Offshore Banking
Offshore banking or Offshore banks refers to the many banking and investment institutions available in countries and jurisdictions other than the depositor’s home country. While technically any bank can be considered an Offshore bank when it meets the above criteria, the term is generally reserved for the banking institutions located in what are consider low-regulation, low-taxation “haven” jurisdictions.
Since their origin, Offshore banks tended to be unfairly portrayed by both media and the home jurisdictions alike--the accusations have ranged from tax evasion to money laundering, but careful examination of the true purpose of the Offshore banks, and an unbiased examination of where illicit funds are truly held or “laundered” sheds light on the situation. Other false accusations have centered around criticism of unsafe environments, poor regulation, etc. Again, these could not be further from the truth. Most Offshore banking jurisdictions of any repute have very sophisticated, stable banking regulations, and because it is in their best interest to attract and keep depositors, these regulations are geared towards meeting the needs of the depositor. Many of these jurisdictions rely on foreign capital held in their banks as their primary economic factor, and as their only source of foreign investment.
What is Offshore Banking?
The broad definition of an Offshore bank is that of a bank that is located in a jurisdiction or country that is different from the jurisdiction or country that the depositor or investor resides in. One of the many benefits of holding an Offshore banking account is that they are usually located in tax havens that provide substantial asset protection and confidentiality benefits to the account holder. These jurisdictions also often allow for a relaxation of restrictions with respect to the types of accounts available to depositors or investors, and how then can manipulated. This amounts to decreased regulation. The more popular offshore jurisdictions often provide a substantial decrease in tax liability. While technically any bank outside of a depositor’s home country can be called an “offshore bank,” for our purposes here we will focus only on those proven to provide quantifiable benefits as outlined above. These Offshore banks can be located in actual island-states such as the Caymans or Channel Islands, or in landlocked countries such as Switzerland--being surrounded by water is no longer a determining factor.
As mentioned in our opening paragraph, there are a number of misconceptions and myths associated with offshore banking in these offshore financial centers… Are Offshore Banks the Haven of Money Launderers and Criminals? We have additional information on Offshore Banking Myths that should be taken into consideration.
Where Should an Offshore Bank Account be Established?
It is important that the proper jurisdiction be selected when deciding which jurisdiction to use as an offshore banking jurisdiction. The majority of the offshore jurisdictions have prudent, sound regulations in place geared towards safeguarding the deposits and maintaining their confidentiality. However, some weigh their benefits in taxation, while others in confidentiality, and so forth. Though they all offer a comparatively confidential and secure environment, it bears consideration to outline what the banking goals are and then choose the jurisdiction accordingly. A small minority of the offshore jurisdictions do a poor job of managing and regulating their banking institutions, but the informed investor or advisor will deem these as unsuitable for themselves or their clients. Further, these poorly organized and run jurisdictions are often manipulated by illicit depositors and hence prove easy targets of the FATF (Financial Action Task Force) looking for money laundering or other criminal activity.
Offshore Banking History
It is an unfortunate fact that Europeans have always been subjected to relatively heavy tax burdens. This was as true on the British Isles as it was on the continent. Faced with the prospect of watching their hard earned assets and wealth diminish with every out-reach of the tax collector’s hand, they were ripe for a solution. And a solution came--the small, island nation state known as the Channel Islands convinced these frustrated depositors that deposits placed in its banks could be free from scrutiny and hence the heavy-handed taxation burden. The Euros were convinced--and soon this service thrived, with other small jurisdictions becoming savvy to this foreign capital-attracting status and they began to revamp their banking institutions, adopting sound, pragmatic banking rules and regulations that eased the potential concerns of investors and depositors. The Offshore bank was off to a running start!
And soon the term “Offshore banking” became synonymous with any smaller, haven jurisdiction that offered safe, secure, confidential banking with practical regulations. Soon the rest of the world was “in the know,” and began to look at these havens as viable solutions to their needs. Americans, Africans, Asians, etc., found these Offshore banks quite useful for a myriad of reasons. Unlike their banks at home, these Offshore banks were not regularly subjected to political turmoil or economic strife, and were most welcome for their stability and asset protection benefits.
In the years since they have come into greater use and thus more visible, offshore banks and accounts have been unfairly portrayed by the media and by the larger jurisdictions as the stomping grounds of the criminal underground--a veritable haven for their illicitly-obtained assets and funds, or the choice locales for their money-laundering schemes. Money-wise investors and depositors have long known that these prejudices could not be further from the truth. They know that offshore banks can be remarkably effective havens for assets and funds in need of safe, secure, confidential keeping. They know that these banks can safeguard their funds from the perils of civil, economic, or political strife in their home countries. Today, offshore banks continue to keep their end of the bargain and continue to provide a safe, confidential haven for those seeking to safeguard their assets and funds from the perils of undue regulation and taxation.
Many a discriminating depositor has benefited from the safe, confidential, and low taxation environment that Offshore banking has to offer. While it is important to assess your goals and discuss these with a competent, experienced agent before leaping into un-chartered waters, there are many unquestionable benefits provided by establishing an Offshore account. Their reputation among depositors and investors for providing a viable banking location featuring protection from liability and confidentiality is growing, and Offshore banks will continue with this hard-earned reputation for asset protection, tax reduction, and superb confidentiality of deposits.
About The Author
Kevin Wessell, renowned asset protection and estate planning expert offers offshore incorporation information and consulting for offshore banking and trusts at http://www.offshorecompany.com. For more information like this, visit http://www.offshorecompany.com/banking/.
Showing posts with label Insurance. Show all posts
Showing posts with label Insurance. Show all posts
Friday, May 1, 2009
All You Need to Know About Swiss Banking by: Joseph Kenny
There is a common misconception that people who cannot store their unaccounted wealth in their own country open accounts in Swiss banks. Even though this may be true to an extent, Swiss banks are well known for their sophisticated and discreet banking services.
Many of the rich and famous like film stars, business entrepreneurs, top government officials, presidents, etc, are reputed to have Swiss bank accounts. Then again, it is also said one need not be a multi-millionaire to open a Swiss bank account.
Brief Background of the Swiss Banking System
One of the most prosperous and economically advanced nations, Switzerland has the world’s largest gross domestic product (GDP). There are nearly 400 banks in Switzerland, which range from the “Two Big Banks”, to smaller banks, serving single communities or selective clients. Considered as the world’s largest offshore financial center, the Swiss banking sector is renowned for its privacy, stability and protection of their customer’s information and assets. The Federal Banking Commission (FBC) regulates these banks.
Opening a Swiss Account
Often freely available, a Swiss bank account provides total confidentiality, strict privacy, and is tax-free. However, certain documents are required as proof to open a Swiss account. For example, people who are not residents of Switzerland need to furnish their passports, along with a passport size photograph. Depending on the profession, a current bank statement would be required to determine the client’s current financial condition. Along with this, certain personal information, like the date of birth, country of origin, etc., is also required.
A useful feature of Swiss banking is that it can also be done via correspondence as long as the customers follow bank rules and regulations. The bank and customer could interact through the Internet, telephone or snail mail.
However, a drawback of Swiss banking is that non-residents are expected to pay a hefty amount as deposit, and, the smaller accounts are more expensive to maintain. There is a clause especially for US citizens wherein they are expected to refrain from making any business transaction through their Swiss accounts, to keep their account privacy intact.
Deposit
A security deposit is needed in case the customer wants to obtain a credit card. Approximately 1.5 to 2 times the monthly credit limit is demanded, depending on the bank the customer chooses. This deposit is returned when the customer decides to discontinue the credit card, and has paid all outstanding bills.
Confidentiality
There are legends about mysterious numbered accounts in Swiss banks. Some high security bank accounts are given pseudonyms or special names instead of issuing them in the name of the customer, to preserve the anonymity of the customer. This number or name is used wherever the customer is referred. Moreover, even bank employees are expected to respect the customer’s privacy, the failure of which could land them in prison for several months.
However, Swiss banks, being very particular about preventing money laundering, crosscheck the authenticity of the information provided by the customer. If, during the scrutiny, the bank finds the information of a potential or existing customer connected to some criminal activity, a Swiss judge or prosecutor issues a lifting order. These investigations could include international criminal investigation for tax fraud, insider trading, or the infamous terrorist financing of recent times.
Closing of an Account
Despite a few negative notions about Swiss banking, closing an account is said to be easier than expected. No financial penalty is demanded, and neither is the money held hostage, like it is done in other off shore banking.
To conclude, the secrecy and discreet nature of Swiss banking makes them convenient and dependable. This not only helps customers to save money, but also is a viable means of attaining economic superiority in the business world and society as a whole.
About The Author
Joe Kenny writes for the Credit Card Guide, offering the latest UK credit cards, visit today for introductory 0% balance transfers and start clearing credit card debt today.
Visit today: http://www.cardguide.co.uk/
Many of the rich and famous like film stars, business entrepreneurs, top government officials, presidents, etc, are reputed to have Swiss bank accounts. Then again, it is also said one need not be a multi-millionaire to open a Swiss bank account.
Brief Background of the Swiss Banking System
One of the most prosperous and economically advanced nations, Switzerland has the world’s largest gross domestic product (GDP). There are nearly 400 banks in Switzerland, which range from the “Two Big Banks”, to smaller banks, serving single communities or selective clients. Considered as the world’s largest offshore financial center, the Swiss banking sector is renowned for its privacy, stability and protection of their customer’s information and assets. The Federal Banking Commission (FBC) regulates these banks.
Opening a Swiss Account
Often freely available, a Swiss bank account provides total confidentiality, strict privacy, and is tax-free. However, certain documents are required as proof to open a Swiss account. For example, people who are not residents of Switzerland need to furnish their passports, along with a passport size photograph. Depending on the profession, a current bank statement would be required to determine the client’s current financial condition. Along with this, certain personal information, like the date of birth, country of origin, etc., is also required.
A useful feature of Swiss banking is that it can also be done via correspondence as long as the customers follow bank rules and regulations. The bank and customer could interact through the Internet, telephone or snail mail.
However, a drawback of Swiss banking is that non-residents are expected to pay a hefty amount as deposit, and, the smaller accounts are more expensive to maintain. There is a clause especially for US citizens wherein they are expected to refrain from making any business transaction through their Swiss accounts, to keep their account privacy intact.
Deposit
A security deposit is needed in case the customer wants to obtain a credit card. Approximately 1.5 to 2 times the monthly credit limit is demanded, depending on the bank the customer chooses. This deposit is returned when the customer decides to discontinue the credit card, and has paid all outstanding bills.
Confidentiality
There are legends about mysterious numbered accounts in Swiss banks. Some high security bank accounts are given pseudonyms or special names instead of issuing them in the name of the customer, to preserve the anonymity of the customer. This number or name is used wherever the customer is referred. Moreover, even bank employees are expected to respect the customer’s privacy, the failure of which could land them in prison for several months.
However, Swiss banks, being very particular about preventing money laundering, crosscheck the authenticity of the information provided by the customer. If, during the scrutiny, the bank finds the information of a potential or existing customer connected to some criminal activity, a Swiss judge or prosecutor issues a lifting order. These investigations could include international criminal investigation for tax fraud, insider trading, or the infamous terrorist financing of recent times.
Closing of an Account
Despite a few negative notions about Swiss banking, closing an account is said to be easier than expected. No financial penalty is demanded, and neither is the money held hostage, like it is done in other off shore banking.
To conclude, the secrecy and discreet nature of Swiss banking makes them convenient and dependable. This not only helps customers to save money, but also is a viable means of attaining economic superiority in the business world and society as a whole.
About The Author
Joe Kenny writes for the Credit Card Guide, offering the latest UK credit cards, visit today for introductory 0% balance transfers and start clearing credit card debt today.
Visit today: http://www.cardguide.co.uk/
The Future of Offshore Banking, Corporations and Foundations by: Ronald Edwards
First it needs to be stated that no one has a crystal ball which predicts the future. These thoughts are just opinions and should be taken as such not as legal or tax advice. We will try to show the political positions of the countries that are not in favor of the tax haven offshore jurisdictions and the position of the tax haven countries. The countries most outspoken against offshore banking and offshore corporations are Australia, UK and USA.
Today there is a great outcry from these and other countries about the tax saving benefits afforded to citizens of certain countries by going offshore. These countries claim that their constituents are cheating them out of billions of dollars of taxes by going offshore. The offshore jurisdictions that are considered the tax havens say that is a nice allegation but we are not your collection agency and do not ask us to change our bank and corporate privacy laws because your constituents do not want to pay taxes, this is your problem not ours. The actual amount of taxes that are avoided unlawfully is a figure that one can only take a guess at. Many people set up offshore structures to do business outside of their home country and are not in violation of any laws the way they conduct their business affairs. Many people live in other countries and need to own offshore bank accounts, offshore corporations, offshore real estate, etc. Many people use offshore privacy to protect themselves from identity theft, kidnapping, blackmail, and possible extortion.
Let me use an analogy to make a point. In Latin America there is an organization of five states called Mercosur. Mercosur consists of Argentina, Brazil, Paraguay, Venezuela, and Uruguay. Mercosur also has associate members which are as follows: Chile, Bolivia, Peru, Columbia and Ecuador. The Mercosur countries engage in free trade and easy border controls with no passports, just national identity cards for border crossings. Mercosur recently issued a statement that they would in the future strive to resist any further attempts to get them to spend more resources on narcotics enforcement that stems from the UN. The UN says its member countries must enact certain kinds of laws to control narcotics and states these laws and insists on enforcement policies. The Mercosur spokesperson stated that this was an irrational policy since it has not worked for over a quarter of a century and it was severely draining the resources of their countries. Essentially they said they were sick and tired of the United States which is the nation driving these policies through the UN, making their problems, the problems of other countries and they were going to collectively attempt to legalize narcotics in their own nations to free themselves from this heavy burden of narcotics enforcement. This has already begun to happen in Bolivia, Paraguay, Argentina and Venezuela with the abundant legal availability of cocoa leaf. The cocoa leaf has cocaine alkaloids (real cocaine) and is commonly used as a chew like chewing tobacco leaf or made into tea leaves. Street cocaine is perhaps 30 times as potent and is diluted with harmful substances like turpentine, ether, etc. Cocoa leaf is a natural plant product used for centuries as a stimulant by people living in the high altitudes of Bolivia, farm workers etc. One can now see coca tea being sold freely on the internet but I would strongly advice you not to order any because you may get charged with narcotics importation, seriously because it can be lab tested to contain cocaine. So my point is a lot of countries have said ok enough is enough when it comes to narcotics. It is not working leave us alone, take care of your own problem. So Mercosur countries are now worrying about their own problems more and less about the narcotics issues in the USA and other nations. I think you will see more of the same type of thinking when it comes to offshore banking, offshore corporations, offshore foundations, offshore stock brokerage accounts etc.
Offshore jurisdictions have to go through all sorts of compliance that is not needed in say the USA or the UK. One offshore formation agent went to the USA and was able to open eight USA bank accounts in one day. In Panama a bank account can take five days after you collect and submit the reference letters and documents. In the USA and UK no bank reference letters are required to open a bank account, neither are any professional references required. In the USA and UK they do enforce money laundering protective measures strictly. One can buy USA corporations or UK corporations without any of the due diligence requirements that are required from offshore jurisdictions. So the playing field is not exactly level yet these countries are screaming for more controls not on themselves but on other countries. It seems that the offshore jurisdictions will scream enough is enough if any further controls are imposed on them and resist them. Of course one wonders what further controls they could come up with that they haven’t already imposed.
Let’s look at history a little to see how things deteriorated in the past regarding offshore privacy and offshore banking. Most of the older offshore tax havens are also tourist destinations such as Cayman Islands, Nassau, Bermuda, Grenada, Belize etc. These countries usually have little if any natural resources and need to bring in everything they consume. While some of them avoid income taxes instead they impose taxes on goods imported. These countries got heavily involved in tourism as a way to keep their economies moving. A cruise ship docking at these ports usually carries 2500 people. Each person probably spends an average of $100 a day when in this ports buying t-shirts, duty free liquor, tobacco, jewelry etc. many spend a good deal more. That is $250,000 per cruise ship. These jurisdictions get from 3 ships per week, to 40 ships per week docking there. The money from the cruise ships exceeds what would be earned from their previous offshore banking and incorporation activities. Remember a bank that controls hundreds of millions of dollars of deposits can only have 50 or so employees. A thriving cruise ship port can have thousands of employees working in the shops, restaurants, as tour guides, taxi drivers etc. So more jobs are at stake in the tourism business. We also have to take into account the resorts these countries have which create even more jobs and generate revenue in the form of a hotel room tax built into the rates. These countries also charge a head tax on every person coming into their country. Bottom line is there is much more money in the tourism business than there is the offshore business for the government of these jurisdictions. The governments of these countries don’t make much off of a bank account for instance, actually nothing. They have no income or capital gains tax. The offshore corporations would pay a few hundred dollars a year in taxes but that was it. The banks would pay a few thousand dollars a year for their licenses. So these countries sold out on offshore privacy to protect their tourism. If they did not do so the countries allowing tax free importation from these countries of tourist bought items might go away. Tourists returning from these countries by ship or air might find themselves stuck in long lines while they are searched and interrogated by authorities of various affected countries which would quickly and seriously discourage tourism to these countries. Other countries like Switzerland, Lichtenstein, and Luxembourg sold out due to pressure from the EU. But now we are seeing a reversal in position regarding the EU, not much of a reversal but at least a sigh of OK enough is enough.
