heights provides installment …

[ad_1] By Daniela Izquierdo * Latin America has the second highest rate of female entrepreneurship in the world, and the existence of female entrepreneurs in this region is proven to boost economic growth and create new employment opportunities. Therefore, beyond lip service, it is essential to tackle the obstacles that …

[ad_1] On November 15, 2021, PRIME Finance launched its revised PRIME Finance Arbitration Rules (on Rules). A launch event took place on December 6 during which Georges Affaki, Martin Doe of the Permanent Court of Arbitration (CPA) and PRIME Finance Secretary General Kasper Krzeminski gave an overview of the Settlement. …

Photo by Vaughn Ridley / Sportsfile for Web Summit via Getty Images If there is a queen of climate action, it is Christiana Figueres. Best known as one of the architects of the 2015 Paris Agreement, the 65-year-old Costa Rican diplomat is currently the co-founder and director of Global Optimism, …

[ad_1] Santo Domingo, DR.The Dominican Republic is showing a recovery that is appreciated as a success by the international community, highlighting the opinions of the most prestigious risk rating agencies, the most representative institutions of the international bank and various multilateral organizations. An analysis by Pagina Abierta of the Central …

[ad_1] COSTA MESA, Calif .– (COMMERCIAL THREAD) –MeridianLink, Inc. (NYSE: MLNK), a leading provider of modern software platforms for financial institutions and consumer news agencies, today announced the appointment of senior board member Yael Zheng and responsible for software marketing, within its board of directors. An industry veteran, Zheng brings …

[ad_1] The foundation of each type of loan you can take out is the Credit rating as the main element. Whether you take out a loan directly from the bank or through other financial institutions as lenders, credit rating remains a crucial factor. Nowadays even taking out a payday loan …

[ad_1] DIXON, Calif .– (COMMERCIAL THREAD) – First Northern Bank (OTCQB: FNRN) today announced its membership in the Alloy Labs Alliance, a consortium of innovative community banks working together to drive innovation and change for community banking services. First Northern Bank is the only member bank in California. This announcement …

[ad_1] QCOSTARICA – Banknotes of 2,000, 5,000, 20,000 and 50,000, printed on cotton paper, will lose their value as a means of payment, starting next year, and will begin a process of gradual withdrawal from circulation. The 20,000 notes printed on cotton will lose their commercial value (lose their value …

[ad_1] In 2020, due to the coronavirus pandemic, debt levels in Latin America have reached all-time highsJUAN PONCE VALENZUELA (EFE) Sitting next to a Costa Rican flag and staring, President Carlos Alvarado did not hesitate to express his frustration with the global financial system. “Other actors have a responsibility to …

By Amber Friedrichsen With passports in hand and suitcases in tow, two groups of students from the College of Agriculture and Life Sciences boarded planes to study abroad during the fall vacation from Iowa State University. These faculty-led programs in Costa Rica and the United Arab Emirates allowed students to …

Trade-based money laundering (TBML) is quickly turning into a global tsunami. U.S. Customs and Border Protection (CBP) are looking to importers to help identify risks in this critical area, and for CTPAT participants, this is the newest dimension of the criteria. Minimum Security Systems (MSC) deployed in 2020. Before we …

[ad_1] Nicaragua’s withdrawal from the Organization of American States (OAS), requested by the regime of Daniel Ortega and Rosario Murillo, means that the country is “cutting itself off from the international system”, which generates “a lack of legitimacy, because it becomes a state ”for multilateral organizations, warned the analyst of …

[ad_1] Within the framework of the thirty-sixth session of the Committee of the Whole of ECLAC, the Executive Secretary of the organization, Alicia Bárcena, presented five innovative proposals for financing development for the region. The current crisis must be used as an opportunity to rethink the financing program for the …

[ad_1] The extent of the economic repercussions that Nicaragua could possibly suffer from its departure and / or its suspension from the Organization of American States (OAS) remains to be seen, warned economist and political scientist Enrique Saenz. Likewise, its effect on the socio-political crisis in which the country is …

[ad_1] The Principles for Responsible Banking Commitment to Financial Health and Inclusion is a unique banking industry accelerator initiative to promote universal financial inclusion and health. 28 signatory banks joined the leadership group by signing the Commitment Targets should be set and published within 18 months of signing, with an …

