Amhurst Asset Exchange

Asset Exchange Contracts

Heritage Bond Trading

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Establishing Buyer & Seller
Credentials procedure using
Credentials
a Secured Data Exchange or
“VDR”, and Title Transfer and
Asset Hand-Over procedure
Hand
using a Secured Depository
using
Trust Company (“SDTC”).

Presented by:
The AmhurstFinancial Group

© 2010 The Amhurst Financial Group

Introduction to Asset Exchange Contracts

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Heritage Bond Trading

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In order to obtain a better command of the Heritage Bond markets on a global basis and
starting off with the feedback obtained from the players of the market with whom we have
interacted initially, we havedrafted the present document with two basic aims; first it is to
adapt and to norm our participation in a market whose “savoir faire” is very particular, and
the second is to offer to our Prospective Sellers the certainty that it is possible to
amalgamate their interests with those of our Prospective Buyers, as well as the other wat
around.

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The Amhurst FinancialGroup

In
In a pressed market, to whom does this Mechanism serves
The Asset Exchange (Heritage Bond) market, is a market marked by the distrust, where
there is a model of businesses highly competed by the Sellers (the “Sellers”), that already
model
Sellers
can
can be fulfilled or be failed to fulfilled and a certain mass of Asset Demand Numbers (the
“Buyers”).
For reasons applicable toour positioning as Investment Bankers and looking forward to be
and
the difference, we have chosen to be the intermediators of choice when dealing in Asset
we
Exchange venues. It is to those Buyers and Sellers marked by the comings and goings in
It
this market, to whom we put to their consideration this mechanism.
we
The Ideal Situation and the Current Situation in an Asset Exchange
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In an ideal environment, the Seller of an Asset knows and trust the Prospective Buyer,
either because of its profile or are in the same industry; at any rate the potential Asset
Exchange is not marked by distrust.

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Figure 1.- A One On One relationship

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In other words;

Figure 2.- An Ideal ValueModel

However,
However, in the particular arena of the Heritage Bonds, however, distrust, skepticism and
vulgarization of data, offers and even vulgarizing the players seem to be the current norm;
the reason being is that in an effort to maximize the possibility of a sale, in an environment
ze
where
where most of the players understand the fungibility of the Heritage Bonds as an asset thatcould be an avenue of financial enhancement, little do they know about their origins,
features and limitations. Notwithstanding the former, the sole knowledge of their fungibility,
ithstanding
has
has made the Heritage Bonds subject to a naked speculation by uncontrolled brokers, to
the point of vulgarization and perversity. Also, very important to know, is that the
prospective amounts ofcommissions to be paid create inflation like multiplication of
of
like
brokers and documents.

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Legit
Legit Bond Owners provide a mandate to market their assets to an individual, basically on
a personal trust basis; the Mandates do circulate the offer to as many brokers as possible
the
in order to secure a sale, creating awaterfall effect in the market.

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Figures 2 & 3 Vulgarization in opposite directions

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Over
Over time, some brokers have developed a capacity to flip the sale process, so, instead of
being the intermediaries of the sale, they attempt to become buyers and resellers by
of
flipping the process.

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The
The vice versa happens in the Buyer side of the equation;

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