Off-Chain Procedures

KYC/AML Checks

Lendscape implements rigorous Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures:

  1. Identity Verification:

    • Submission of government-issued ID

    • Proof of address (utility bill, bank statement)

    • Facial recognition check

  2. Background Checks:

    • Screening against global sanctions lists

    • Politically Exposed Person (PEP) checks

  3. Source of Funds:

    • Declaration of fund sources

    • Verification of income or asset ownership

  4. Risk Profiling:

    • Assessment of borrower's risk level

    • Determination of appropriate loan limits

Deal Structuring and Legal Documentation

The platform assists borrowers in structuring their deals and preparing necessary legal documentation:

  1. Loan Agreement:

    • Detailed terms and conditions

    • Repayment schedule

    • Collateral specifications

    • Default clauses and consequences

  2. Collateral Agreement:

    • Description of the tokenized RWA

    • Terms of collateral transfer and storage

    • Conditions for collateral release or liquidation

  3. Legal Review:

    • Platform's legal team reviews all documents

    • Ensures compliance with relevant jurisdictions

  4. Digital Signing:

    • Secure electronic signature process

    • Timestamp and blockchain record of agreement

  5. SPV Creation (if applicable):

    • For complex RWAs, creation of Special Purpose Vehicle

    • Legal documentation for SPV structure and ownership

By following these comprehensive procedures, Lendscape ensures a secure, compliant, and transparent borrowing process for all participants

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