[ad_1] Payday Loans Using The Internet At Ca. Providers That Provide Payday Advances Française | We have removed some companies from your own databases in the past few months. It offers tough lending rates and many payday finance institutions and liberal loan providers do not support the condition much more. …

[ad_1] Pointing out that high interest loans are proliferating in Chicago’s non-white neighborhoods is a bit like saying the skies are blue or the grass is green, but a consumer group says he’s proving it for the first time. times with precise numbers. Using 2019 borrower loan data obtained from …

[ad_1] The upcoming inauguration of the new headquarters of the Central American Bank for Economic Integration (CABEI), in Managua, which is being built in Plaza Cobirsa at a cost of $ 16.5 million, testifies to the magnificent relations existing between the executive president of this institution, Dante Mossi, with the …

[ad_1] Expectations are sky-high for the artificial intelligence lending platform Holdings reached (NASDAQ: UPST), which is trading at around 295 times earnings after the stock has plunged about 24% since the company reported third-quarter earnings. Upstart, with its machine learning and 28 billion cells of training data, seeks to replace …

[ad_1] Today, technology and digitization have become essential tools for the survival of a company. As such, the financial sector has moved from traditional interaction and communication to an immersion in the process of regeneration and transformation which has resulted in decisive changes. Randall Castillo Ortega, founder of SME lender …

[ad_1] Canals : COP, Stranded Assets Companies: Rockefeller Brothers Fund People: Michael northrop November 16, 2021 Finance is particularly well placed to save the planet, but has already funded 1.5 Ö¯ C of global warming, warns Michael northrop Carbon Tracker, the London Financial Analytics store, told us about it in …

[ad_1] Benefits for people and the planet The ERPA program in Mozambique is more than just a payment from the FCPF. It promotes conservation and climate-smart agriculture in forest communities, helps farmers harness sustainable supply chains for cash crop production, restores degraded lands, stimulates charcoal production and consumption. more efficient …

The first two days revolved around the theme of the ‘World Leaders Summit’, an opportunity for leaders around the world to speak out on the climate crisis and how they plan to accelerate decarbonization to achieve the goals of the Paris Agreement 2050. Day one saw UK Prime Minister Boris …

[ad_1] By Kevin Costelloe Thursday, November 4, 2021 Costa Mesa-based MeridianLink, which provides cloud-based software for small financial institutions, said third quarter revenue was $ 67.4 million, an increase of 29% year over year. ‘other, exceeding analysts’ estimates.The company (NYSE: MLNK) also reported Adjusted EBITDA of $ 31 million, while …

[ad_1] Forward-looking statements This report contains certain forward-looking statements concerning the financial condition, results of operations, plans, objectives, future performance and activities of Hawthorn Bancshares, Inc., and its subsidiaries (collectively, the Company, we, us, or our), including, without limitation: ? statements which are not of a historical nature, and statements …

[ad_1] Image by Milos Golubovic via flickr (CC BY-NC-ND 2.0) Two years after the Paris Agreement of 2015, the global multilateral development banks (MDBs) committed to align their financial flows with the historical objectives of the climate pact. Now, four years later, it is clear that as a group, the …

Posted an hour ago Proposed by MasterCard Mastercard and its partners advance the future of sustainable commerce PURCHASE, NY, Nov. 1, 2021 / CSRwire / – As world leaders gather for the United Nations Climate Change Conference (COP26), Mastercard has unveiled an acceleration of its decade-long net zero calendar, from …

[ad_1] FINANCIAL – The European Bank for Reconstruction and Development (EBRD) steps up its support for the digital transition of trade finance by facilitating test transactions between the National Bank of Greece, TBC Bank in Georgia and Nordea on the trade platform digital we.trade. Testing will take place as part …

[ad_1] The Green Climate Fund has granted the so-called Central American Dry Corridor $ 174.3 million which will serve to increase the capacity to adapt to the effects of the climate crisis, an official source reported on Thursday. The Central American Bank for Economic Integration (CABEI) said in a statement …