In recent months the USA was exposed by the New York Times Newspaper in a scandal whereby they were monitoring SWIFT wire transactions for some years. SWIFT is a private company that enables banks to communicate with each other securely including sending wire transfers. SWIFT machines require a separate terminal and line so as to make them most secure. The USA served a court order on the SWIFT people in New York to turn over all the data they requested and gag ordered them to not mention what was going on. It went on for two years. This got the EU nations most upset. While they have not actually prosecuted the SWIFT people for violating the banking laws of the various European nations affected, there was serious talk of it. Whether or not obeying a USA court order to violate the banking laws of other nations is a viable defense has never been tested in any court, yet anyway. The EU position on this was they must get the USA to understand their banking laws call for privacy. This of course is not exactly giving ground for more privacy invasive laws which is what we mean by a reversal.
Today the most privacy oriented jurisdiction in the world is Panama. Panama has 400,000 corporations registered there. Panama requires corporation formation agents to be lawyers and their know your client rules are strict and call for criminal penalties if not followed. Panama banks follow tight anti-money laundering laws as well as know your customer laws. Panama does still allow for anonymous bearer share corporations which do not require the entry into any registry of any ownership names or identities. The anonymous bearer share corporations combined with Panama bank secrecy laws make for the best privacy in the world today. Panama foundations are also anonymous with no owners, beneficiaries or protectors names appearing in any registry or database. Panama is also in no tax treaty with any other country and is fairly unique in this regards. Of course one can ask the question if Panama can sustain their practices under pressure from other nations.
First off Panama does follow the FATF (Financial Action Task Force) practices. Secondly Panama does not exactly have a lot of tourism, actually it has quite a small amount of tourism and most of their tourism comes from Latin America not the EU or USA. This means there is no meaningful tourism that can be taken away. Panama is a small country and 15% to 20% of the workforce is employed by the international banks. Panama has 400,000 corporation registered there who each pay $300 in annual corporate taxes. This comes to $120,000,000 dollars and this is for a country of 2.9 million people. Also consider these corporations are paying for resident agents, nominee directors etc. Then we get into Panama Foundations which also collect $300 in annual taxes each year plus nominee council member fees. Panama will and has resisted attempts to compromise banking secrecy and corporate secrecy.
Again let us look towards history to see what we can learn, this time focusing on anonymous bearer share corporations. The issue with anonymous bearer share corporations is that when the international wires are monitored it is impossible to tell who the natural persons are behind the bearer share corporations sending or receiving the wires. The British Virgin Islands used to offer anonymous bearer share corporations. A few years ago they gave in to pressure from the UK and stopped issuing new bearer share corporations but they did make allowances for the existing bearer share corporations to remain anonymous for 10 years. After that time they would need to dissolve or operate in a non-anonymous mode. If we want to look on the dark side we can consider Panama doing the same if international pressure ever built up sufficiently to force a change. So of course those owning an existing bearer share corporation would be unaffected for ten years and these corporations would probably go up significantly in value on the secondary market. We have absolutely no indications subtle or otherwise that anything is going to change in Panama.
It is also a possibility that some other nations may enter into the bank secrecy arena in the near future and some other nations may return to bank secrecy as well. Only time will tell. Nothing we see gives any inkling of an idea that Panama will reverse on its position of bank and corporate privacy and it appears that things may have already sunk to an all time low and offshore banking and corporate privacy may actually soon start to improve, first with the wire transfer system and later on in other areas.
About The Author
Ronald Edwards is a researcher, with years of experience in finances and real estate.
For more information, please visit:
http://www.panamalaw.org
email at: panamalegal@hush.com
Today there is a great outcry from these and other countries about the tax saving benefits afforded to citizens of certain countries by going offshore. These countries claim that their constituents are cheating them out of billions of dollars of taxes by going offshore. The offshore jurisdictions that are considered the tax havens say that is a nice allegation but we are not your collection agency and do not ask us to change our bank and corporate privacy laws because your constituents do not want to pay taxes, this is your problem not ours. The actual amount of taxes that are avoided unlawfully is a figure that one can only take a guess at. Many people set up offshore structures to do business outside of their home country and are not in violation of any laws the way they conduct their business affairs. Many people live in other countries and need to own offshore bank accounts, offshore corporations, offshore real estate, etc. Many people use offshore privacy to protect themselves from identity theft, kidnapping, blackmail, and possible extortion.
Let me use an analogy to make a point. In Latin America there is an organization of five states called Mercosur. Mercosur consists of Argentina, Brazil, Paraguay, Venezuela, and Uruguay. Mercosur also has associate members which are as follows: Chile, Bolivia, Peru, Columbia and Ecuador. The Mercosur countries engage in free trade and easy border controls with no passports, just national identity cards for border crossings. Mercosur recently issued a statement that they would in the future strive to resist any further attempts to get them to spend more resources on narcotics enforcement that stems from the UN. The UN says its member countries must enact certain kinds of laws to control narcotics and states these laws and insists on enforcement policies. The Mercosur spokesperson stated that this was an irrational policy since it has not worked for over a quarter of a century and it was severely draining the resources of their countries. Essentially they said they were sick and tired of the United States which is the nation driving these policies through the UN, making their problems, the problems of other countries and they were going to collectively attempt to legalize narcotics in their own nations to free themselves from this heavy burden of narcotics enforcement. This has already begun to happen in Bolivia, Paraguay, Argentina and Venezuela with the abundant legal availability of cocoa leaf. The cocoa leaf has cocaine alkaloids (real cocaine) and is commonly used as a chew like chewing tobacco leaf or made into tea leaves. Street cocaine is perhaps 30 times as potent and is diluted with harmful substances like turpentine, ether, etc. Cocoa leaf is a natural plant product used for centuries as a stimulant by people living in the high altitudes of Bolivia, farm workers etc. One can now see coca tea being sold freely on the internet but I would strongly advice you not to order any because you may get charged with narcotics importation, seriously because it can be lab tested to contain cocaine. So my point is a lot of countries have said ok enough is enough when it comes to narcotics. It is not working leave us alone, take care of your own problem. So Mercosur countries are now worrying about their own problems more and less about the narcotics issues in the USA and other nations. I think you will see more of the same type of thinking when it comes to offshore banking, offshore corporations, offshore foundations, offshore stock brokerage accounts etc.
Offshore jurisdictions have to go through all sorts of compliance that is not needed in say the USA or the UK. One offshore formation agent went to the USA and was able to open eight USA bank accounts in one day. In Panama a bank account can take five days after you collect and submit the reference letters and documents. In the USA and UK no bank reference letters are required to open a bank account, neither are any professional references required. In the USA and UK they do enforce money laundering protective measures strictly. One can buy USA corporations or UK corporations without any of the due diligence requirements that are required from offshore jurisdictions. So the playing field is not exactly level yet these countries are screaming for more controls not on themselves but on other countries. It seems that the offshore jurisdictions will scream enough is enough if any further controls are imposed on them and resist them. Of course one wonders what further controls they could come up with that they haven’t already imposed.
Let’s look at history a little to see how things deteriorated in the past regarding offshore privacy and offshore banking. Most of the older offshore tax havens are also tourist destinations such as Cayman Islands, Nassau, Bermuda, Grenada, Belize etc. These countries usually have little if any natural resources and need to bring in everything they consume. While some of them avoid income taxes instead they impose taxes on goods imported. These countries got heavily involved in tourism as a way to keep their economies moving. A cruise ship docking at these ports usually carries 2500 people. Each person probably spends an average of $100 a day when in this ports buying t-shirts, duty free liquor, tobacco, jewelry etc. many spend a good deal more. That is $250,000 per cruise ship. These jurisdictions get from 3 ships per week, to 40 ships per week docking there. The money from the cruise ships exceeds what would be earned from their previous offshore banking and incorporation activities. Remember a bank that controls hundreds of millions of dollars of deposits can only have 50 or so employees. A thriving cruise ship port can have thousands of employees working in the shops, restaurants, as tour guides, taxi drivers etc. So more jobs are at stake in the tourism business. We also have to take into account the resorts these countries have which create even more jobs and generate revenue in the form of a hotel room tax built into the rates. These countries also charge a head tax on every person coming into their country. Bottom line is there is much more money in the tourism business than there is the offshore business for the government of these jurisdictions. The governments of these countries don’t make much off of a bank account for instance, actually nothing. They have no income or capital gains tax. The offshore corporations would pay a few hundred dollars a year in taxes but that was it. The banks would pay a few thousand dollars a year for their licenses. So these countries sold out on offshore privacy to protect their tourism. If they did not do so the countries allowing tax free importation from these countries of tourist bought items might go away. Tourists returning from these countries by ship or air might find themselves stuck in long lines while they are searched and interrogated by authorities of various affected countries which would quickly and seriously discourage tourism to these countries. Other countries like Switzerland, Lichtenstein, and Luxembourg sold out due to pressure from the EU. But now we are seeing a reversal in position regarding the EU, not much of a reversal but at least a sigh of OK enough is enough.
In recent months the USA was exposed by the New York Times Newspaper in a scandal whereby they were monitoring SWIFT wire transactions for some years. SWIFT is a private company that enables banks to communicate with each other securely including sending wire transfers. SWIFT machines require a separate terminal and line so as to make them most secure. The USA served a court order on the SWIFT people in New York to turn over all the data they requested and gag ordered them to not mention what was going on. It went on for two years. This got the EU nations most upset. While they have not actually prosecuted the SWIFT people for violating the banking laws of the various European nations affected, there was serious talk of it. Whether or not obeying a USA court order to violate the banking laws of other nations is a viable defense has never been tested in any court, yet anyway. The EU position on this was they must get the USA to understand their banking laws call for privacy. This of course is not exactly giving ground for more privacy invasive laws which is what we mean by a reversal.
Today the most privacy oriented jurisdiction in the world is Panama. Panama has 400,000 corporations registered there. Panama requires corporation formation agents to be lawyers and their know your client rules are strict and call for criminal penalties if not followed. Panama banks follow tight anti-money laundering laws as well as know your customer laws. Panama does still allow for anonymous bearer share corporations which do not require the entry into any registry of any ownership names or identities. The anonymous bearer share corporations combined with Panama bank secrecy laws make for the best privacy in the world today. Panama foundations are also anonymous with no owners, beneficiaries or protectors names appearing in any registry or database. Panama is also in no tax treaty with any other country and is fairly unique in this regards. Of course one can ask the question if Panama can sustain their practices under pressure from other nations.
First off Panama does follow the FATF (Financial Action Task Force) practices. Secondly Panama does not exactly have a lot of tourism, actually it has quite a small amount of tourism and most of their tourism comes from Latin America not the EU or USA. This means there is no meaningful tourism that can be taken away. Panama is a small country and 15% to 20% of the workforce is employed by the international banks. Panama has 400,000 corporation registered there who each pay $300 in annual corporate taxes. This comes to $120,000,000 dollars and this is for a country of 2.9 million people. Also consider these corporations are paying for resident agents, nominee directors etc. Then we get into Panama Foundations which also collect $300 in annual taxes each year plus nominee council member fees. Panama will and has resisted attempts to compromise banking secrecy and corporate secrecy.
Again let us look towards history to see what we can learn, this time focusing on anonymous bearer share corporations. The issue with anonymous bearer share corporations is that when the international wires are monitored it is impossible to tell who the natural persons are behind the bearer share corporations sending or receiving the wires. The British Virgin Islands used to offer anonymous bearer share corporations. A few years ago they gave in to pressure from the UK and stopped issuing new bearer share corporations but they did make allowances for the existing bearer share corporations to remain anonymous for 10 years. After that time they would need to dissolve or operate in a non-anonymous mode. If we want to look on the dark side we can consider Panama doing the same if international pressure ever built up sufficiently to force a change. So of course those owning an existing bearer share corporation would be unaffected for ten years and these corporations would probably go up significantly in value on the secondary market. We have absolutely no indications subtle or otherwise that anything is going to change in Panama.
It is also a possibility that some other nations may enter into the bank secrecy arena in the near future and some other nations may return to bank secrecy as well. Only time will tell. Nothing we see gives any inkling of an idea that Panama will reverse on its position of bank and corporate privacy and it appears that things may have already sunk to an all time low and offshore banking and corporate privacy may actually soon start to improve, first with the wire transfer system and later on in other areas.
About The Author
Ronald Edwards is a researcher, with years of experience in finances and real estate.
For more information, please visit:
http://www.panamalaw.org
email at: panamalegal@hush.com
A Guide to Banking for Students by: Joseph Kenny
A bank serves as a financial institution, providing complex financial services, right from the maintenance of deposits to extending credit. A little guidance and initiative help students to improve their personal credit record.
Banking offers the convenience of not having to handle large sums of money, thereby minimizing the chances of theft. Moreover, most of the financial institutions enable you to earn interest on your money deposited in a particular account.
There are a number of bank accounts and financial plans that are specifically designed for students. Today, students handle allowances that take care of all their financial requirements and if judiciously saved, could save them from debt in the future too. It is essential for students to select the right bank.
Tips to select the right bank for students:
The following tips would help students in selecting the best bank for themselves:
- Services offered: It is essential to opt for a bank that meets your specific requirements and serves you efficiently.
- Convenience: Before selecting a bank, you should check the location, working hours and your accessibility.
- Insured federally: Always look for a bank that is insured. The Federal Deposit Insurance Corporation or FDCI insures most banks. It indicates that even if the bank goes bankrupt, you would get your money back, up to $100,000.
- Bank fees: There are bank fees associated with the bank accounts. They charge fees on dropping below the minimum balance, overdraft protection, issue of checks and many more.
Requirements in setting up your banking services:
Financial institutions require you to submit certain important documents, for opening a bank account. They are as follows:
- Your social security number
- A photo ID, like a driver’s license, passport or student ID
- Proof of address
- Your signature on a card or form that is maintained by the bank
Essential banking services for students are as follows:
There are student and graduate accounts, with a number of attractive fringe benefits, designed especially for students. Students struggling to excel in their chosen fields usually cannot afford to pay back the money they borrow, within the expected time frame. Banks offer them the facility of special accounts, designed to increase their loyalty to the financial institution in good time.
Some of the essential considerations to be made, before opting for banking services are:
- Student accounts: A student account offers advantages like vouchers and discounts on branded articles and department stores.
- Overdrafts: Overdrafts enable you to pay your university fees without carrying liquid money. Therefore, it is essential to pick an account with an interest- free overdraft limit.
- Overall package: Though, the overdraft limit is necessary, you need to study the overall bank account package offered. You need to check the fees and charges applicable for certain services.
- Support: Before opening a student’s account, you need to ensure that your account provides you with dedicated support at time of crisis.
You should select a banking service only after conducting substantial research and analyzing the banks credentials.
About The Author
Joe Kenny writes for the UK Loans Store visit for the best UK loans and offer more information on debt consolidation loans and other loan topics available on site.
Visit Today: http://www.ukpersonalloanstore.co.uk
Banking offers the convenience of not having to handle large sums of money, thereby minimizing the chances of theft. Moreover, most of the financial institutions enable you to earn interest on your money deposited in a particular account.
There are a number of bank accounts and financial plans that are specifically designed for students. Today, students handle allowances that take care of all their financial requirements and if judiciously saved, could save them from debt in the future too. It is essential for students to select the right bank.
Tips to select the right bank for students:
The following tips would help students in selecting the best bank for themselves:
- Services offered: It is essential to opt for a bank that meets your specific requirements and serves you efficiently.
- Convenience: Before selecting a bank, you should check the location, working hours and your accessibility.
- Insured federally: Always look for a bank that is insured. The Federal Deposit Insurance Corporation or FDCI insures most banks. It indicates that even if the bank goes bankrupt, you would get your money back, up to $100,000.
- Bank fees: There are bank fees associated with the bank accounts. They charge fees on dropping below the minimum balance, overdraft protection, issue of checks and many more.
Requirements in setting up your banking services:
Financial institutions require you to submit certain important documents, for opening a bank account. They are as follows:
- Your social security number
- A photo ID, like a driver’s license, passport or student ID
- Proof of address
- Your signature on a card or form that is maintained by the bank
Essential banking services for students are as follows:
There are student and graduate accounts, with a number of attractive fringe benefits, designed especially for students. Students struggling to excel in their chosen fields usually cannot afford to pay back the money they borrow, within the expected time frame. Banks offer them the facility of special accounts, designed to increase their loyalty to the financial institution in good time.
