Christopher Geoghan
Bayport, NY (USA)
Role(s):
UIA Diversifed Corp
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Startup
Location:
Bayport
Industry:
Finance
Year Founded:
2006
Number Employees:
INVALID
Description:
INSURANCE PREMIUM FINANCING. WE FINANCE COMMERICAL INSURANCE PREMIUMS ON A SECURED CONTRACT. WE REQUIRE A 25% DOWNPAYMENT WHICH REPRESENTS 91 DAYS OF A 365 DAY ANNUAL PREMIUM. THE INSURED SIGNS A FINANCE CONTRACT GRANTING THE FINANCE CO. POWER OF ATTY. TO CANCELL HIS POLICY IF HE DEFAULTS ON HIS PAYMENTS. THE INSURED (POLICY HOLDERS ) FIRST PAYMENT IS DUE 30 DAYS FROM INCEPTION . IF INSURED DEFAULTS ON HIS PAYMENT THE FINANCE CO. MUST GIVE HIM 5 DAYS GRACE PERIOD , AFTER THE 6TH DAY THE FINANCE CO. ADDS 5% LATE FEE AND ISSUES AN INTENT TO CANCELL NOTICE GAANTING THE INSURED 15 ADDITIONAL DAYS TO GET HIS PAYMENT TO FINANCE CO. . IF PAYMENT IS NOT RECEIVED BY THE END OF THE NOTICE OF CANCELLATION PERIOD ,THE FINANCE CO. SENDS A COPY OF THE CANCELLATION NOTICE TO THE INSURANCE COMPANY . THE