[ad_1] The banking sector is looking for a way to take advantage of the experience gained during the COVID-19 pandemic period to promote digital banking with innovation that allows it to continue to achieve significant technological progress and in terms of business models. However, not only the circumstances of COVID-19 …

[ad_1] MEXICO, October 21, 2021 / PRNewswire / – LexisNexis Risk Solutions has released its 2021 True Cost of Fraud â„¢ report in Latin America. The study is a comprehensive survey of 454 risk and fraud executives in retail / e-commerce, financial services and lending, including 90 companies from Mexico. …

[ad_1] All the questions Structuring and regulation of heritage i Vehicles commonly used for asset structuring The appropriate vehicles for wealth structuring depend primarily on the jurisdiction of residence of the owner and the provisions of applicable tax treaties, if any. French residents generally opt for direct holding of their …

[ad_1] Marlette Funding LLC returns to the securitization market with a deal that has many similarities to two somewhat larger deals that the sponsors structured earlier in 2021. Marlette Funding Trust 2021-3, valued at $ 319 million, is divided into four tranches, comprising $ 210 million of “AAA” rated bonds …

[ad_1] Hawaii recently enacted significant changes to its Low Dollar Loans Act that repeals the existing Hawaiian law on deferred deposits and creates a new regime for installment loans. Even if HB 1192 entered into force on July 1, the repeal of the existing law on deferred deposits is effective …

[ad_1] Latin American economies benefit from a dynamic and innovative fintech sector. Already Latin America’s largest neobank, São Paulo-based fintech Nubank could surpass the $ 55.4 billion market value of Itaú Unibanco, Brazil’s historic first bank, when Nubank launches its planned Nasdaq IPO, according to press service reports. This is …

[ad_1] The Demo Day of the program will take place during the IX WeXchange Forum, which will be held virtually on December 1 and 2 WeXchange, the IDB Lab platform that connects women STEM entrepreneurs in Latin America and the Caribbean (LAC) with mentors and investors, and Google, announced the …

[ad_1] LAHOR: Tazah, a B2B agrotech marketplace connecting farmers directly to retail fruit and vegetable vendors, announced the raising of $ 2 million in pre-seed funding to repair the broken and inefficient agricultural supply chain that is increasing fruit and vegetable prices and leads to post-harvest waste. The pre-seed round …

[ad_1] COSTA MESA, Calif .– (COMMERCIAL THREAD) –MeridianLink, Inc. (NYSE: MLNK), a cloud-based technology company that enables banks, credit unions, mortgage lenders, specialist loan providers, and consumer information agencies (CRAs) to streamline taking decision and loan origination, as well as credit reporting and background check workflows, congratulate its banking and …

[ad_1] LexinFintech Holdings Ltd. with the ticker code (LX) now have 13 analysts covering the stock with the consensus suggesting a rating of “Buy”. The target price ranges between 17.98 and 7.19 with an average TP of 12.45. Now, with the previous closing price of 5.77, that would imply a …

[ad_1] The V20 Group of Finance Ministers concluded their meeting of senior officials by calling on the International Monetary Fund and related international financial institutions to step in with practical solutions for the delivery of the $ 100 billion a year pledged by developed countries in the framework of the …

[ad_1] COSTA MESA, Calif .– (COMMERCIAL THREAD) –MeridianLink, Inc. (NYSE: MLNK), announced today TazWorks, its leading technology platform for independent background check professionals, has launched a new feature that makes it easy to set up recurring background checks in the platform’s robust background check software. The new functionality gives HR …

[ad_1] COSTA MESA, Calif .– (BUSINESS WIRE) – Sep 27, 2021– MeridianLink, Inc. (NYSE: MLNK), a cloud-based technology company that enables banks, credit unions, mortgage lenders, specialist loan providers, and consumer information agencies (CRAs) to streamline taking loan decision and origination, as well as credit reporting and background check workflows, …

[ad_1] Without announcing new commitments, governments in Latin America have sought to unify their positions on climate policy two months before UN summit COP26 in Glasgow. At a high-level virtual event hosted by Argentina this week, presidents and ministers highlighted the impacts of the climate crisis on the region and …