Some of the essential considerations to be made, before opting for banking services are:
- Student accounts: A student account offers advantages like vouchers and discounts on branded articles and department stores.
- Overdrafts: Overdrafts enable you to pay your university fees without carrying liquid money. Therefore, it is essential to pick an account with an interest- free overdraft limit.
- Overall package: Though, the overdraft limit is necessary, you need to study the overall bank account package offered. You need to check the fees and charges applicable for certain services.
- Support: Before opening a student’s account, you need to ensure that your account provides you with dedicated support at time of crisis.
You should select a banking service only after conducting substantial research and analyzing the banks credentials.
About The Author
Joe Kenny writes for the UK Loans Store visit for the best UK loans and offer more information on debt consolidation loans and other loan topics available on site.
Visit Today: http://www.ukpersonalloanstore.co.uk
Common Online Banking Features by: Peter Kenny
Online banking is a fairly established practice in our internet-saturated world. Many people are making use of the unique and convenient options that online banking services provide. Yet, if you are a bit behind the times, but still considering the idea of upgrading your current banking practices, internet banking may be the right move. But what if you don't know a thing about online banking? Perhaps, you've thought about being hooked up to a bank's web service, but wasn't sure that the service would be worth the trouble. Or, maybe, it was more about not knowing what sorts of banking features you would be able to access.
Now, obviously, one of the most recognized features is accessibility. Online banking offers you, the customer, 24-hour access to you account, barring any designated website downtimes that may be scheduled. Beyond accessibility, you have portability. Most of the time, you can be on any computer anywhere and access your financial account and do your necessary business, at no charge!
To facilitate online use, most banks that offer online banking provide a host of high quality, technological solutions that make your banking experience easy and fast. Most online banking systems offer the same common features, with only a few exceptions, and most of these services are given to customers free of charge.
Some of the common online banking features and services include:
You can view a summary of your account and transaction history
You can view or print your account statements and balances
Set up online payments and direct deposit services
You may be able to reorder checks for your account via the web
Some services allow you to export your account histories to third-party accounting software
You can transfer funds from one account to another or make deposits
Other accounts and services like CDs, IRAs, and others can be managed from the online account
These, again, are but just some of the common features that many online banking services provide their customers. Another category of features very closely associated with online banking is those that deal with information security. These types of features are constantly evolving to deal with the changes in the web and the potential risks that are involved with conducting sensitive financial business on the network.
Information and identity theft are both very unfortunate realities made more serious by the volume of business conducted across the internet every day. People are exchanging personal financial and identity information all the time, and all of this is a part of regular business affairs. With online banking, the need for sound security measures becomes obvious.
Elements of online security features include computer firewall protections, user ID and password authentication combined with code encryption, limitations on number of times that passwords and user names may be entered before they are locked out, measures like TANs (or transaction numbers), and more recently, security tokens, and digital certificates.
The fact remains that online banking is not going anywhere and with the numbers of banks and credit unions offering these types of services, there will be plenty of competition to stimulate the development of new and better features.
About The Author
Peter Kenny is a writer for The Thrifty Scot, please visit us at http://www.thriftyscot.co.uk/mortgage/ and http://www.loansubmit.co.uk http://www.thriftyscot.co.uk/news/022008/top-place-in-poll-for-nationwide.html
Now, obviously, one of the most recognized features is accessibility. Online banking offers you, the customer, 24-hour access to you account, barring any designated website downtimes that may be scheduled. Beyond accessibility, you have portability. Most of the time, you can be on any computer anywhere and access your financial account and do your necessary business, at no charge!
To facilitate online use, most banks that offer online banking provide a host of high quality, technological solutions that make your banking experience easy and fast. Most online banking systems offer the same common features, with only a few exceptions, and most of these services are given to customers free of charge.
Some of the common online banking features and services include:
You can view a summary of your account and transaction history
You can view or print your account statements and balances
Set up online payments and direct deposit services
You may be able to reorder checks for your account via the web
Some services allow you to export your account histories to third-party accounting software
You can transfer funds from one account to another or make deposits
Other accounts and services like CDs, IRAs, and others can be managed from the online account
These, again, are but just some of the common features that many online banking services provide their customers. Another category of features very closely associated with online banking is those that deal with information security. These types of features are constantly evolving to deal with the changes in the web and the potential risks that are involved with conducting sensitive financial business on the network.
Information and identity theft are both very unfortunate realities made more serious by the volume of business conducted across the internet every day. People are exchanging personal financial and identity information all the time, and all of this is a part of regular business affairs. With online banking, the need for sound security measures becomes obvious.
Elements of online security features include computer firewall protections, user ID and password authentication combined with code encryption, limitations on number of times that passwords and user names may be entered before they are locked out, measures like TANs (or transaction numbers), and more recently, security tokens, and digital certificates.
The fact remains that online banking is not going anywhere and with the numbers of banks and credit unions offering these types of services, there will be plenty of competition to stimulate the development of new and better features.
About The Author
Peter Kenny is a writer for The Thrifty Scot, please visit us at http://www.thriftyscot.co.uk/mortgage/ and http://www.loansubmit.co.uk http://www.thriftyscot.co.uk/news/022008/top-place-in-poll-for-nationwide.html
Top 5 reasons to use online banking by: David Lynes - Loans4
In recent years online banking has become increasingly popular, and many consumers have benefited from being able to conduct all of their banking transactions online without having to resort to queuing in the local bank or spending time trying to get through automated switchboard in order to speak to someone on the phone.
Online banking allows you to run your day to day finances, and manage your bank account, with ease and convenience, and with this method of banking you are always in control. With online banking you get to enjoy convenience, ease, speed, and increased control, which is why so many people now decide to conduct their banking transactions online rather than at a branch. The main reasons many people opt to use online banking are:
1. The ultimate in convenience: When you use online banking you can conduct your transactions from the comfort and privacy of your own home, so you won't have to worry about going out to your local branch, spending time queuing up, and trying to fit your banking commitments into your busy day, which can be particularly difficult for those that work full time.
2. No time constraints: With regular banking you are restricted in terms of when you can contact or call in to the bank in order to conduct transactions, and this can prove difficult for those with busy lifestyles and full time jobs. However, when you opt for online banking you can conduct transactions at any time of the day or night, which means that you can effectively manage your account around the clock.
3. Do everything you need to online: You will find that you are able to conduct pretty much any banking transaction that you can perform by phone or visit to your branch by going online, other than withdrawing and depositing cash. This means that you can effectively control your finances from the privacy of your own home.
4. Increased security: Banks now use very secure software to ensure the safety and security of customers, making it safer than ever to bank online. Just remember never to link to your bank account from an email link, as this could be a false link, and do not save your banking passwords and security details on a shared computer that could give others access.
5. 24 hour access to your account: With online banking you can access your account 24 hours a day, conducting transactions such as making bill payments, checking your balance and statements, setting up or cancelling direct debits and standing orders, and more.
Gone are the days when you could only gain access to you bank between the hours of 9.30am and 3.30pm.
About The Author
David Lynes
Loans4 provide homeowner loan solutions for homeowners. Please visit http://www.loans4.co.uk for the latest finance related news.
Online banking allows you to run your day to day finances, and manage your bank account, with ease and convenience, and with this method of banking you are always in control. With online banking you get to enjoy convenience, ease, speed, and increased control, which is why so many people now decide to conduct their banking transactions online rather than at a branch. The main reasons many people opt to use online banking are:
1. The ultimate in convenience: When you use online banking you can conduct your transactions from the comfort and privacy of your own home, so you won't have to worry about going out to your local branch, spending time queuing up, and trying to fit your banking commitments into your busy day, which can be particularly difficult for those that work full time.
2. No time constraints: With regular banking you are restricted in terms of when you can contact or call in to the bank in order to conduct transactions, and this can prove difficult for those with busy lifestyles and full time jobs. However, when you opt for online banking you can conduct transactions at any time of the day or night, which means that you can effectively manage your account around the clock.
3. Do everything you need to online: You will find that you are able to conduct pretty much any banking transaction that you can perform by phone or visit to your branch by going online, other than withdrawing and depositing cash. This means that you can effectively control your finances from the privacy of your own home.
4. Increased security: Banks now use very secure software to ensure the safety and security of customers, making it safer than ever to bank online. Just remember never to link to your bank account from an email link, as this could be a false link, and do not save your banking passwords and security details on a shared computer that could give others access.
5. 24 hour access to your account: With online banking you can access your account 24 hours a day, conducting transactions such as making bill payments, checking your balance and statements, setting up or cancelling direct debits and standing orders, and more.
Gone are the days when you could only gain access to you bank between the hours of 9.30am and 3.30pm.
About The Author
David Lynes
Loans4 provide homeowner loan solutions for homeowners. Please visit http://www.loans4.co.uk for the latest finance related news.
Online banking – is it safe to do all your banking online by: David Lynes - Loans4
Over recent years the popularity of online banking in the UK has soared, with many consumers enjoying the benefits of being able to conduct their day to day finances and manage their bank accounts from the comfort and privacy of their own homes. These days, many major banks offer online banking facilities to customers, and some banks even operate solely online, reflecting the popularity of banking online.
With online banking many consumers are able to conduct all sorts of transactions online – in fact, pretty much anything other than physically making deposits or withdrawing cash can be done using an online bank account. You can set up or cancel direct debits or standing orders, transfer money, make one off bill payments, check balances, check statements, order stationery such as cheque books, and more.
But just how safe is online banking? Well, the risk of fraud and theft in relation to online banking was once a major concern amongst consumers, and this resulted in many being reluctant to conduct their banking online some years ago. However, banks now use sophisticated software that minimises the risk to the customer, and this has resulted in more and more people enjoying the benefits of online banking whilst also enjoying peace of mind.
Providing you are sensible and exercise caution with regards to your bank account you will find that doing your banking online can be perfectly safe. However, you need to make sure that you do not put yourself at risk through your own actions. For example, although security amongst online banks has become more sophisticated, so have procedures used by fraudsters, and there are some common scams that you need to look out for.
One common scam is known as phishing, and this is where you receive an email that appears to be from your bank, asking you to link to the site and enter your account details. This is something that you should never do, as banks will not send out this type of email. If you have any concerns following the receipt of such an email you should either contact your bank by phone or you should log into your bank account through the search engine and never through the email link, otherwise you will be handing your account details to fraudsters on a plate.
Another thing that you should avoid doing is saving your bank details and password details on a computer that is shared, as this gives others access to your details. Even when the computer is not shared it is safer and more secure to make sure that your details are not saved, and to enter them manually each time you log into your bank account.
About The Author
David Lynes
Loans4 provide homeowner loan solutions for homeowners. Please visit http://www.loans4.co.uk for the latest finance related news.
With online banking many consumers are able to conduct all sorts of transactions online – in fact, pretty much anything other than physically making deposits or withdrawing cash can be done using an online bank account. You can set up or cancel direct debits or standing orders, transfer money, make one off bill payments, check balances, check statements, order stationery such as cheque books, and more.
But just how safe is online banking? Well, the risk of fraud and theft in relation to online banking was once a major concern amongst consumers, and this resulted in many being reluctant to conduct their banking online some years ago. However, banks now use sophisticated software that minimises the risk to the customer, and this has resulted in more and more people enjoying the benefits of online banking whilst also enjoying peace of mind.
Providing you are sensible and exercise caution with regards to your bank account you will find that doing your banking online can be perfectly safe. However, you need to make sure that you do not put yourself at risk through your own actions. For example, although security amongst online banks has become more sophisticated, so have procedures used by fraudsters, and there are some common scams that you need to look out for.
One common scam is known as phishing, and this is where you receive an email that appears to be from your bank, asking you to link to the site and enter your account details. This is something that you should never do, as banks will not send out this type of email. If you have any concerns following the receipt of such an email you should either contact your bank by phone or you should log into your bank account through the search engine and never through the email link, otherwise you will be handing your account details to fraudsters on a plate.
Another thing that you should avoid doing is saving your bank details and password details on a computer that is shared, as this gives others access to your details. Even when the computer is not shared it is safer and more secure to make sure that your details are not saved, and to enter them manually each time you log into your bank account.
About The Author
David Lynes
Loans4 provide homeowner loan solutions for homeowners. Please visit http://www.loans4.co.uk for the latest finance related news.
The Banking World Steps Into Digital Merchandising by: Bruce Leach
Digital merchandising has made great strides in both the retail and hospitality industries, but a new service industry is stepping up to take advantage of going digital. The financial services industry has discovered what other industries have been boasting for a while now: a method of speaking directly to your audience, information provided with entertainment, quick and effective promotions of new products, and an increase in revenues. All ways to take money to the bank!
Digital Merchandising Prompts Bank Customers
Banks, like any other business, want to reach out to their customers and educate them about banking products and services. Digital merchandising has proven itself as a medium that can provide a bridge between retailers and consumers. Banks are using it to educate their customers about banking transactions and prompting them to inquire about the products and services that are available.
Between traditional paper-based marketing, website marketing, and digital merchandising, banks are working to integrate all of their marketing methods to provide more educated and satisfied customers. Retail markets have shown that these digital promotions aid in overall customer approval and drive up repeat business, which the financial services industry is also interested in attaining for their own customers.
Benefits of Digital Merchandising
As traditional marketing methods are replaced by digital technology, the financial services industry has discovered some of the benefits of digital merchandising.
• Dynamic graphics and messages replace lone, static messages
• Dramatic increase in sales by using targeted advertising
• Increased results by using time, location, and demographics information to target advertising messages
• Effective branding techniques by using catchy messages and brilliant graphics
• Stylish flat screen panels enhance bank décor
• Entertainment combined with information makes wait times seem smaller and increases attention to the advertising by not overloading the client with too much information at once
• Integrating marketing campaigns that are used in contact centers, branch sales, telemarketing, and websites
Problems and Solutions in Digital Merchandising
Other industries can learn from the problems financial services industry has encountered when implementing digital marketing options. Each problem has borne a solution that can be applicable elsewhere in the retail world.
• Bank customers tend to return regularly to the same branch, resulting in a need to switch up content regularly for the customer, in order to maintain interest
• A mix of advertising and other relevant data, like news stories, sports information, and weather, relieves boredom for customers and prompts them to read and remember the advertising that is presented
• Splitting screens to provide advertising on one side and other entertainment on the other side also can retain customer interest in the advertising aspect of electronic merchandising
• Providing different visual keys to point out certain information can drive up interest in that information, one financial company uses scrolling messages at the bottom of the screen to display local stocks or stocks of particular interest to their clients
According to the Strategy Institute of Toronto, digital signage gets 10 times more eye contact than static signage, increases sales of new products by more than 30 percent, and increases sales for products that are promoted by more than 30 percent. Banking can benefit from the advantages of digital merchandising to increase their businesses too.
About The Author
For more information on Digital Merchandising visit http://www.ek3.com/digital-merchandising-products.htm
Digital Merchandising Prompts Bank Customers
Banks, like any other business, want to reach out to their customers and educate them about banking products and services. Digital merchandising has proven itself as a medium that can provide a bridge between retailers and consumers. Banks are using it to educate their customers about banking transactions and prompting them to inquire about the products and services that are available.
Between traditional paper-based marketing, website marketing, and digital merchandising, banks are working to integrate all of their marketing methods to provide more educated and satisfied customers. Retail markets have shown that these digital promotions aid in overall customer approval and drive up repeat business, which the financial services industry is also interested in attaining for their own customers.
Benefits of Digital Merchandising
As traditional marketing methods are replaced by digital technology, the financial services industry has discovered some of the benefits of digital merchandising.
• Dynamic graphics and messages replace lone, static messages
• Dramatic increase in sales by using targeted advertising
• Increased results by using time, location, and demographics information to target advertising messages
• Effective branding techniques by using catchy messages and brilliant graphics
• Stylish flat screen panels enhance bank décor
• Entertainment combined with information makes wait times seem smaller and increases attention to the advertising by not overloading the client with too much information at once
• Integrating marketing campaigns that are used in contact centers, branch sales, telemarketing, and websites
Problems and Solutions in Digital Merchandising
Other industries can learn from the problems financial services industry has encountered when implementing digital marketing options. Each problem has borne a solution that can be applicable elsewhere in the retail world.
• Bank customers tend to return regularly to the same branch, resulting in a need to switch up content regularly for the customer, in order to maintain interest
• A mix of advertising and other relevant data, like news stories, sports information, and weather, relieves boredom for customers and prompts them to read and remember the advertising that is presented
• Splitting screens to provide advertising on one side and other entertainment on the other side also can retain customer interest in the advertising aspect of electronic merchandising
• Providing different visual keys to point out certain information can drive up interest in that information, one financial company uses scrolling messages at the bottom of the screen to display local stocks or stocks of particular interest to their clients
According to the Strategy Institute of Toronto, digital signage gets 10 times more eye contact than static signage, increases sales of new products by more than 30 percent, and increases sales for products that are promoted by more than 30 percent. Banking can benefit from the advantages of digital merchandising to increase their businesses too.
