What Are Aztech Recognition Agreements
In return, the lender undertakes to make payments on behalf of the defaulting shareholder. They thus prevent the cooperative from preventing enforcement. Banks issue Aztech contracts. Terms that must be mutually agreed between the three parties before a loan can be concluded. After release and acceptance, it will be included in the board package. The purpose of the agreement is to protect the cooperative in the event of default. In return, the lender`s security right is protected. However, some co-ops require the use of their recognition agreement and do not accept the lender`s version. Here we will break it down for you and explain what it is and how it works. As you will see, this has nothing to do with Mexican history and everything to do with the pension packages of buyers financing a cooperative purchase. .