[ad_1] Panama City, September 7, 2021.- To meet the financial needs of Panamanian micro, small and medium enterprises (MSMEs), as well as to help them recover and protect around 940 jobs, the Central American Bank for Economic Integration (CABEI) disbursed $ 61 million August 2020 to this day as part …

[ad_1] Pune, Maharashtra, Aug 6, 2021 (Wiredrelease) Market.Biz -:Have you ever wished you could predict the future of the peer-to-peer lending market? – and be right? What if you could clearly see critical changes in the months and years to come and use those insights to shape the future of …

[ad_1] MeridianLink, which provides cloud-based software solutions to financial institutions, announced the terms of its IPO on Monday. The Costa Mesa, Calif., Based company plans to raise $ 300 million by offering 12 million shares (17% secondary) in a price range of $ 24 to $ 26. New investor Darlington …

[ad_1] The global pandemic has hurt women and exacerbated inequalities. Private capital can help women-led / founded businesses and create digital solutions that address women’s issues. The UNICEF Innovation Fund invests in open source technology and aims to reach 50% of women-led investments in its portfolio. The COVID-19 pandemic has …

[ad_1] IRVINE, Calif .– (COMMERCIAL THREAD) – Pacific Premier Bancorp, Inc. (Nasdaq: PPBI), the holding company of Pacific Premier Bank (“Pacific Premier”), announced that Pacific Premier Bank has received the Corporate Responsibility Award from the Association for Corporate Growth (ACG) Orange County at the 2021 ACG Awards held on June …

[ad_1] Citi Treasury and Trade Solutions (TTS) in Latin America deployed its Citi digital account to help institutional clients digitize their banking experiences, eliminating the need for signature cards, check books or manual wet signature transactions, according to a statement Press. In addition, customers will benefit from a suite of …

[ad_1] MULTILATERAL development banks, the Asian Development Bank (AfDB) and the World Bank, have pledged to increase climate finance as the V20 Group called on developed countries to honor their climate aid commitments under the ‘Paris Agreement. The V20 group, made up of countries most vulnerable to climate change, including …

[ad_1] In Costa Rica, by virtue of the principle of autonomy of will and free contract, the possibility for all individuals to sign contracts under foreign law if they do not contravene the provisions of local public order. This principle, combined with a fairly liberal regulatory framework for individuals, allowed …

[ad_1] Bogota – June 28, 2021 (Investorideas.com Newswire) According to figures analyzed by Invest in Bogota, in 2020, local startups received an investment of more than $ 650 million, with fintech being one of the main industries. Fintechs are tools that allow greater and better access to financial services through …

[ad_1] The North Korean regime is using cybercrime as its main source of income as it faces crippling economic sanctions in response to its underground nuclear weapons development program, a former Mossad member said. Yana Blachman, a former member of the Israel Defense Forces elite 8200 unit who now serves …

[ad_1] The international community has stepped up pressure to demand a change of course by the regime led by Daniel Ortega in Nicaragua. On Tuesday, 59 United Nations countries signed a declaration condemning human rights violations in this Central American country and demanding the release of detained opponents, including five …

[ad_1] Under this program, the central bank will provide funds to financial institutions that increase lending and investment for activities aimed at combating climate change. * The BOJ keeps the rate targets unchanged * BOJ extends September deadline for pandemic relief program * The BOJ will encourage banks to increase …

[ad_1] The seaside town of El Zonte on El Salvador’s Pacific coast is a laid-back surfer’s paradise with white sands, palm trees and a small population of 3,000. The low-income community does not have banks and a single cash machine, but a pioneering local economy based largely on bitcoin. Signs …

[ad_1] By SIR RONALD SANDERS (The author is Antigua and Barbuda’s Ambassador to the United States and the Organization of American States. He is also a Senior Fellow at the Institute of Commonwealth Studies, University of London and Massey College. of the University of Toronto The opinions expressed are entirely …

[ad_1] Disclaimer: The views and opinions expressed by this author are their own and do not represent the official position of Barbados Today Inc. through Sir Ron Sanders Following the economic damage caused by the effects of the COVID-19 pandemic, countries on all continents of the world have turned to …

[ad_1] Muhammad Zamir | Published: May 30, 2021 8:59:58 PM Governments around the world are playing a crucial role in providing lifelines for people and businesses to help fight the pandemic and its economic fallout. To support the effectiveness of these efforts, it is important that these expenditures are also …