About The Author
For more information on Digital Merchandising visit http://www.ek3.com/digital-merchandising-products.htm
RNCOS Releases a New Report- Booming Indian Retail Banking Sector by: Shushmul Maheshwari
“Booming Indian Retail Banking Sector” provides extensive research and rational analysis on the Indian banking industry. This report has been made to help clients in analyzing the opportunities, challenges and drivers critical to the growth of the retail banking industry in India.
The forecast given in this report is not based on a complex economic model, but is intended as a rough guide to the direction in which the market is likely to move. The future projection undertaken in this report is done on the basis of the current market scenario, past trends, and rules and regulations laid by Reserve Bank of India (RBI).
The report provides detailed overview of the Indian banking industry by contemplating and analyzing various parameters, like asset size, income level etc. It helps clients to understand various products offered by the Indian banking industry and their future scope.
The report also provides the future overview of the industry in terms of assets size, number of financial cardholders and various other important features. The future forecast discusses the prospects of different arms of banking industry, including rural banking, bancassurance, financial cards, mobile banking, role of technology in rural banking, pension funds, and the future course of action or strategies for pension fund industry to be taken at macro level.
Key Findings of the Report
- Pension fund industry in India grew at a CAGR of 122.44% from 1999-00 to 2006-07.
- In terms of ownership, debit cards are more in number than credit cards but in terms of transactions, use of credit cards is more prevalent than debit cards.
- The ATM outlets in India increased at a rate of 28.09% from March 2006 to March 2007.
- Outstanding Education loan segment is expected to grow at 36.41% till March 2009 from March 2007 onwards to cross Rs. 27000 Crore Mark.
- Two-wheeler finance industry is projected to forge ahead at a CAGR of 14.21% till 2009-10 from 2005-06.
- Indian Mutual Fund industry witnessed a growth of 49.88% from May 2006 to May 2007, and a higher 215.61% growth was recorded in closed ended schemes.
- Increasing number of millionaires in India is increasing the scope of Wealth Management Services.
- Bankable households in India are estimated to move up at a CAGR of 28.10% during 2007-2011.
Key Issues & Facts Analyzed in the Report
- Market analysis of different product segments in the banking industry.
- Evaluation of current market trends.
- Basel II Accord and Capital Requirement by Indian Banking Industry.
- Factors driving he growth of Retail Banking Industry in India.
- Analysis of various challenges and opportunities for the industry.
- Urban vs. rural banking in terms of deposit and credit.
- Drivers and constraints for credit and debit cards industry in India.
- Pension Fund industry in India.
Key Players Analyzed
This section covers the key facts about the major players (including Public, Private, and Foreign sector) in the Indian Banking Industry, including Bank of Baroda, State Bank of India, Canara Bank, Punjab National Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Citibank, Standard Chartered Bank, HSBC Bank, ABN AMRO Bank, American Express, etc.
Research Methodology Used
Information Sources
Information has been sourced from books, newspapers, trade journals, and white papers, industry portals, government agencies, trade associations, monitoring industry news and developments, and through access to more than 3000 paid databases.
Analysis Method
The analysis methods include ratio analysis, historical trend analysis, linear regression analysis using software tools, judgmental forecasting, and cause and effect analysis.
For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM579.htm
Check DISCOUNTED REPORTS on: http://www.rncos.com
About The Author
RNCOS, incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.
The forecast given in this report is not based on a complex economic model, but is intended as a rough guide to the direction in which the market is likely to move. The future projection undertaken in this report is done on the basis of the current market scenario, past trends, and rules and regulations laid by Reserve Bank of India (RBI).
The report provides detailed overview of the Indian banking industry by contemplating and analyzing various parameters, like asset size, income level etc. It helps clients to understand various products offered by the Indian banking industry and their future scope.
The report also provides the future overview of the industry in terms of assets size, number of financial cardholders and various other important features. The future forecast discusses the prospects of different arms of banking industry, including rural banking, bancassurance, financial cards, mobile banking, role of technology in rural banking, pension funds, and the future course of action or strategies for pension fund industry to be taken at macro level.
Key Findings of the Report
- Pension fund industry in India grew at a CAGR of 122.44% from 1999-00 to 2006-07.
- In terms of ownership, debit cards are more in number than credit cards but in terms of transactions, use of credit cards is more prevalent than debit cards.
- The ATM outlets in India increased at a rate of 28.09% from March 2006 to March 2007.
- Outstanding Education loan segment is expected to grow at 36.41% till March 2009 from March 2007 onwards to cross Rs. 27000 Crore Mark.
- Two-wheeler finance industry is projected to forge ahead at a CAGR of 14.21% till 2009-10 from 2005-06.
- Indian Mutual Fund industry witnessed a growth of 49.88% from May 2006 to May 2007, and a higher 215.61% growth was recorded in closed ended schemes.
- Increasing number of millionaires in India is increasing the scope of Wealth Management Services.
- Bankable households in India are estimated to move up at a CAGR of 28.10% during 2007-2011.
Key Issues & Facts Analyzed in the Report
- Market analysis of different product segments in the banking industry.
- Evaluation of current market trends.
- Basel II Accord and Capital Requirement by Indian Banking Industry.
- Factors driving he growth of Retail Banking Industry in India.
- Analysis of various challenges and opportunities for the industry.
- Urban vs. rural banking in terms of deposit and credit.
- Drivers and constraints for credit and debit cards industry in India.
- Pension Fund industry in India.
Key Players Analyzed
This section covers the key facts about the major players (including Public, Private, and Foreign sector) in the Indian Banking Industry, including Bank of Baroda, State Bank of India, Canara Bank, Punjab National Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Citibank, Standard Chartered Bank, HSBC Bank, ABN AMRO Bank, American Express, etc.
Research Methodology Used
Information Sources
Information has been sourced from books, newspapers, trade journals, and white papers, industry portals, government agencies, trade associations, monitoring industry news and developments, and through access to more than 3000 paid databases.
Analysis Method
The analysis methods include ratio analysis, historical trend analysis, linear regression analysis using software tools, judgmental forecasting, and cause and effect analysis.
For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM579.htm
Check DISCOUNTED REPORTS on: http://www.rncos.com
About The Author
RNCOS, incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.
10 G.o.o.d.H.e.a.l.t.h. Ways to Make Sure Your Website is Caught Up to the 21st Century by: Tracy Ebert
Sure, you probably have a website. Almost everyone does. Have you looked at it lately? I mean really looked at it.
Many companies, especially those in the healthcare industry, will focus their advertising/marketing dollars on popular mainstream media (television, newspapers, etc…). BUT what happens when someone who sees your great ad on TV decides to visit your website and all they see is an antiquated, lifeless site? They’re not going to view you as the high-tech facility you pride yourself to be.
It is important when branding to make sure you take a look at ALL aspects of your public persona: TV and newspaper ads; signage at your facility and other events; letterhead and envelopes used by all departments of the facility; promotional products handed out at recruiting events and to employees; and last, but most certainly not least, your website.
Below are 10 ways to clean up and breathe some new life into your old website:
1. Graphics – Make sure images you use are clean and sharp. High resolution photos of your facility, grounds, staff and even current patients can help give a more personal feeling to your site.
2. Opt-in Box – Use something that will capture the visitor’s information to keep them on your mailing list and give you a reason to keep in touch on a regular basis. This can easily be accomplished with a service like Constant Contact or Swiftpage. These are both easy-to-use programs with pre-made templates to help the author quickly turn out a very professional piece of literature (like a newsletter) on a regular basis.
3. Offer sufficient information on each page to help your visitor make an informed decision. Nothing is more frustrating than being directed to a certain page on a website and not being able to find what you’re looking for. Make sure all information listed is current and correct and all links are “live” and go to where they promise.
4. Directions, Physical Address, Email Address, Contact Us – It can be on one page or multiple pages, but make sure it’s clear how and where your potential customers can get to you.
5. Home Page – This page will define you, your facility/practice and your brand. Make sure you capture your visitor’s attention with the first look. Better to keep it simple, use high-quality graphics and don’t use a lot of text. Visitors want something easy to look at (so don’t use yellow color text) and want to be able to find what they’re looking for.
6. Easy Navigation – A website that is easily navigated is more user-friendly…so…your visitors will stay longer!
7. Articles – Keep your visitors informed with timely, current articles. Also include these in your newsletter to hold your target market’s interest. Visitors want information – they thrive on it! Give them what they want with well-written, well-researched articles. Also, the spider bots love new content on a regular basis – this is a good way to keep them active.
8. Look Before You Leap – Take a look at your successful competitor’s websites. They are successful for a reason, so don’t recreate the wheel, just take a few pointers from them. I’m not suggesting you copy their site or layout, but take a look at the ease in navigation, the graphics, the home page, and the depth of information they’re offering. They’re obviously doing something right.
9. Testimonials from satisfied customers help lend credibility to you and your brand. What type of advertising works best? Word of mouth. By posting testimonials of REAL patients and customers, your visitors will easily identify with them and will be more likely to use your service and/or product.
10. Have a purpose for every web page and make sure that purpose is easily identified! Don’t have full staff bios on the Contact Us page. That page has a purpose – show your visitor how to contact you – don’t muddy it up with other information that isn’t pertinent. You can always create another page called Meet the Staff.
It’s so important in this high-tech culture we live in to make the right impression and give sufficient information to the people who visit your site. If you don’t, they’ll find someone who will.
About The Author
Tracy Ebert is the co-owner of GoodHealthPromos.com (http://www.goodhealthpromos.com) - an online, reward-based site for healthcare professionals to purchase related promotional items. She has been helping professionals grow their businesses for over 18 years. Tracy lives in Virginia with her husband and three children.
Many companies, especially those in the healthcare industry, will focus their advertising/marketing dollars on popular mainstream media (television, newspapers, etc…). BUT what happens when someone who sees your great ad on TV decides to visit your website and all they see is an antiquated, lifeless site? They’re not going to view you as the high-tech facility you pride yourself to be.
It is important when branding to make sure you take a look at ALL aspects of your public persona: TV and newspaper ads; signage at your facility and other events; letterhead and envelopes used by all departments of the facility; promotional products handed out at recruiting events and to employees; and last, but most certainly not least, your website.
Below are 10 ways to clean up and breathe some new life into your old website:
1. Graphics – Make sure images you use are clean and sharp. High resolution photos of your facility, grounds, staff and even current patients can help give a more personal feeling to your site.
2. Opt-in Box – Use something that will capture the visitor’s information to keep them on your mailing list and give you a reason to keep in touch on a regular basis. This can easily be accomplished with a service like Constant Contact or Swiftpage. These are both easy-to-use programs with pre-made templates to help the author quickly turn out a very professional piece of literature (like a newsletter) on a regular basis.
3. Offer sufficient information on each page to help your visitor make an informed decision. Nothing is more frustrating than being directed to a certain page on a website and not being able to find what you’re looking for. Make sure all information listed is current and correct and all links are “live” and go to where they promise.
4. Directions, Physical Address, Email Address, Contact Us – It can be on one page or multiple pages, but make sure it’s clear how and where your potential customers can get to you.
5. Home Page – This page will define you, your facility/practice and your brand. Make sure you capture your visitor’s attention with the first look. Better to keep it simple, use high-quality graphics and don’t use a lot of text. Visitors want something easy to look at (so don’t use yellow color text) and want to be able to find what they’re looking for.
6. Easy Navigation – A website that is easily navigated is more user-friendly…so…your visitors will stay longer!
7. Articles – Keep your visitors informed with timely, current articles. Also include these in your newsletter to hold your target market’s interest. Visitors want information – they thrive on it! Give them what they want with well-written, well-researched articles. Also, the spider bots love new content on a regular basis – this is a good way to keep them active.
8. Look Before You Leap – Take a look at your successful competitor’s websites. They are successful for a reason, so don’t recreate the wheel, just take a few pointers from them. I’m not suggesting you copy their site or layout, but take a look at the ease in navigation, the graphics, the home page, and the depth of information they’re offering. They’re obviously doing something right.
9. Testimonials from satisfied customers help lend credibility to you and your brand. What type of advertising works best? Word of mouth. By posting testimonials of REAL patients and customers, your visitors will easily identify with them and will be more likely to use your service and/or product.
10. Have a purpose for every web page and make sure that purpose is easily identified! Don’t have full staff bios on the Contact Us page. That page has a purpose – show your visitor how to contact you – don’t muddy it up with other information that isn’t pertinent. You can always create another page called Meet the Staff.
It’s so important in this high-tech culture we live in to make the right impression and give sufficient information to the people who visit your site. If you don’t, they’ll find someone who will.
About The Author
Tracy Ebert is the co-owner of GoodHealthPromos.com (http://www.goodhealthpromos.com) - an online, reward-based site for healthcare professionals to purchase related promotional items. She has been helping professionals grow their businesses for over 18 years. Tracy lives in Virginia with her husband and three children.
What is Adverse Possession by: Wendy Moore
Some of you may have heard about this only now. Some of you may have been in this situation and were caught unaware about the process.
So what really is adverse possession in the real estate scenario? It actually refers to the occupation of land not consistent with the rights of the real owner. This basically pertains to the right of a trespasser to own land or part of it which has been in his possession for a certain period of time. The full ownership can be granted to that individual if he or she has been using that land for at least 15 years.
This old doctrine of adverse possession protects the land owner against anybody who wants to claim the property but fails to provide proof of a better land title. It protects the occupier of the land concerned from being ejected by any person who may later on discover a technical issue concerning the land’s original boundaries.
Let’s take an example.
Mr. A owns a certain piece of land which he has turned into a farm. He has been farming there for 20 years. Then comes Mr. B, the new owner of the adjacent land, who found that the fence around Mr. A’s farm was incorrectly placed inside the boundary of his property. The land owned by Mr. B had been sold several times in the past but it is only now that the boundary issue came up when Mr. B requested for a survey of his property’s boundaries.
So, can Mr. B have part of the property included in Mr. A’s land back? Does he have the right to get it back? How can the true boundary of a property be determined?
If we are to base it on the old doctrine of adverse possession, the answer is no. Mr. B no longer has the right to challenge Mr. A on this issue and recover his property. Mr. B cannot force Mr. A to move the fence back to the original and correct boundary.
In cases like this, the role of a surveyor is crucial. This is because the process of challenging a land owner on the issue of adverse possession involves several stages.
The surveyor is the right authority who can perform a check survey to determine the proper boundaries of a certain real estate property according to the original subdivision or survey plan. He will then make a drawing of the property showing the boundaries with the proper measurements and fencelines. The drawing is useful in making a comparison with other survey plans involving the property.
Getting a qualified surveyor should be a priority. Choose one who is familiar with the local area where the property is located. One who knows about the property concerned can be more reliable.
Other qualifications to look for include licenses and certifications as well as membership in professional associations. For example, in Victoria, Australia, the Surveyors Registration Board of Victoria is the agency that issues licenses to qualified surveyors. You may want to check if the surveyor you want to hire is licensed by visiting the Board’s online registry of licensed surveyors.
In terms of survey cost, there is no standard rate. Normally, the cost will depend on the size, shape and other characteristics of a property. If you would like get an idea of the amount you will need, contact a surveyor you know or you can call several surveyors and consult them about your specific situation. The information you provide on your problem and the survey required will enable them to quote you an estimated price.
On the other hand, a real estate lawyer is the best person who can give you advice whether or not you should pursue a claim on your property that was mistakenly included in another person’s property.
About The Author
WANT TO USE THIS ARTICLE?
You can, as long as you include the following:
Wendy Moore is founder of http://www.affluencia.com and creator of the Get Started in Property Mentoring Program - the step-by-step, hold your hand program that gives you the tools and confidence to take your first step on the property investing ladder so you can live a life you love. To receive your F.R.E.E. Special Report and weekly how-to articles to expand your property investing toolkit, visit http://www.affluencia.com.
So what really is adverse possession in the real estate scenario? It actually refers to the occupation of land not consistent with the rights of the real owner. This basically pertains to the right of a trespasser to own land or part of it which has been in his possession for a certain period of time. The full ownership can be granted to that individual if he or she has been using that land for at least 15 years.
This old doctrine of adverse possession protects the land owner against anybody who wants to claim the property but fails to provide proof of a better land title. It protects the occupier of the land concerned from being ejected by any person who may later on discover a technical issue concerning the land’s original boundaries.
Let’s take an example.
Mr. A owns a certain piece of land which he has turned into a farm. He has been farming there for 20 years. Then comes Mr. B, the new owner of the adjacent land, who found that the fence around Mr. A’s farm was incorrectly placed inside the boundary of his property. The land owned by Mr. B had been sold several times in the past but it is only now that the boundary issue came up when Mr. B requested for a survey of his property’s boundaries.
So, can Mr. B have part of the property included in Mr. A’s land back? Does he have the right to get it back? How can the true boundary of a property be determined?
If we are to base it on the old doctrine of adverse possession, the answer is no. Mr. B no longer has the right to challenge Mr. A on this issue and recover his property. Mr. B cannot force Mr. A to move the fence back to the original and correct boundary.
