Bank Paper | Medium Term Notes

Unfortunately, it seems to be a regular occurrence where people claim to have the ability to deliver a product and truly don't... most of the time due to their misrepresentation, some of the time due to circumstances beyond their control.

In order to effectively put a Principal buyer together with a specific opportunity, we ask each buyer to complete the downloadable request form-a "wish list" if you will, for each of the paper they are looking for.

The more specific the description of the instrument the buyer wants, the closer we can come to finding them what they are looking for. Otherwise, it's like walking into a grocery store filled with thousands of items and asking someone to 'show me what you got'. Waste of Time.

As buyers and sellers come together, they can be directed to each other when there is a fit that is close, or exact. If you know where you are going, getting there is a lot easier.

For legal reasons as mentioned above, paper sellers want to see the Buyer prepare either a Letter of Request or an LOI.

Some Buyers ask that the Seller provides some kind of letter or ISIN or CUSIP numbers. What they don't realize by asking that is they ask the Seller to SOLICIT an offer. Until a Seller has cleared the Buyer and his/her money, and provided a non-solicitation statement, the Seller can be looking at fines or jail time.

The Sellers are very cautious about this, even if the particular instrument is not subject to Solicitation rules. They tend to err on the side of caution.

This opens the door for a conversation once the seller has had a chance to look over the buyer's request and do a quick due diligence check. It helps even more if a Non-Solicitation Letter or clause is included to better ensure compliance.

Because the owner of an instrument is prohibited by law from soliciting, or appearing to solicit, someone to buy their paper, all initial conversations about it must start from the buyer.

The seller cannot send out a LOI or other documents without first having been approached by the buyer prospect.

So many buyers want to see the seller's LOI first, they don't realize they are actually asking for the seller to break the law!

This is many times the reason a buyer is unsuccessful.

Without even knowing it, they have demonstrated a lack of understanding of the manner in which a transaction is facilitated, and sent that message to the seller, who naturally will decline any reply or response.

The role that I play is to facilitate the information about a buyer to an owner or seller of the paper desired, which helps overcome the issue of putting the seller at legal risk for being seen as soliciting.

If I am not acting as the principal in the deal, simply providing the opportunity for a meeting of the minds with a buyer/seller is much like posting a "Want to Buy" notice, and having that delivered personally directly to a possible opportunity.

As of last week, I am DIRECT to several platforms managers and owners as well as certain banks. I am connected generally either to the provider's representative, or rarely no more than 1 away.

In the case where other intermediaries might be involved in bringing the end buyer to the table, they must stand back immediately and allow for direct conversations to be facilitated with the buyer principal. However, if there is a chain of more than one broker between the Principal and you, we will most likely not be interested in discussing it.

Group conference calls and broker interference in any way automatically kill the deal. If there is no one on the phone who can sign a contract or write a check, there is no reason to talk.

Compensation is generally broken into two categories: Full Share and Referral Group.

A Full Share of a box may be shared by those who are doing the heavy lifting in a deal, versus those would be considered a Referral Fee recipient-making a phone call or email to introduce the parties is not an entitlement to a full share of a box.