[ad_1] COSTA MESA, Calif. COSTA MESA, Calif .– (BUSINESS WIRE) – To support the collective recovery of businesses and consumers, Experian today announced its expansion into employer services and the release of its new suite of real-time income and employment verification products, Check Experianâ„¢. The COVID-19 pandemic has amplified the …

[ad_1] the Costa Rican real estate market is, without a doubt, one of the better investments and capitalizations that you can do today. Since there will always be someone looking for a property to rent, or better yet, if the location is strategic and the neighborhood’s added value increases, there …

[ad_1] COSTA MESA, Calif .– (BUSINESS WIRE) – To speed up the automation decision process and provide a transparent way for lenders to grant credit, Experian and Temenos today announced the integration of PowerCurve® business intelligence solutions in Temenos Infinity, the leading omnichannel digital banking product. Temenos Infinity covers the …

[ad_1] Homeownership for women in developing countries is a critical issue, writes Georgina Baker, vice president of the International Finance Corporation. It affects both living conditions and the ability of women to start and develop their own businesses. In Central America, less than 40% of women have access to a …

[ad_1] QCOSTARICA – The Central Bank (Central Bank) has increased its presence in the foreign exchange market to remove the upward pressure displayed on the US dollar exchange in recent days. The dollar exchange rate, which had remained between 610 ¢ and 616 ¢ this year on the Monex market, …

[ad_1] COSTA MESA, Calif .– (BUSINESS WIRE) – Experian® today announced Ascend Commercial Suite â„¢ for commercial lending financial institutions and insurers to drive growth while reducing risk. The suite includes Experian’s Ascend Analytical Sandbox â„¢ configurations and a new Ascend â„¢ Business Comparison dashboard that provides access to cutting-edge …

[ad_1] In order to better understand the profile of Latin American professionals born between 1980 and 1996, the Center for Collaborative and Female Leadership, of INCAE and the Citi Foundation, carried out the study Women Millennials Professionals, Workers, Urban, which included women from San José, Bogotá, Lima, Buenos Aires, Sao …

[ad_1] The terms of China’s loan agreements with developing countries are unusually secretive and require borrowers to prioritize repayment of Chinese state-owned banks before other creditors, a study of a cache of such contracts has shown. The dataset – compiled over three years by AidData, a US-based research lab at …

[ad_1] Climate change and its associated risks are now a major area of ​​focus for many central banks, as they strive to reduce the carbon footprint of the financial sector, invest more in “ green ” assets and ask financial institutions to develop resistance tests to climatic risks. Similar work …

[ad_1] National housing supply slowed in February, with housing starts falling by about 2,000 units on a monthly basis. The national trend in housing starts was 242,777 units last month, up from 244,963 units in January, according to new data from the Canada Mortgage and Housing Corporation (CMHC). The seasonally …

[ad_1] Seattle, WA – Age is just a number, but for millennials looking to buy a house, car, or even get a credit card, their denial of credit numbers don’t look good. “I’m really worried about this,” says Ted Rossman, industry analyst for Credit Cards.com. According to a national survey, …

[ad_1] Overview of the Company’s activities and risks Greene County Bancorp, Inc.'s results of operations depend primarily on its net interest income, which is the difference between the income earned on Greene County Bancorp, Inc.'s loan and securities portfolios and its cost of funds, consisting of the interest paid on …

[ad_1] Some relief may be on the way for business owners and individuals trying to find a way to repay their loans during the novel coronavirus crisis. The Federal Deposit Insurance Corp, which insures bank deposits, this week urged banks to “show understanding” and work with customers affected by COVID-19, …

[ad_1] What is an advance rate? A cash advance rate is the percentage of the value of the collateral one lender is ready to make a loan. The advance rate helps a borrower determine what type of collateral to bring to the table to secure the desired loan amount and …

[ad_1] What is a Debt Cancellation Contract (CDC)? A Debt Cancellation Agreement (CDC) is a contractual agreement modifying the terms of the loan. As part of the debt cancellation contract, a bank agrees to cancel all or part of a customer’s obligation to repay a loan or credit. These contracts …