In cases like this, the role of a surveyor is crucial. This is because the process of challenging a land owner on the issue of adverse possession involves several stages.
The surveyor is the right authority who can perform a check survey to determine the proper boundaries of a certain real estate property according to the original subdivision or survey plan. He will then make a drawing of the property showing the boundaries with the proper measurements and fencelines. The drawing is useful in making a comparison with other survey plans involving the property.
Getting a qualified surveyor should be a priority. Choose one who is familiar with the local area where the property is located. One who knows about the property concerned can be more reliable.
Other qualifications to look for include licenses and certifications as well as membership in professional associations. For example, in Victoria, Australia, the Surveyors Registration Board of Victoria is the agency that issues licenses to qualified surveyors. You may want to check if the surveyor you want to hire is licensed by visiting the Board’s online registry of licensed surveyors.
In terms of survey cost, there is no standard rate. Normally, the cost will depend on the size, shape and other characteristics of a property. If you would like get an idea of the amount you will need, contact a surveyor you know or you can call several surveyors and consult them about your specific situation. The information you provide on your problem and the survey required will enable them to quote you an estimated price.
On the other hand, a real estate lawyer is the best person who can give you advice whether or not you should pursue a claim on your property that was mistakenly included in another person’s property.
About The Author
WANT TO USE THIS ARTICLE?
You can, as long as you include the following:
Wendy Moore is founder of http://www.affluencia.com and creator of the Get Started in Property Mentoring Program - the step-by-step, hold your hand program that gives you the tools and confidence to take your first step on the property investing ladder so you can live a life you love. To receive your F.R.E.E. Special Report and weekly how-to articles to expand your property investing toolkit, visit http://www.affluencia.com.
3 Top “Don’ts” to Avoid with Life Insurance Quotes by: Kim Chambers
Life insurance quotes don’t always come cheap. That’s because insurance companies are taking a gamble when they decide to insure your life and, like all gamblers, insurers need to know how much of a risk they are taking when deciding whether or not your life is a safe bet.
With high insurance premiums, it can be tempting to be “economical” with the truth or just to downright lie as you fill out your policy form. However, omitting the full truth either by choice or ignorance can lead to your policy being declared void, which leaves those left behind with nothing, even if you have continued to make your monthly payments. Truth is always the best policy, so here are 3 top “don’ts” that you should bear in mind.
Don’t be coy about your age
Age is a determining factor when it comes to life insurance quotes, as the older you get, the more your premium is going to go up. Your age is an easy thing for insurers to check once a claim is made using information from your birth certificate. If the age on your policy doesn’t match that on your other documentation, then your policy is nullified. As incredible as it sounds, some people lie to insurance companies for no other reason than vanity – it simply isn’t worth the risk.
Don’t lie about your health
There are certain health factors that contribute to your lifestyle which will affect life insurance quotes . If you are a smoker for instance or if you have smoked before, then you must declare this to the insurance company. Smoking is a recognised danger to your health and will push your premium up. By not declaring to the insurance company that you smoke, you are in fact committing fraud, which is a sure-fire way to not receiving a payout after your death. Similarly, be honest about the number of units of alcohol you consume in an average week and the amount of exercise you do.
Don’t be ignorant of family health history
Ignorance is not an excuse for giving false information about health problems in your family’s history. Take the time to research your family tree properly for as many generations as you can and see if there are any hereditary illnesses. Assuming the best is not a smart thing to do with health problems, and could lead to your insurer refusing to pay for a claim.
About The Author
Kim has 2 years experience in the Life insurance industry. She enjoys writing articles on various topics.
http://www.uswitch.com/life-insurance
With high insurance premiums, it can be tempting to be “economical” with the truth or just to downright lie as you fill out your policy form. However, omitting the full truth either by choice or ignorance can lead to your policy being declared void, which leaves those left behind with nothing, even if you have continued to make your monthly payments. Truth is always the best policy, so here are 3 top “don’ts” that you should bear in mind.
Don’t be coy about your age
Age is a determining factor when it comes to life insurance quotes, as the older you get, the more your premium is going to go up. Your age is an easy thing for insurers to check once a claim is made using information from your birth certificate. If the age on your policy doesn’t match that on your other documentation, then your policy is nullified. As incredible as it sounds, some people lie to insurance companies for no other reason than vanity – it simply isn’t worth the risk.
Don’t lie about your health
There are certain health factors that contribute to your lifestyle which will affect life insurance quotes . If you are a smoker for instance or if you have smoked before, then you must declare this to the insurance company. Smoking is a recognised danger to your health and will push your premium up. By not declaring to the insurance company that you smoke, you are in fact committing fraud, which is a sure-fire way to not receiving a payout after your death. Similarly, be honest about the number of units of alcohol you consume in an average week and the amount of exercise you do.
Don’t be ignorant of family health history
Ignorance is not an excuse for giving false information about health problems in your family’s history. Take the time to research your family tree properly for as many generations as you can and see if there are any hereditary illnesses. Assuming the best is not a smart thing to do with health problems, and could lead to your insurer refusing to pay for a claim.
About The Author
Kim has 2 years experience in the Life insurance industry. She enjoys writing articles on various topics.
http://www.uswitch.com/life-insurance
Essential Services Call Center 24/7 – The Growth Company by: Raymundo J. Piccio
For only a few years in existence Essential Services Call Center has mange to grow beyond industry’s expectation. It can be attributed to their marketing approach and proven reliably to deliver needed results to customers most especially their American clients whose criterion of a call center requires the highest standard there is.
>From recruiting potential agents to on the job training, Essential Services is one of the small to mid-size Indian call center complete with an array of equipments and tools always ready to enhance call agents attributes. It is here that one of the company’s management philosophies, ‘higher inputs mean higher output’ is practice with earnest. Aside from the usual tools and training, agents are monitored in discreet fashion as to avoid misunderstanding and improve agents’ quality of work.
So far not even the current world financial crisis could put a dent on Essential services continued success in getting new clients in their list long of satisfied customers. Just recently Essential Services was again called to handle the most sought after loan modification and payday loans for various financial establishments in the US.
This prompted management to expand Essential’s home base call center program. However their home base call center program is strict in adhering to the high standards set forth both by their clients and Essential themselves. This just shows Essentials’ rigid training and high qualification conditions for a home based call center pass the standard set by their clients.
To date Essential Services 24/7 has more or less 3 new accounts and has a retain customers for years now numbering 4 accounts. Aside for their expertise on call center operations either at their brick and mortar office in India or their virtual call center located in various countries worldwide, Essentials continue to strive to give the BPO industry in various ways. Start-up and other potential call centers or home base call centers can avail of Essentials other products such as leads of contacts to various industries, dialers and other needs that are needed to start one up. Again this is one area where Essential Services can work for these companies and individuals.
Essential Services has indeed proven itself as a growth company priding itself as one of the few companies that was able to shield from the effects of the present global financial crisis and that was done by their expertise in the call center and BPO industry.
For further inquiries visit their website at http://www.es-email.com/
About The Author
Raymundo J. Piccio is a freelance writer whose cocentration is in finance, from vast work experience, gambling ex-casino dealer and the sport of golf, avid golfer who plays 2-3 times a week.
http://www.es-email.com
>From recruiting potential agents to on the job training, Essential Services is one of the small to mid-size Indian call center complete with an array of equipments and tools always ready to enhance call agents attributes. It is here that one of the company’s management philosophies, ‘higher inputs mean higher output’ is practice with earnest. Aside from the usual tools and training, agents are monitored in discreet fashion as to avoid misunderstanding and improve agents’ quality of work.
So far not even the current world financial crisis could put a dent on Essential services continued success in getting new clients in their list long of satisfied customers. Just recently Essential Services was again called to handle the most sought after loan modification and payday loans for various financial establishments in the US.
This prompted management to expand Essential’s home base call center program. However their home base call center program is strict in adhering to the high standards set forth both by their clients and Essential themselves. This just shows Essentials’ rigid training and high qualification conditions for a home based call center pass the standard set by their clients.
To date Essential Services 24/7 has more or less 3 new accounts and has a retain customers for years now numbering 4 accounts. Aside for their expertise on call center operations either at their brick and mortar office in India or their virtual call center located in various countries worldwide, Essentials continue to strive to give the BPO industry in various ways. Start-up and other potential call centers or home base call centers can avail of Essentials other products such as leads of contacts to various industries, dialers and other needs that are needed to start one up. Again this is one area where Essential Services can work for these companies and individuals.
Essential Services has indeed proven itself as a growth company priding itself as one of the few companies that was able to shield from the effects of the present global financial crisis and that was done by their expertise in the call center and BPO industry.
For further inquiries visit their website at http://www.es-email.com/
About The Author
Raymundo J. Piccio is a freelance writer whose cocentration is in finance, from vast work experience, gambling ex-casino dealer and the sport of golf, avid golfer who plays 2-3 times a week.
http://www.es-email.com
Does Hon Make The Best File Cabinet by: Grant Mills
Based in Muscatine, Iowa; the Hon Company was originally started in 1944 under the company name of Home-O-Nize Co. In 1955, Home-O-Nize decided to increase it's focus on office supplies and office furniture, so they create a separate department for those products. They also elected to come up with a new name for the new department so this division became known as H-O-N (Home-O-Nize). Since that time, Hon has become an industry leader in the office furniture market.
The Hon company saw a need for office organization so the first Hon file cabinet was produced in 1955 and was then called the "Unifile". The success of this cabinet model led to the development of other various cabinets including a variation of the filing cabinets that are seen still today.
Currently, Hon is the best known filing cabinet manufacturer in the industry. They feature a wide variety of various cabinet models to fit most any need including lateral models, vertical models, and compact pedestal models. As some people may be new to common file cabinet terminology, it's important to go over the various types of cabinet styles.
Lateral filing cabinets - Lateral filing cabinets are also called horizontal filing cabinets. Most lateral filing cabinets are around 20 inches deep, and generally come in widths of 30, 36, or 42 inches. They also come in 2, 3, 4, or 5 drawer versions. The 2 drawer models work best in small spaces like an office cubicle. Hon makes a number of lateral file models to meet any need. All their lateral models have leveling glides, super quiet ball bearings, and a single drawer lock that secures all the drawers. The Hon model 500, 600, or 800 series are excellent choices in this style.
Vertical filing cabinets - Actually designed in 1898 by Edwin Seibels, the vertical filing cabinet has become the most popular filing cabinet style. This style is especially effective for offices or home offices with limited space as they have a smaller footprint compared to a lateral or horizontal model. The Hon models are extremely well made and will last a lifetime. My parents have a Hon vertical in their basement that is over 40 years old. Even after 40 years, it looks and works just almost as well as the day it was produced. If you are shopping for a vertical model, consider the Hon model 310 or 530 as both are a Hon bestseller.
The Hon file cabinets come in a myriad of different finishes like Columbian walnut laminate, Taupe, Putty, black, light gray, charcoal, shaker cherry laminate, shadow Zephyr, cloud zephyr, desert zephyr, canyon zephyr, morro zephyr, muslin, greige, carob, platinum metallic, and champagne metallic.
If you are in the market for a new filing cabinet, give the Hon line a look as they produce great cabinets at reasonable prices with excellent support.
About The Author
When you start talking about file cabinets, most people immediately think about the Hon brand of cabinets as they are one of the oldest and most popular file cabinet makers in the industry. Rather than settling for a cheap knockoff, consider going with a Hon file cabinet as you'll be much happier in the long run.
The Hon company saw a need for office organization so the first Hon file cabinet was produced in 1955 and was then called the "Unifile". The success of this cabinet model led to the development of other various cabinets including a variation of the filing cabinets that are seen still today.
Currently, Hon is the best known filing cabinet manufacturer in the industry. They feature a wide variety of various cabinet models to fit most any need including lateral models, vertical models, and compact pedestal models. As some people may be new to common file cabinet terminology, it's important to go over the various types of cabinet styles.
Lateral filing cabinets - Lateral filing cabinets are also called horizontal filing cabinets. Most lateral filing cabinets are around 20 inches deep, and generally come in widths of 30, 36, or 42 inches. They also come in 2, 3, 4, or 5 drawer versions. The 2 drawer models work best in small spaces like an office cubicle. Hon makes a number of lateral file models to meet any need. All their lateral models have leveling glides, super quiet ball bearings, and a single drawer lock that secures all the drawers. The Hon model 500, 600, or 800 series are excellent choices in this style.
Vertical filing cabinets - Actually designed in 1898 by Edwin Seibels, the vertical filing cabinet has become the most popular filing cabinet style. This style is especially effective for offices or home offices with limited space as they have a smaller footprint compared to a lateral or horizontal model. The Hon models are extremely well made and will last a lifetime. My parents have a Hon vertical in their basement that is over 40 years old. Even after 40 years, it looks and works just almost as well as the day it was produced. If you are shopping for a vertical model, consider the Hon model 310 or 530 as both are a Hon bestseller.
The Hon file cabinets come in a myriad of different finishes like Columbian walnut laminate, Taupe, Putty, black, light gray, charcoal, shaker cherry laminate, shadow Zephyr, cloud zephyr, desert zephyr, canyon zephyr, morro zephyr, muslin, greige, carob, platinum metallic, and champagne metallic.
If you are in the market for a new filing cabinet, give the Hon line a look as they produce great cabinets at reasonable prices with excellent support.
About The Author
When you start talking about file cabinets, most people immediately think about the Hon brand of cabinets as they are one of the oldest and most popular file cabinet makers in the industry. Rather than settling for a cheap knockoff, consider going with a Hon file cabinet as you'll be much happier in the long run.
Commercial Investigations, Inc. Report on Rip Off Report by: Commercial Investigations, Inc Staff
Looking at Commercial Investigations, Inc. current position on search engines it is very interesting to see the contrast between Google.com vs. Yahoo.com and Msn.com. Rip off Report sadly is at the top in Google and yet on Msn searches Rip off Report is on the very bottom of page 2 and yahoo the very bottom of page 1. The staff at Commercial Investigations, Inc. thinks this is interesting, especially because of articles such as this one,
http://www.97thfloor.com/blog/public-spam-report-google-your-honeymoon-with-rip-off-report-has-to-stop/
This article was written by Chris Bennett, one of the world's leading S.E.O. (search engine optimization) specialists. His website, 97thfloor.com published this article is arguably Rip off Report’s biggest nemesis. Here is an interesting exert from this article,
"As you can see Google is definitely treating Rip Off Report different than Yahoo and Live (msn). Live has dropped them from their results all together, so applauds all around for them. Something I found surprising was Yahoo has almost twice as many pages indexed (676k +) as Google, but ranks virtually nothing whereas Google pretty much ranks every single post in its index in the top 20."
Just looking at our own Google ranking vs. search engines it is amazing to see how clear and true this is holding to be. Not even getting into the legitimacy of Rip off Report and just looking at their relationship with Google.com raises almost a certain flag of shadiness. Google.com is very good about regulating websites, their bots or crawlers if you will, as well as their staff of webmasters usually are extremely on point at regulating illegitimate S.E.O. methods and punishing websites. However for some reason, Google.com has done nothing to stop Rip off Report and in fact has almost awarded R.O.R. with higher rankings. Chris Bennett wrapped up his article with this,
"So to sum up an extremely long post, Rip Off Report is spamming Google’s index, and Google is currently letting them get a way with it. They know this and so do their users and as a result thousands of peoples lives are being ruined due to blatant lies and made up stories. Again I am a lover of the Internet and as messed up as Rip Off Report maybe there is a place on the internet for lies and junk, that is the beauty of the net we all have a voice. However there is no place for this whatsoever in Google’s search results."
Commercial Investigations, Inc. has been a target and picked on by Ed Magedsonon, the creator of Rip off Report in the past and C.I.I. is currently still fighting this battle. Commercial Investigations, Inc. has been alleged with many false statements on his website. In response to posts on Rip off Report regarding some of our business to business calls, we have a no call list clearly placed on our website. By law we are obligated to have a no call list, and we more than willingly full fill that obligation. Should anyone feel the need to use it, is clearly up to you. Commercial Investigations, Inc. is also proud to say that we follow all rules and regulations stated in the Fair Debt Collection Practices Act.
Every business in the world wants to give their clients the absolute best and finest services, Commercial Investigations, Inc. likes to inform our clients that they can upgrade to a premium service which will includes any and all court fees should a law suit arise, and reporting all debtor information to all credit report agencies. However, they do not have to upgrade to this package, in exact wording of the letter we sent to our clients it says,
"We have received your request to cancel the accounts you have placed for collection. Before your cases were accepted to be placed in our system for collection, you signed a contract that agrees to a 10% cancellation fee if there has been activity on your cases in the preceding 60 days. “Activity” is defined as letters, phone calls, skip tracing updates, or payments made within the previous sixty days.
If a payment in any amount is made to us or directly to you, and you then wish to close your account, the entire anticipated commission is due and payable immediately before such account can be deemed closed.
