📓Loan Confirmations

Learn more about Loan Confirmations.

The purpose of a Loan Confirmation is to confirm the terms and condition of the Loan entered into under the Master Loan Agreement. Loan Confirmations are legally binding documents issued to each Lender via email on the day of Loan Commencement.

Loan Confirmations contain the key terms of loans made through the platform, including:

Field	Description
Loaned Asset	The digital asset being lent; only USDC at this time.
Loan Amount	The principal of the loan in USDC.
Confirmed Loan Fee Rate	The fixed rate of interest payable to Lenders
Advisory Fee Rate	The % per annum paid by the Borrower to Five Sigma Finance Ltd
Platform Fee Rate	The % per annum paid by the Borrower to OpenTrade Technology Ltd
Contractual Currency	The underlying contractual currency in which assets and liabilities are denominated for audit and accounting purposes.
Collateral	The collateral securing the loan; can only be USD, USDC, and US Treasury Bills for the Treasury Management Product
Settlement Date	The date by which the Lender must deliver Loaned Assets to the Borrower
Loan Commencement Date	The date on which the Loan commences and interest and fees begins accruing.
Payment Date	The date on which the Borrower will deliver back to the Lender the Loan Amount plus Confirmed Loan Fee accrued in USDC, as well as when the Borrower will pay other fees specified under the Loan Confirmation.
Early Withdrawal Processing Period	The number of business days required to process Early Withdrawal Request(s) and deliver back to the Lender the Early Withdrawal Amount in USDC. The Early Withdrawal Amount will be delivered back to the Lender for withdrawal on or before Close of Business on the Business Day after the completion of the Early Withdrawal Processing Period.
Early Withdrawal Request Fee Percentage	When the Lender requests to terminate a Loan (in part or in whole) via an Early Withdrawal Request, a fee equal to the amount of the Loan multiplied by the Early Withdrawal Request Fee Percentage set out in the Confirmation with respect to such Loan will be deducted from the amount of the Loan to be terminated and paid to the Platform Provider.
Loan Maturity Date	The date on which the Loan terminates.
Automatic Roll-Over	By default, all loans have Automatic Roll-Over selected. Should a lender wish to change this, they can submit a Roll-Over Termination Notice via the Platform and the Loan will be repaid on the Payment Date.
Roll-Over Collateral	The eligible collateral to be used for the Roll-Over Loan; for this product it can only be US Treasury Bills, USD, and USDC.
Roll Date	The date on which the Rollover Loan commences, which is always the same business day as the Loan Maturity Date of the prior Loan(s).