Servicing Agreement
From Open Risk Manual
Definition
The Servicing Agreement between the Managing Company and a third party Servicer governs the day-to-day operations of the Issuer in respect of processing asset related issues (both scheduled and unscheduled)
Details
The agreement will lay out in detail how the Service will
- provide administration services in relation to the collection of the Transferred Receivables;
- provide services in relation to the transfer of the Collections to the Issuer and of al l amounts payable by the Servicer and/or the Seller under the Servicing Agreement to the Issuer;
- provide data administration and cash management services in relation to the Transferred Receivables; and
- report to the Management Company on a regular basis (e.g monthly) on the performance of the Transferred Receivables.
Variations
None
Issues and Challenges
The net cash flows arising from the Transferred Receivables may be affected by decisions made, actions taken and the Servicing Procedures adopted and implemented by the Servicer.
See Also
None
Disclaimer
- This information is provided as is without any representation of correctness, completeness or suitability for any purpose whatsoever. Refer to actual securitisation prospectuses for the definitive terms applicable in each case
- Definitions, detailed descriptions and other content may change at any time as further examples or relevant aspects are introduced