If your request to close your accounts is due to being offered our premium service in the form of a forwarding fee contract (whereby we agree to forward a specified number of collection cases straight to litigation for a one-time fee), you are under no obligation to employ this service. Being offered our premium service is NOT a legitimate reason to cancel your contract.
Many clients find our premium service to be very cost-effective. Rest assured, our standard collection service is extremely efficient, and we will continue to service your accounts on a straight contingency basis, with no upfront cost to you. If you still have questions, please contact us immediately."
Commercial Investigations, Inc. does not force our clients into any situation they do not want to be in. C.I.I. pushes our services as much as a fast food restaurant pushes a large combo upgrade; we ask if they would like it, and leave it in your hands to make a decision. As for a the 10% cancellation fee, it is because the moment we receive your account, C.I.I. begins skip tracing work and phone calls on your delinquent account(s). Work is done from day one, and most of the time we do not even recover the costs of resources used with the 10%. If we receive payment or settling a debt, we are doing exactly what our clients hired us for, which is why we ask to receive our commission in the initial contract.
It is simple outrageous to read the things being said about our Commercial Investigations, Inc. we urge everyone to think for themselves and do not believe an arguably illegitimate website such as Rip off Report to base your opinion about our company.
About The Author
Commercial Investigations Inc. provides the finest services in the debt collection field. If you or your company has been victim to unpaid debts or fraud, Commercial Investigations Inc will help you collect your money quick and hassle free.
http://www.commercialinvestigations.net
http://www.97thfloor.com/blog/public-spam-report-google-your-honeymoon-with-rip-off-report-has-to-stop/
This article was written by Chris Bennett, one of the world's leading S.E.O. (search engine optimization) specialists. His website, 97thfloor.com published this article is arguably Rip off Report’s biggest nemesis. Here is an interesting exert from this article,
"As you can see Google is definitely treating Rip Off Report different than Yahoo and Live (msn). Live has dropped them from their results all together, so applauds all around for them. Something I found surprising was Yahoo has almost twice as many pages indexed (676k +) as Google, but ranks virtually nothing whereas Google pretty much ranks every single post in its index in the top 20."
Just looking at our own Google ranking vs. search engines it is amazing to see how clear and true this is holding to be. Not even getting into the legitimacy of Rip off Report and just looking at their relationship with Google.com raises almost a certain flag of shadiness. Google.com is very good about regulating websites, their bots or crawlers if you will, as well as their staff of webmasters usually are extremely on point at regulating illegitimate S.E.O. methods and punishing websites. However for some reason, Google.com has done nothing to stop Rip off Report and in fact has almost awarded R.O.R. with higher rankings. Chris Bennett wrapped up his article with this,
"So to sum up an extremely long post, Rip Off Report is spamming Google’s index, and Google is currently letting them get a way with it. They know this and so do their users and as a result thousands of peoples lives are being ruined due to blatant lies and made up stories. Again I am a lover of the Internet and as messed up as Rip Off Report maybe there is a place on the internet for lies and junk, that is the beauty of the net we all have a voice. However there is no place for this whatsoever in Google’s search results."
Commercial Investigations, Inc. has been a target and picked on by Ed Magedsonon, the creator of Rip off Report in the past and C.I.I. is currently still fighting this battle. Commercial Investigations, Inc. has been alleged with many false statements on his website. In response to posts on Rip off Report regarding some of our business to business calls, we have a no call list clearly placed on our website. By law we are obligated to have a no call list, and we more than willingly full fill that obligation. Should anyone feel the need to use it, is clearly up to you. Commercial Investigations, Inc. is also proud to say that we follow all rules and regulations stated in the Fair Debt Collection Practices Act.
Every business in the world wants to give their clients the absolute best and finest services, Commercial Investigations, Inc. likes to inform our clients that they can upgrade to a premium service which will includes any and all court fees should a law suit arise, and reporting all debtor information to all credit report agencies. However, they do not have to upgrade to this package, in exact wording of the letter we sent to our clients it says,
"We have received your request to cancel the accounts you have placed for collection. Before your cases were accepted to be placed in our system for collection, you signed a contract that agrees to a 10% cancellation fee if there has been activity on your cases in the preceding 60 days. “Activity” is defined as letters, phone calls, skip tracing updates, or payments made within the previous sixty days.
If a payment in any amount is made to us or directly to you, and you then wish to close your account, the entire anticipated commission is due and payable immediately before such account can be deemed closed.
If your request to close your accounts is due to being offered our premium service in the form of a forwarding fee contract (whereby we agree to forward a specified number of collection cases straight to litigation for a one-time fee), you are under no obligation to employ this service. Being offered our premium service is NOT a legitimate reason to cancel your contract.
Many clients find our premium service to be very cost-effective. Rest assured, our standard collection service is extremely efficient, and we will continue to service your accounts on a straight contingency basis, with no upfront cost to you. If you still have questions, please contact us immediately."
Commercial Investigations, Inc. does not force our clients into any situation they do not want to be in. C.I.I. pushes our services as much as a fast food restaurant pushes a large combo upgrade; we ask if they would like it, and leave it in your hands to make a decision. As for a the 10% cancellation fee, it is because the moment we receive your account, C.I.I. begins skip tracing work and phone calls on your delinquent account(s). Work is done from day one, and most of the time we do not even recover the costs of resources used with the 10%. If we receive payment or settling a debt, we are doing exactly what our clients hired us for, which is why we ask to receive our commission in the initial contract.
It is simple outrageous to read the things being said about our Commercial Investigations, Inc. we urge everyone to think for themselves and do not believe an arguably illegitimate website such as Rip off Report to base your opinion about our company.
About The Author
Commercial Investigations Inc. provides the finest services in the debt collection field. If you or your company has been victim to unpaid debts or fraud, Commercial Investigations Inc will help you collect your money quick and hassle free.
http://www.commercialinvestigations.net
Be Choosy To Select Good Inbound Call Center by: Ella Greens
A call center may handle either inbound or outbound calls exclusively or might deal with a combination of the two. An inbound call center is one that handles inbound calls from our potential customers whoever looking for any information about products or services. As customer are main asset of any successful business, so its mandatory for any organization to provide best customer support services to their valued customer. Inbound call center are strongly growing in recent time. Inbound call center agents oftenly communicate with customers through telephone calls as well as email and chat. Advantage of Inbound Call Center is that it allows companies to avail high-quality services.
In this highly globalized world where there is tight competition among businesses, its not easy to find a good quality skilled and specialized call center services provider which can help your company to further expand their business. As customer is the key for any business and by outsourcing customer services, you are directly giving that key to these call centers. So its very important to opt any organization for outsourcing your inbound and outbound call center services.
Inbound Call Centers are very helpful to improve business performance and increased value of the products and services. Qualified and well trained Customer care representatives are the main strength of any organization because these agents are directly connected with your potential customers and show the image of organization to the customers. Lear more at
http://www.callcenterinindia.net/call_center/services/inbound_call_center.html
Most of the call centers from India have the ability to answer and deal with any call at anytime from any place across the world. These call centers provide following Inbound call center services by consider all the areas that your business could benefit from:
1) Phone answering service – Well trained customer care representatives effectively response your customer calls and provide excellent services that save a lot of time and money. Indian call centers are committed to provide 24x7 hrs Inbound Call Center Services which are accurate and perfect to answer the calls at any time from the caller.
2) Order Taking Service - Inbound Call Center is open for your calls 24x7 hours, to handle order inquiry of your customers.
3) Helpdesk Support – Outsourcing companies from India offer Help Desk services and back office support services to provide cost reduction, maintaining best quality and coordinates with seniors to solve problems.
4) Technical Support Service – Call centers from India provide answer to all calls concerning technical questions and all technical support outsourcing for both onsite and offshore. Indian Call centers offer a wide rang of technical support services 24x7 hrs through email, chat, voice and the web. Teams of well trained technical staff always ready to provide immediate answers for technical queries.
5) Customer Service – The relationship with potential customers will make or break business of any organization, so you should be very choosy before handed over your customer services to any organization. Indian call centers have a large pool of well educated professionals who take pride in their quality of services and keep you connect with your potential customer. These call centers have a proven record of success in developing a comprehensive Customer Relationship Management program to give you the results that you need to wait.
6) Live Chat Support - The live online chat is useful in applying online for credit cards, medical claims, purchasing products or obtaining technical support services. Call centers from India can answer any suggestion or complaint and solve them right away.
About The Author
Indian call centers can work with your goals to ensure that every customer that interacts with your company leaves satisfied. Offshore Inbound Call Center services help you to provide best services to you customer by cutting your operating costs and without ever compromising the goals of your business. These call center make assure you that your phones are answered 24/7 hours a day, seven days a week, without requiring either the labor or financial resources to do so. Your feed back comment and suggestions will be highly appreciated at http://www.callcenterinindia.net/call_center/services/inbound_call_center.html
In this highly globalized world where there is tight competition among businesses, its not easy to find a good quality skilled and specialized call center services provider which can help your company to further expand their business. As customer is the key for any business and by outsourcing customer services, you are directly giving that key to these call centers. So its very important to opt any organization for outsourcing your inbound and outbound call center services.
Inbound Call Centers are very helpful to improve business performance and increased value of the products and services. Qualified and well trained Customer care representatives are the main strength of any organization because these agents are directly connected with your potential customers and show the image of organization to the customers. Lear more at
http://www.callcenterinindia.net/call_center/services/inbound_call_center.html
Most of the call centers from India have the ability to answer and deal with any call at anytime from any place across the world. These call centers provide following Inbound call center services by consider all the areas that your business could benefit from:
1) Phone answering service – Well trained customer care representatives effectively response your customer calls and provide excellent services that save a lot of time and money. Indian call centers are committed to provide 24x7 hrs Inbound Call Center Services which are accurate and perfect to answer the calls at any time from the caller.
2) Order Taking Service - Inbound Call Center is open for your calls 24x7 hours, to handle order inquiry of your customers.
3) Helpdesk Support – Outsourcing companies from India offer Help Desk services and back office support services to provide cost reduction, maintaining best quality and coordinates with seniors to solve problems.
4) Technical Support Service – Call centers from India provide answer to all calls concerning technical questions and all technical support outsourcing for both onsite and offshore. Indian Call centers offer a wide rang of technical support services 24x7 hrs through email, chat, voice and the web. Teams of well trained technical staff always ready to provide immediate answers for technical queries.
5) Customer Service – The relationship with potential customers will make or break business of any organization, so you should be very choosy before handed over your customer services to any organization. Indian call centers have a large pool of well educated professionals who take pride in their quality of services and keep you connect with your potential customer. These call centers have a proven record of success in developing a comprehensive Customer Relationship Management program to give you the results that you need to wait.
6) Live Chat Support - The live online chat is useful in applying online for credit cards, medical claims, purchasing products or obtaining technical support services. Call centers from India can answer any suggestion or complaint and solve them right away.
About The Author
Indian call centers can work with your goals to ensure that every customer that interacts with your company leaves satisfied. Offshore Inbound Call Center services help you to provide best services to you customer by cutting your operating costs and without ever compromising the goals of your business. These call center make assure you that your phones are answered 24/7 hours a day, seven days a week, without requiring either the labor or financial resources to do so. Your feed back comment and suggestions will be highly appreciated at http://www.callcenterinindia.net/call_center/services/inbound_call_center.html
Translations: 14 Things You Should Do to Stay on Budget by: Janine Libbey
Costly delays and budget overruns in translation projects usually occur because key information is not clearly communicated at the onset. Because translation comes at the end of the project cycle, time is often an issue. Translation quotes are requested on a rush basis and confusion over final edits and internal approvals may ensue.
Below we offer some helpful tips on how clients can avoid these pitfalls while meeting deadlines and staying on budget.
1. Be direct - say what you mean in the original document so that the translation will also clearly communicate your message.
2. Eliminate sports analogies - expressions like "he went the whole nine yards" are meaningless to foreign readers who do not follow American football. A similar expression may not exist in the target language.
3. Longer is not necessarily better - Keep in mind that the number of words or characters may increase by 20 when they are translated into many other languages. This "expansion" can affect the layout of PowerPoint presentations, marketing materials, and your website.
4. Keep internal acronyms and jargon to a minimum - Who is the intended audience? If they don't work for your company or if they are not in the same line of business, the translation could miss the mark.
5. Include country codes for telephone and fax numbers in your text. If your product instructions are going to Mexico and your call center is in the U.S., your consumers need to have the complete phone number in order to make the call.
6. Measurements in inches, feet and quarts need to be converted to the metric system. Even the British stopped using English measurements.
7. Check your dates. Formats vary from country to country so spell out the month. 8/9 is August 9th in the U.S. but it is September 8th in many countries.
8. Make sure that the original document is finalized and will not need any more editing. If you make changes to the original after you have submitted it for translation, you will be paying for extra, unnecessary work.
9. Run a spelling and grammar check before submitting your materials for translation. If your document has a typo and it says "weed" where you meant to write "seed", the same mistake will probably be in the translation.
10. Be specific. The more information you provide at the beginning will pay off with a more targeted translation. Useful information includes where the translation will be used, and who the audience is (consumers, B2B, engineers, etc.), and if there are graphics or tables. Sending a sample of the piece is always a good idea.
11. Plan ahead. If it took you a month to write it, it may take the translator just as long. Look at your schedule of international trade shows for next year and pick up the phone.
12. Send only what needs to be translated. If the notes on Powerpoint presentation are for internal use only and don't need to be translated, remove them from the file before sending it to your translations company.
13. Translation pricing is per word. That's the industry standard, and that's why tips #8 and #12 are included in this list.
14. Ask questions. Your translations service provider is there to make your job easier. If you are unsure of something or have questions about some of the material to be translated, they can help. Just ask.
About The Author
Janine Libbey is a partner at P & L Translations in Nashville, TN. The company partners with government agencies, private industry and non-profits on language translations. P & L Translations is a certified Women Business Enterprise in the state of Tennessee. Call 615.460.9119 or visit http://www.pandltranslations.com for more information on how translations can be part of your growth strategy.
Below we offer some helpful tips on how clients can avoid these pitfalls while meeting deadlines and staying on budget.
1. Be direct - say what you mean in the original document so that the translation will also clearly communicate your message.
2. Eliminate sports analogies - expressions like "he went the whole nine yards" are meaningless to foreign readers who do not follow American football. A similar expression may not exist in the target language.
3. Longer is not necessarily better - Keep in mind that the number of words or characters may increase by 20 when they are translated into many other languages. This "expansion" can affect the layout of PowerPoint presentations, marketing materials, and your website.
4. Keep internal acronyms and jargon to a minimum - Who is the intended audience? If they don't work for your company or if they are not in the same line of business, the translation could miss the mark.
5. Include country codes for telephone and fax numbers in your text. If your product instructions are going to Mexico and your call center is in the U.S., your consumers need to have the complete phone number in order to make the call.
6. Measurements in inches, feet and quarts need to be converted to the metric system. Even the British stopped using English measurements.
7. Check your dates. Formats vary from country to country so spell out the month. 8/9 is August 9th in the U.S. but it is September 8th in many countries.
8. Make sure that the original document is finalized and will not need any more editing. If you make changes to the original after you have submitted it for translation, you will be paying for extra, unnecessary work.
9. Run a spelling and grammar check before submitting your materials for translation. If your document has a typo and it says "weed" where you meant to write "seed", the same mistake will probably be in the translation.
10. Be specific. The more information you provide at the beginning will pay off with a more targeted translation. Useful information includes where the translation will be used, and who the audience is (consumers, B2B, engineers, etc.), and if there are graphics or tables. Sending a sample of the piece is always a good idea.
11. Plan ahead. If it took you a month to write it, it may take the translator just as long. Look at your schedule of international trade shows for next year and pick up the phone.
12. Send only what needs to be translated. If the notes on Powerpoint presentation are for internal use only and don't need to be translated, remove them from the file before sending it to your translations company.
13. Translation pricing is per word. That's the industry standard, and that's why tips #8 and #12 are included in this list.
14. Ask questions. Your translations service provider is there to make your job easier. If you are unsure of something or have questions about some of the material to be translated, they can help. Just ask.
About The Author
Janine Libbey is a partner at P & L Translations in Nashville, TN. The company partners with government agencies, private industry and non-profits on language translations. P & L Translations is a certified Women Business Enterprise in the state of Tennessee. Call 615.460.9119 or visit http://www.pandltranslations.com for more information on how translations can be part of your growth strategy.
101 Things That Everyone Should Know About Real Estate and Real Estate Investments
1. When buying Real Estate you understand the market environment in that area.
2. Understand the implications of the area and the history of the property that you are examining.
3. Be aware of other developments planned for that area.
4. Research the area before you invest.
5. The more knowledge you have, the better prepared you are! For example: reading this article is a good start!
6. Learn everything you can about that Real Estate marketplace.
7. Do your homework on the property! Research the property and the surrounding neighborhood at the local city, town or municipal hall. Ask neighbours in the area about the uses of the property and its impact on them. Do a title search any outstanding charges, liens or covenants.
