FAQ
What exactly is required for onboarding & registration as a buyer or seller?
Confidential information, shared only with the bank.
- Incorporation Certificate
- Articles/Memorandum of Association
- Names of all Shareholders (Copy ID if individual, Incorporation Certificate if Corporate)
- Names of all Directors (Copy ID of all directors)
- Do the Shareholders own any other entity and are the current Directors, Directors of any other entity? (If so, full details are required)
- For non Tier 1 companies a Proof of Funds (Minimum US $1m excluding primary residence) Please note only the following documents can be accepted as proof of funds:
- Account statements of the company or one of the shareholders with the bank stamp on the bank’s letter head paper (It should be $1m USD and above)
- Audited financial report of the client’s company (It should be $1m USD and above)
- Certificate of ownership for any assets that the company or one of the shareholders of the company own (It should be $1m USD and above)
- Source of Funds
- Proof of Address (Tenancy contract, utility bills)
*This information along with directions for submission will be listed within the exchange portal and will be visible upon registration for The Exchange.
HOW ARE COMMISSIONS HANDLED?
Commissions are paid to the structure submitted for each transaction according to buyer and seller agreement and IMFPA.
HOW ARE ROLLS AND EXTENSIONS HANDLED?
Sales and Purchase agreement specific terms determine the methods used for rolls and extensions.
WHO FACILITATES THE NCNDA?
Glove Hub USA can provide this service.
HOW ARE brokers and mandates included in this process?
All parties are encouraged to bring buyers and sellers to the exchange. Compensation will be structured for each transaction according to agreed upon terms.
WHO IS THE ICPO ADDRESSED TO?
The qualified seller.
WHO CREATES THE IMFPA AND THE SPA?
Glove Hub USA can provide this service, or this can be done with mutually agreeable party.
HOw do you ensure ongoing qualification of members?
Qualified buyers and Sellers are required, periodically as requested by the bank, to update their information.
How is OTG product handled vs production?
Available OTG product will be posted on the PPE exchange from the website separately from production offers. Buyers and Sellers are matched the same way.
ARE TRANSACTION FEES CONSIDERED PART OF THE COMMISSIONs?
No these are separate service processing fees covered as expenses associated with the transaction. However, SPA deal structure will determine final commissions.
Have more questions? Email us at info@glovehubusa.com.