Standardization of legal documentation for Collective Investment Funds in Securitization Tender

Procurement Summary

Country : USA

Summary : Standardization of legal documentation for Collective Investment Funds in Securitization

Deadline : 29 Nov 2023

Other Information

Notice Type : Tender

TOT Ref.No.: 92281056

Document Ref. No. : 0002005156

Competition : ICB

Financier : International Finance Corporation (IFC)

Purchaser Ownership : Public

Tender Value : Refer Document

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Tender Details

Tenders are invited for Standardization of legal documentation for Collective Investment Funds in Securitization.

As part of the Joint Capital Markets Program (J-CAP); The World Bank Group (WBG) supports the development of local capital markets in Morocco. One of the axes of this program is the deepening of the securitization market. The securitization market in Morocco remains limited but could play a considerable role for economic recovery after the Covid-19 pandemic. In December 2022; there were 18 Collective Investment Funds in Securitization (FPCT) in Morocco; managing net assets of 14 billion dirhams. FPCTs cover securitization operations of different asset classes; ranging from mortgages; from commercial receivables to receivables resulting from consumer credit contracts and usufruct rights established on real estate assets. Securitization transactions may also have the purpose of providing financing or guaranteeing credit or insurance risks. To stimulate the growth of the securitization market while preserving financial stability; the GBM supports the Moroccan Capital Market Authority (AMMC) and the Association of Securitization Fund Managers (AGFT) in a project to optimize the legal documentation of FPCTs; namely management regulations and information documents. The missions of the legal advisor will concern in particular the following two elements: 1. The review of the Moroccan framework and international references 2. The standardization of securitization operations and the drafting of standard document models The details of the project are described in the ToR and the announcement of the project. The consultation is expected to last 70 working days. Given the importance of this project; it was agreed to finalize it as quickly as possible; ideally before the end of November 2023.

Issue Date and Time: Nov 15, 2023 05:39
Closing Date and Time: Nov 29, 2023 23:59.

Documents

 Tender Notice