8. Do your own study on local pricing. Call a few successful Realtors and Appraisers. Most are quite happy to help.
9. Remember when getting information, get conformations in threes. This means have three separate sources of information so you can identify facts from fiction.
10. As a potential Investor, look to see if the price of one piece of Real Estate is accelerating faster in one area as compared in other areas.
11. Check to see how the average price compares with the average price on similar properties in other neighboring towns or cities, the development costs, constructions costs and most importantly the vacancy rate and the potential return on investment.
12. Always be ahead of changes in the Real Estate market. When the market cycle turns downward, sales fall off and you will not get the price you planned. Many people are finding this out right now!
13. Understanding information is power! The more you know, the more you can evaluate the return on your investment. This will help you negotiate the purchase price of the property. Just because someone wants $500,000 doesn’t mean they won’t sell it for less, given a convincing presentation on current market values.
14. Real Estate Agents are a great source of information.
15. Always do your own research to determine fair market value.
16. Real Estate Agent commissions are always negotiable. Just because they ask for 5-10% of the sale price doesn’t mean that you can’t negotiate.
17. If you want to negotiate fees with Real Estate Agents, always research the Real Estate commissions charged by Real Estate Agents in the area.
18. Remember, the more you are willing to pay in Real Estate commissions, the harder your Realtor is prepaid to work on your behalf.
19. Learn to develop a sense for fair market values. You can do this by taking multiple similar local properties and that have sold and finding an average price. For example, take 5 similar properties in the area and divide the sum of their values by 5. So anything that is less than the average would be a good deal and anything over would be paying too much. Of course, don’t make your decision on price only. Not always, but most times there is a reason why the asking price could be lower or higher!
20. MLS.com (Multiple Listing Service) is a great place to find information on Listings as most Real Estate Agents use this site to share listings information with other Real Estate Agents.
21. Local papers are also a great place to look for local Real Estate Information.
22. The internet is also a great place to find local Real Estate information.
23. For more information on local transactions, research the land title Registries. They will carry information on Real Estate transactions that can be used to identify average prices.
24. When striving for the leading edge on investment, look for a catalyst in the area.
25. The increase of development display signs in an area makes a statement to an Investor, that the area maybe ripe for investing.
26. If you are interested in investing or buying and reselling residential Real Estate, keep an eye on new roads, proposed new schools to be built or old schools to be renovated and expanded. If this is happening, you can be fairly sure that Real Estate values in that area, in the near future, will be impacted by supply and demand. The more demand for property in an given area, the more you can resell it for.
27. Don’t be afraid to ask for more than your property is worth! Remember, you can always go down in price but it is hard to go up after you are for sale.
28. Another great thing about asking for more is some people will actually pay it with out bargaining because they FEEL the value is there for them!
29. Looking for and investing into growing communities at the very beginning, is a very profitable time for reselling.
30. New development of shopping malls in either mature or growing communities is a good tell-tale sign for a profitable investment area.
31. Never review Real Estate taxes and government assessment when buying.
32. Learn to spot new developments. Examples: land clearing, surveying for new construction in and around major roadways are pretty good indicators. Also, look for widening of traffic lanes, the installation of turnaround lanes and the installation of new traffic lights. All these activities suggest the possibility of increased property values in the area.
33. If you are looking for new developments, a great place to start is to contact the local town or city road and building department. They will be aware of new and future developments for the area.
34. Another avenue for finding out about new developments is contacting the city, province or state department. Ask when and where new developments will be coming up.
35. Always be aware of the property taxes. If the property tax is lower on the property of interest than others around it, find out why and be prepared for it to increase.
36. To find out information about property taxes you can always call the local Tax Assessor and they can reveal how much the town or city is charging. It is called the mill rate.
37. Keep an eye on school rankings. Remember the better the school does in over all marks; the more people want their children to go and learn there! This creates more of a demand to live in the area. This demand will create an increase in the value of property in that area.
38. Watch the Outskirts. If the properties in a major city or town have become overpriced, the areas on the outer fringes most likely will soon be in demand. Areas in close proximity to major bus and rail transportation are even more desirable. Nearly any area that is about to install a major train stop or a new major bus route will see its property go up in value.
39. There are 6 main groups of Real Estate. They are Industrial, Commercial, Investment, Recreational, Agricultural and Residential.
40. Residential Real Estate is the most common. It has been our experience that people believe that this is the best investment to start. This Real Estate is mainly known as houses, duplexes and condominiums.
41. Commercial property is the second most popular and is for the more sophisticated investor. This type of Real Estate includes shopping malls, strip malls, theatres, retail stores or main line office buildings.
42. Recreational property is the third most popular investment and is usually done by very sophisticated investors and Trust Funds. These are the “get away” locations like hotels, resorts and spas, golf and nature retreats.
43. Industrial properties are the least popular because most people have a difficult time understanding the development and construction process especially for a specific need. You will find large Investment Trust companies and more highly sophisticated buyers involved in these types of projects.
44. Agriculture property surrounding populated areas are a valued investment for land developers. For long term holding properties.
45. Did you know? Usually in a Real Estate transaction, it takes just as much effort to buy or sell a residential property as it does a Commercial property! Most times, the only difference is the number of 0’s at the end.
46. Appraisals are important and you should get one before closing a purchase on a property.
47. Borrowing money is just as important as buying the property. Remember to find the right Lender with an affordable interest rate.
48. Meet Lenders in the local area… They are your business partners.
49. Meet and interview lawyers in the local area. As the Real Estate zoning process is municipally controlled, a Real Estate Lawyer represents your needs to know the municipal idiosyncrasies.
50. Last but not least, meet local Accountants and ask questions about tax implications of buying and selling Real Estate in their area. Property in different states or provinces has different rules when it comes to taxation.
51. A good way to find competent people in lending, law and accounting practices, is to ask a successful Real Estate Agent in that area. You will know who is knowledgeable by how much they advertise and provide creditable information. Those that advertise the most, tend to do the most business. Building strong relationships with competent people gets the job done right.
52. Banks aren’t the only place for money. A Lending Broker is another source however, there could be a price.
53. Understand “Cap Rates”. To understand this definition see capitalization rates on our website under “glossary”.
54. Different Real Estate assets have different asset classes, and depending on the class, can value or devalue the asset.
55. If you are still reading this, good for you! And if not we understand but here is a fun fact. Did you know that the Guinness Book of World Records holds the record for being the book most stolen from Public Libraries?
56. A condominium, or condo, is a form of Real Estate where the specified unit is for the free use and enjoyment of its owner. A specified part of the property and buildings is owned by the strata corporation and the use of and accesses to common facilities are identified as limited common property. The lands upon which the building is located is mostly identified as common property.
57. Condos use what most people call Strata Titles.
58. Look at insurance and understand what you have and don’t have insured. Understand where your unit and or property are located and make sure that all common elements in that area have been covered.
59. Keep everything insured! The last thing that you want is to lose a substantial investment as a result of a fire or earthquake. Surprisingly, this happens a lot more often then people think.
60. Banks and Real Estate Trusties are also a good place to look for Real Estate investments.
61. Another place to look are public auctions. These usually have foreclosure sales, estate sales, etc. at a great price!
62. You don’t need to pay the asking price for a property if you can’t get conventional or high ratio financing. You can ask the Vendor (Seller) to participate in a “Vendor Take Back” second Mortgage. This is the cast when the Vendor (Seller) takes a second mortgage on the property and you can pay it off over a period of time, to be agreed upon the time of sale.
63. “Agreement For Sale” is another method of financing. This is when the Vendor (Seller) retains title in their name and the amount of funds to be paid are calculated in the same manner as with a convention lender and with a specified term. Upon the maturity of the term, the Agreement For Sale must be paid out in full to the Vendor (Seller) and at that point, title is transfer to the buyer or the Agreement For Sale can be renegotiated as long both parties agree. As an additional tip, the renegotiation process should start well in advance of the term due date so as not to jeopardize any part of this process.
64. Land is the one asset base that will out last any generation.
65. Land will always carry a value no matter what happens in the world unlike metals and money.
66. In some places in the world, property is sold under a 99 year lease. Make sure you know what you are buying. This is why it is so important to learn how to read a land title.
67. When buying Investment Real Estate, be sure to have identified the carrying costs and the length of time required to sustain the mortgage payments.
68. There are four typical ways Investment properties generate cash flow – these are NOI (Net Operating Income), Tax shelter offsets, equity build-up, and capital appreciation.
69. What is a NOI (Net Operating Income)? It is the sum of positive cash flow from rent and other sources of income generated from the property minus the sum of ongoing expenses.
70. What is a tax shelter offset? Tax shelters can happen one of three ways – depreciation, tax credits and carryover losses. These can reduce income tax liability charges against income from other sources. So when looking for investments, some may find a loss attractive!
71. Equity build-up is the increase in the Investor's equity ratio as the portion of debt service payments devoted to the principal accrued over time.
72. Capital appreciation is the increase in market value of the asset over time, realized as a cash flow when the property is sold. Capital appreciation can be very unpredictable unless it is part of a development and improvement strategy.
73. Learn to manage and evaluate risk in Real Estate.
74. Always verify ownership of property… do a Title search!
75. Learn what Title Insurance is and make sure you get it if you feel you will need it.
76. Make sure when purchasing Real Estate that you get a property survey from a licensed property surveyor and determine that it is acceptable to the local government authority.
77. Obtain an environmental study when purchasing or even selling the property.
78. Contact a local Real Estate Property Inspector. Have them inspect the premises for structural, mechanical and maintenance deficiencies. Surprisingly, many people want to believe people are honest. Over and over again, we hear buyers complain that the property was misrepresented. The truth be known, many times the Sellers have not known that there were deficiencies, or if they had acknowledged the deficiencies they would have received less.
79. Yet again, we are stressing that a third party appraisal and inspection are always obtained.
80. Cash Flow! Take care of cash shortfall. This mean to maintain sufficient liquidity or cash reserves to cover costs and debt service for a potential shortfall period.
81. There is nothing wrong with selling or leasing a property before you have received a Certificate of Title. This is called an Agreement For Sale. We have talked about this before but we need to show it in another light. This is risky but can be done. Have long term leases signed with Tenants with Conditions in the Agreement For Sale.
82. Before you lease, Confirm in writing that the potential tenant is financially responsible. Specifically address the terms of the lease with the tenant including the tenants responsibility to keep the premises clean and free of any environmental issues.
83. Learn how to find and hire proper and experienced Property Management Companies.
84. Always analyze financial performance using conservative assumptions to ensure that the property can generate enough cash flow to support itself.
85. There is more than just a conventional mortgage/loan that you can obtain from your bank on the Real Estate. You may want to explore other types of loans and mortgages. Examples are: Assumable mortgages, Balloon mortgages, Blanket loans, Bridge loans, Discounted mortgages, Commercial loans, Equity loans, Flexible mortgages, Graduated payment mortgage loans, Offset mortgages, Participation mortgages, Reverse mortgages, Interest-only mortgages, Wraparound mortgages, and other Non-conforming mortgages. Theses are just to name a few!
86. When buying and selling Real Estate, always be aware of the financing rules of the individual Lenders. For example if you are trying to buy a property to get more money because the appraised value is more than the purchase price, be aware that most Lenders will only give you a percentage of the appraised value or purchase price which ever is the lesser.
87. Understand how your Lender works and how they lend money.
88. Learn how to understand payment and debt ratios.
89. Learn how to manage and build a credit score.
90. When building, buying and/or selling Real Estate, in most cases it make more sense for liability purposes, to purchase through a legal entity rather than own the Real Estate as an individual.
91. Most Banks will finance 60-80% of the Commercial or Industrial project. This means that you will have to come up with 20-40% of the cash for the project. You can raise this cash either from family, friends or third party Investors and allow them a second mortgage as collateral.
92. Most typical small Real Estate loans are ammortized over 10 to 25 years.
93. Always keep an eye on interest rates because sometimes it makes sense to break loans and get them refinanced. Take a look at your current interest rate on your loan and compare it to today’s interest rates and see if it makes sense.
94. Net Lease is becoming more common, as it requires the tenant to pay additional rent to accommodate some or all of the property expenses which normally would be paid by the property owner.
95. There are four types of Commercial and Industrial net leases: single, double, triple and bonded. Triple or net lease is the most common as it requires the tenant to pay all common expenses and if there is an increase in utilities, insurance or taxes the tenant not the property owner pays!
96. Typically, well thought out, implemented triple net leases are 'safe, secure equity investments', rather than 'just cash flow investments'.
97. Always have a backup plan. Some times when you purchase a property life unexpected occurs. Have a plan to re-organize; if the first idea does not work or if a sale is necessary because of life’s issues, make sure you know someone that you trust so that you can transfer it in a moments notice.
98. If looking at a new development, have a professional developer analyze the project in advance. Contact them at http://www.pro-land.ca/index.php/contactproland and just ask for a Business Development Officer.
99. Get organized – most competent Lenders can give you a checklist of the documents required to obtain your financing.
100. Get pre-approved – this saves you time by knowing what you can “afford to shop for". There is no sense wasting your time or your Real Estate Broker’s time looking at three million dollar buildings if you can only afford $ 300,000.
101. Consider low down payments and longer-term loans -- this preserves your capital for better utilization, keeps your cash flow high, and allows you to redeploy the "capital savings" into other profit-generating business activities.
102. Last but not least, only work with specific Real Estate Specialist – again, your time is precious so only deal with specialists that are involved in that type of Real Estate.
Well, if you have read this list all the way through, we complement you! Success will occur only if you understand, address and implement the use of the points referred to herein. We hope that .pro-land.ca is able to inspire you and give you ideas on how to enter the Real Estate market and become successful. Life is a journey and is always worth living, so enjoy the opportunities out there.
If you enjoyed or found this article useful let us know and book mark it!
Questions and comments can be placed at:
1-780-479-7767 or email: team@pro-land.ca
http://www.pro-land.ca
About The Author
Joe Lawrence has been in the business world since he was born. Started his first business when he was 8 years old and now helps lead a aggressive Commercial, Industrial and Recreational Property development company call Pro-land. On his spare time he helps manage other Real Estate Investments but building and developing projects are where he shines most.
2. Understand the implications of the area and the history of the property that you are examining.
3. Be aware of other developments planned for that area.
4. Research the area before you invest.
5. The more knowledge you have, the better prepared you are! For example: reading this article is a good start!
6. Learn everything you can about that Real Estate marketplace.
7. Do your homework on the property! Research the property and the surrounding neighborhood at the local city, town or municipal hall. Ask neighbours in the area about the uses of the property and its impact on them. Do a title search any outstanding charges, liens or covenants.
8. Do your own study on local pricing. Call a few successful Realtors and Appraisers. Most are quite happy to help.
9. Remember when getting information, get conformations in threes. This means have three separate sources of information so you can identify facts from fiction.
10. As a potential Investor, look to see if the price of one piece of Real Estate is accelerating faster in one area as compared in other areas.
11. Check to see how the average price compares with the average price on similar properties in other neighboring towns or cities, the development costs, constructions costs and most importantly the vacancy rate and the potential return on investment.
12. Always be ahead of changes in the Real Estate market. When the market cycle turns downward, sales fall off and you will not get the price you planned. Many people are finding this out right now!
13. Understanding information is power! The more you know, the more you can evaluate the return on your investment. This will help you negotiate the purchase price of the property. Just because someone wants $500,000 doesn’t mean they won’t sell it for less, given a convincing presentation on current market values.
14. Real Estate Agents are a great source of information.
15. Always do your own research to determine fair market value.
16. Real Estate Agent commissions are always negotiable. Just because they ask for 5-10% of the sale price doesn’t mean that you can’t negotiate.
17. If you want to negotiate fees with Real Estate Agents, always research the Real Estate commissions charged by Real Estate Agents in the area.
18. Remember, the more you are willing to pay in Real Estate commissions, the harder your Realtor is prepaid to work on your behalf.
19. Learn to develop a sense for fair market values. You can do this by taking multiple similar local properties and that have sold and finding an average price. For example, take 5 similar properties in the area and divide the sum of their values by 5. So anything that is less than the average would be a good deal and anything over would be paying too much. Of course, don’t make your decision on price only. Not always, but most times there is a reason why the asking price could be lower or higher!
20. MLS.com (Multiple Listing Service) is a great place to find information on Listings as most Real Estate Agents use this site to share listings information with other Real Estate Agents.
21. Local papers are also a great place to look for local Real Estate Information.
22. The internet is also a great place to find local Real Estate information.
23. For more information on local transactions, research the land title Registries. They will carry information on Real Estate transactions that can be used to identify average prices.
24. When striving for the leading edge on investment, look for a catalyst in the area.
25. The increase of development display signs in an area makes a statement to an Investor, that the area maybe ripe for investing.
26. If you are interested in investing or buying and reselling residential Real Estate, keep an eye on new roads, proposed new schools to be built or old schools to be renovated and expanded. If this is happening, you can be fairly sure that Real Estate values in that area, in the near future, will be impacted by supply and demand. The more demand for property in an given area, the more you can resell it for.
27. Don’t be afraid to ask for more than your property is worth! Remember, you can always go down in price but it is hard to go up after you are for sale.
28. Another great thing about asking for more is some people will actually pay it with out bargaining because they FEEL the value is there for them!
29. Looking for and investing into growing communities at the very beginning, is a very profitable time for reselling.
30. New development of shopping malls in either mature or growing communities is a good tell-tale sign for a profitable investment area.
31. Never review Real Estate taxes and government assessment when buying.
32. Learn to spot new developments. Examples: land clearing, surveying for new construction in and around major roadways are pretty good indicators. Also, look for widening of traffic lanes, the installation of turnaround lanes and the installation of new traffic lights. All these activities suggest the possibility of increased property values in the area.
33. If you are looking for new developments, a great place to start is to contact the local town or city road and building department. They will be aware of new and future developments for the area.
34. Another avenue for finding out about new developments is contacting the city, province or state department. Ask when and where new developments will be coming up.
35. Always be aware of the property taxes. If the property tax is lower on the property of interest than others around it, find out why and be prepared for it to increase.
36. To find out information about property taxes you can always call the local Tax Assessor and they can reveal how much the town or city is charging. It is called the mill rate.
37. Keep an eye on school rankings. Remember the better the school does in over all marks; the more people want their children to go and learn there! This creates more of a demand to live in the area. This demand will create an increase in the value of property in that area.
38. Watch the Outskirts. If the properties in a major city or town have become overpriced, the areas on the outer fringes most likely will soon be in demand. Areas in close proximity to major bus and rail transportation are even more desirable. Nearly any area that is about to install a major train stop or a new major bus route will see its property go up in value.
39. There are 6 main groups of Real Estate. They are Industrial, Commercial, Investment, Recreational, Agricultural and Residential.
40. Residential Real Estate is the most common. It has been our experience that people believe that this is the best investment to start. This Real Estate is mainly known as houses, duplexes and condominiums.
41. Commercial property is the second most popular and is for the more sophisticated investor. This type of Real Estate includes shopping malls, strip malls, theatres, retail stores or main line office buildings.
42. Recreational property is the third most popular investment and is usually done by very sophisticated investors and Trust Funds. These are the “get away” locations like hotels, resorts and spas, golf and nature retreats.
43. Industrial properties are the least popular because most people have a difficult time understanding the development and construction process especially for a specific need. You will find large Investment Trust companies and more highly sophisticated buyers involved in these types of projects.
44. Agriculture property surrounding populated areas are a valued investment for land developers. For long term holding properties.
45. Did you know? Usually in a Real Estate transaction, it takes just as much effort to buy or sell a residential property as it does a Commercial property! Most times, the only difference is the number of 0’s at the end.
46. Appraisals are important and you should get one before closing a purchase on a property.
47. Borrowing money is just as important as buying the property. Remember to find the right Lender with an affordable interest rate.
48. Meet Lenders in the local area… They are your business partners.
49. Meet and interview lawyers in the local area. As the Real Estate zoning process is municipally controlled, a Real Estate Lawyer represents your needs to know the municipal idiosyncrasies.
50. Last but not least, meet local Accountants and ask questions about tax implications of buying and selling Real Estate in their area. Property in different states or provinces has different rules when it comes to taxation.
51. A good way to find competent people in lending, law and accounting practices, is to ask a successful Real Estate Agent in that area. You will know who is knowledgeable by how much they advertise and provide creditable information. Those that advertise the most, tend to do the most business. Building strong relationships with competent people gets the job done right.
52. Banks aren’t the only place for money. A Lending Broker is another source however, there could be a price.
53. Understand “Cap Rates”. To understand this definition see capitalization rates on our website under “glossary”.
54. Different Real Estate assets have different asset classes, and depending on the class, can value or devalue the asset.
55. If you are still reading this, good for you! And if not we understand but here is a fun fact. Did you know that the Guinness Book of World Records holds the record for being the book most stolen from Public Libraries?
56. A condominium, or condo, is a form of Real Estate where the specified unit is for the free use and enjoyment of its owner. A specified part of the property and buildings is owned by the strata corporation and the use of and accesses to common facilities are identified as limited common property. The lands upon which the building is located is mostly identified as common property.
57. Condos use what most people call Strata Titles.
58. Look at insurance and understand what you have and don’t have insured. Understand where your unit and or property are located and make sure that all common elements in that area have been covered.
59. Keep everything insured! The last thing that you want is to lose a substantial investment as a result of a fire or earthquake. Surprisingly, this happens a lot more often then people think.
60. Banks and Real Estate Trusties are also a good place to look for Real Estate investments.
61. Another place to look are public auctions. These usually have foreclosure sales, estate sales, etc. at a great price!
62. You don’t need to pay the asking price for a property if you can’t get conventional or high ratio financing. You can ask the Vendor (Seller) to participate in a “Vendor Take Back” second Mortgage. This is the cast when the Vendor (Seller) takes a second mortgage on the property and you can pay it off over a period of time, to be agreed upon the time of sale.
63. “Agreement For Sale” is another method of financing. This is when the Vendor (Seller) retains title in their name and the amount of funds to be paid are calculated in the same manner as with a convention lender and with a specified term. Upon the maturity of the term, the Agreement For Sale must be paid out in full to the Vendor (Seller) and at that point, title is transfer to the buyer or the Agreement For Sale can be renegotiated as long both parties agree. As an additional tip, the renegotiation process should start well in advance of the term due date so as not to jeopardize any part of this process.
64. Land is the one asset base that will out last any generation.
65. Land will always carry a value no matter what happens in the world unlike metals and money.
66. In some places in the world, property is sold under a 99 year lease. Make sure you know what you are buying. This is why it is so important to learn how to read a land title.
67. When buying Investment Real Estate, be sure to have identified the carrying costs and the length of time required to sustain the mortgage payments.
68. There are four typical ways Investment properties generate cash flow – these are NOI (Net Operating Income), Tax shelter offsets, equity build-up, and capital appreciation.
69. What is a NOI (Net Operating Income)? It is the sum of positive cash flow from rent and other sources of income generated from the property minus the sum of ongoing expenses.
70. What is a tax shelter offset? Tax shelters can happen one of three ways – depreciation, tax credits and carryover losses. These can reduce income tax liability charges against income from other sources. So when looking for investments, some may find a loss attractive!
71. Equity build-up is the increase in the Investor's equity ratio as the portion of debt service payments devoted to the principal accrued over time.
72. Capital appreciation is the increase in market value of the asset over time, realized as a cash flow when the property is sold. Capital appreciation can be very unpredictable unless it is part of a development and improvement strategy.
73. Learn to manage and evaluate risk in Real Estate.
74. Always verify ownership of property… do a Title search!
75. Learn what Title Insurance is and make sure you get it if you feel you will need it.
76. Make sure when purchasing Real Estate that you get a property survey from a licensed property surveyor and determine that it is acceptable to the local government authority.
77. Obtain an environmental study when purchasing or even selling the property.
78. Contact a local Real Estate Property Inspector. Have them inspect the premises for structural, mechanical and maintenance deficiencies. Surprisingly, many people want to believe people are honest. Over and over again, we hear buyers complain that the property was misrepresented. The truth be known, many times the Sellers have not known that there were deficiencies, or if they had acknowledged the deficiencies they would have received less.
79. Yet again, we are stressing that a third party appraisal and inspection are always obtained.
80. Cash Flow! Take care of cash shortfall. This mean to maintain sufficient liquidity or cash reserves to cover costs and debt service for a potential shortfall period.
81. There is nothing wrong with selling or leasing a property before you have received a Certificate of Title. This is called an Agreement For Sale. We have talked about this before but we need to show it in another light. This is risky but can be done. Have long term leases signed with Tenants with Conditions in the Agreement For Sale.
82. Before you lease, Confirm in writing that the potential tenant is financially responsible. Specifically address the terms of the lease with the tenant including the tenants responsibility to keep the premises clean and free of any environmental issues.
83. Learn how to find and hire proper and experienced Property Management Companies.
84. Always analyze financial performance using conservative assumptions to ensure that the property can generate enough cash flow to support itself.
85. There is more than just a conventional mortgage/loan that you can obtain from your bank on the Real Estate. You may want to explore other types of loans and mortgages. Examples are: Assumable mortgages, Balloon mortgages, Blanket loans, Bridge loans, Discounted mortgages, Commercial loans, Equity loans, Flexible mortgages, Graduated payment mortgage loans, Offset mortgages, Participation mortgages, Reverse mortgages, Interest-only mortgages, Wraparound mortgages, and other Non-conforming mortgages. Theses are just to name a few!
86. When buying and selling Real Estate, always be aware of the financing rules of the individual Lenders. For example if you are trying to buy a property to get more money because the appraised value is more than the purchase price, be aware that most Lenders will only give you a percentage of the appraised value or purchase price which ever is the lesser.
87. Understand how your Lender works and how they lend money.
88. Learn how to understand payment and debt ratios.
89. Learn how to manage and build a credit score.
90. When building, buying and/or selling Real Estate, in most cases it make more sense for liability purposes, to purchase through a legal entity rather than own the Real Estate as an individual.
91. Most Banks will finance 60-80% of the Commercial or Industrial project. This means that you will have to come up with 20-40% of the cash for the project. You can raise this cash either from family, friends or third party Investors and allow them a second mortgage as collateral.
92. Most typical small Real Estate loans are ammortized over 10 to 25 years.
93. Always keep an eye on interest rates because sometimes it makes sense to break loans and get them refinanced. Take a look at your current interest rate on your loan and compare it to today’s interest rates and see if it makes sense.
94. Net Lease is becoming more common, as it requires the tenant to pay additional rent to accommodate some or all of the property expenses which normally would be paid by the property owner.
95. There are four types of Commercial and Industrial net leases: single, double, triple and bonded. Triple or net lease is the most common as it requires the tenant to pay all common expenses and if there is an increase in utilities, insurance or taxes the tenant not the property owner pays!
96. Typically, well thought out, implemented triple net leases are 'safe, secure equity investments', rather than 'just cash flow investments'.
97. Always have a backup plan. Some times when you purchase a property life unexpected occurs. Have a plan to re-organize; if the first idea does not work or if a sale is necessary because of life’s issues, make sure you know someone that you trust so that you can transfer it in a moments notice.
98. If looking at a new development, have a professional developer analyze the project in advance. Contact them at http://www.pro-land.ca/index.php/contactproland and just ask for a Business Development Officer.
99. Get organized – most competent Lenders can give you a checklist of the documents required to obtain your financing.
100. Get pre-approved – this saves you time by knowing what you can “afford to shop for". There is no sense wasting your time or your Real Estate Broker’s time looking at three million dollar buildings if you can only afford $ 300,000.
101. Consider low down payments and longer-term loans -- this preserves your capital for better utilization, keeps your cash flow high, and allows you to redeploy the "capital savings" into other profit-generating business activities.
102. Last but not least, only work with specific Real Estate Specialist – again, your time is precious so only deal with specialists that are involved in that type of Real Estate.
Well, if you have read this list all the way through, we complement you! Success will occur only if you understand, address and implement the use of the points referred to herein. We hope that .pro-land.ca is able to inspire you and give you ideas on how to enter the Real Estate market and become successful. Life is a journey and is always worth living, so enjoy the opportunities out there.
If you enjoyed or found this article useful let us know and book mark it!
Questions and comments can be placed at:
1-780-479-7767 or email: team@pro-land.ca
http://www.pro-land.ca
About The Author
Joe Lawrence has been in the business world since he was born. Started his first business when he was 8 years old and now helps lead a aggressive Commercial, Industrial and Recreational Property development company call Pro-land. On his spare time he helps manage other Real Estate Investments but building and developing projects are where he shines most.
Considerations Before Cancelling a Merchant Account by: Jonathan Hewitt
Cancelling a merchant account is as simple as contacting your merchant service provider and requesting that the account be closed. For security reasons, some providers may require you to submit information verifying your identity before they will process a merchant account cancellation request. Although the process of closing an account is simple, it is sometimes accompanied by a surprise in the form of a potentially large early termination fee.
Early termination fees range from $50 up to $500 or more and they're used by merchant service providers to retain merchants for a specified period of time. Finding out that you have to pay a hefty cancellation fee in order to close your merchant account can be a very frustrating experience, but there are things that you can do to lessen or even eliminate the fee.
The first thing to do is to check whether or not the early termination fee is still valid. Many merchant service agreements have a clause that voids the termination fee if processing rates are raised within the contract term. For example, if discount rates are raised on a merchant account in the first year of operation the early termination fee for that account would be waived regardless of the contract term.
Due to the high turnover in the merchant services industry contributing to the lack of knowledge of many sales representatives, you can't rely on you merchant service provider to bring this loop-hole to your attention. Even if they insist that such a provision doesn't exist in their agreement, check for yourself to be sure. It's not uncommon to find a salesperson in the merchant service industry that has never read their acquiring bank's processing agreement in its entirety.
If you can't get around the cancellation fee to terminate your account, you may find that's it's cheaper to leave the account open until the contract term expires. Depending on the total of monthly fees your merchant account has, it may be less expensive to leave the account active and pay the monthly fees until the terms ends and you can close the account without penalty. For example, a merchant account with a $20 monthly minimum and a $10 statement fee costs $30 per month if there is no processing volume. If the cancellation fee for the same account is $250 and there are four months left in the account's term, a merchant would save $130 by leaving the account open instead of cancelling and paying the fee ($250 – ($30 * 4months) = $130).
This last point is for merchants that are cancelling their merchant account to open a new, less expensive account with another provider. Merchant service providers hate to lose a client to a competitor and they will always try to retain a your business. The first thing that a provider will ask when you call to cancel your merchant account is "why" and the second is, "what can we do to keep you." The answer to this question is usually lower rates and fees. This is where many merchants get frustrated because they realize they didn't need to cancel their existing account and devote time and energy into finding a new one. A single phone call to their existing provider may well have produced lower rates and fees at a fraction of the energy they've expended finding a new account.
The lesson here is to save yourself time, energy and money by periodically calling your merchant service provider to let them know that you're shopping the competition. You can even use a free comparison service like CardFellow.com to get merchant account quotes that you can send to your existing provider. This will help to keep your rates low and it will eliminate the hassle of cancelling one merchant account just to open another.
About The Author
This article about considerations before you cancel a merchant account and more can be found at Merchantcouncil.org to help you find the best merchant account for your credit card processing needs.
http://www.merchantcouncil.org
Early termination fees range from $50 up to $500 or more and they're used by merchant service providers to retain merchants for a specified period of time. Finding out that you have to pay a hefty cancellation fee in order to close your merchant account can be a very frustrating experience, but there are things that you can do to lessen or even eliminate the fee.
The first thing to do is to check whether or not the early termination fee is still valid. Many merchant service agreements have a clause that voids the termination fee if processing rates are raised within the contract term. For example, if discount rates are raised on a merchant account in the first year of operation the early termination fee for that account would be waived regardless of the contract term.
Due to the high turnover in the merchant services industry contributing to the lack of knowledge of many sales representatives, you can't rely on you merchant service provider to bring this loop-hole to your attention. Even if they insist that such a provision doesn't exist in their agreement, check for yourself to be sure. It's not uncommon to find a salesperson in the merchant service industry that has never read their acquiring bank's processing agreement in its entirety.
If you can't get around the cancellation fee to terminate your account, you may find that's it's cheaper to leave the account open until the contract term expires. Depending on the total of monthly fees your merchant account has, it may be less expensive to leave the account active and pay the monthly fees until the terms ends and you can close the account without penalty. For example, a merchant account with a $20 monthly minimum and a $10 statement fee costs $30 per month if there is no processing volume. If the cancellation fee for the same account is $250 and there are four months left in the account's term, a merchant would save $130 by leaving the account open instead of cancelling and paying the fee ($250 – ($30 * 4months) = $130).
This last point is for merchants that are cancelling their merchant account to open a new, less expensive account with another provider. Merchant service providers hate to lose a client to a competitor and they will always try to retain a your business. The first thing that a provider will ask when you call to cancel your merchant account is "why" and the second is, "what can we do to keep you." The answer to this question is usually lower rates and fees. This is where many merchants get frustrated because they realize they didn't need to cancel their existing account and devote time and energy into finding a new one. A single phone call to their existing provider may well have produced lower rates and fees at a fraction of the energy they've expended finding a new account.
The lesson here is to save yourself time, energy and money by periodically calling your merchant service provider to let them know that you're shopping the competition. You can even use a free comparison service like CardFellow.com to get merchant account quotes that you can send to your existing provider. This will help to keep your rates low and it will eliminate the hassle of cancelling one merchant account just to open another.
About The Author
This article about considerations before you cancel a merchant account and more can be found at Merchantcouncil.org to help you find the best merchant account for your credit card processing needs.
http://www.merchantcouncil.org
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