Spera Bank New Client Booklet

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Revision as of 19:45, 11 January 2020 by Pres.Texas (talk | contribs) (Pres.Texas moved page Spera Bank Charter to Spera Bank New Client Booklet: Charter implies governing doc, whereas functionally this was always meant as an info handout for new and prospective clients)

Spera Bank was founded in late November 2019. Csans and General of the Union bought the rights to the bank from a new player and decided to run the bank as a joint venture. The word ‘Spera’ is Latin for trust and we believe that this name epitomizes our ethos. We pride ourselves on our integrity, equitableness, and outstanding customer service. We also value the privacy of all of our clients, whether they are investors or borrowers. Yet above all, we place huge value on transparency, therefore we will provide weekly, monthly and quarterly updates on all of our operations.

We hope that you have a great experience at Spera Bank and if you have any questions, please do not hesitate to ask.

Mission Statement

“Our aim for this bank is to make Orbis a good environment for investors again - so that they can again trust in institutions like ours, without fear of their money being stolen or scammed. Investors will be treated fairly and with respect and at the same time, their investment will be put to good use for the community, so that smaller nations and alliances can get fair loans, but with little risk to the bank. At Spera, we will not be doing multi-billion dollar loans, and will most likely not accept multi-billion dollar investments - small nations will be encouraged just as much as large ones to invest, and both will reap the rewards. We appreciate that this will be hard, but we feel that it will be for the good of Orbis if this environment can be established again and we will do all that we can for that to become possible.”

Loans & Lending Conditions

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Leadership Team Board of Trustees FAQ Voting Record
Savings Accounts :: Bonds :: Loans :: Annuities :: Balance Sheet :: Jobs

At Spera Bank, we believe in offering fair loans to everyone. We believe that we have achieved this aim with the loans that we offer. The riskier the loan is for us, the higher the interest rate is. We aim to offer our loans for between 2 and 12 weeks. Our focus is largely on smaller nations, younger nations. One of our favourite terms is that we're helping the Goldfish to become Koi, starting their journey to Whaledom.

Client Types

No other Bank in Orbis offers a loyalty system as rewarding and comprehensive as ours. This system replaces our old loyalty programme and is much more integrated into our systems and procedures.

First Time Borrower

A first time borrower who is unable to make their payments on time, every time, will not be advanced upon the conclusion of their first loan, and will instead remain classified as a first timer until they're able to complete a loan without missing payments or making late payments.

Ideal Client

An ideal client is a client who repays every loan on time, every time. They completed a loan with prompt repayments. We never need to find them, and we never need to worry about if we’re going to see the money from them. Should an "ideal" client make late repayments, they will be downgraded back to first timer status and will need to re-earn their status on a subsequent loan.

Exceptional Client

An exceptional client transcends the minimums of an ideal client, and also has taken at least seven loans with us. All of their payments have been prompt. In addition, they have brought at least three new ideal clients our way, or they have demonstrated their exceptional worth to the SMT in some other way. Should an "exceptional" client make late repayments, they will be downgraded back to the "ideal" grade, will need to bring us three new ideal clients, and once again demonstrate that they are exceptional before returning to this grouping.

Trusted Patron

Trusted patrons are the crème de la crème at Spera Bank. These individuals are highly prized for their consistently solid reputation as exceptional clients, and they are also actively supporters of the bank. They have brought at least seven new ideal clients, have taken at least seven loans since becoming exceptional, or a combination thereof. Trusted patrons who make a late payment may be forgiven their forgetfulness, however if it becomes a common occurrence they will be downgraded. As a token of our continued appreciation, Trusted Patrons receive a free ticket each week for the Orbis Lottery (quick-pick).

Lending Rates

Interest rates are always at the discretion of the Bank. We aim to find a happy medium between our profitability and yours. When borrowing money, the following is table and accompanying discounts are used by the staff to come up with your interest rate. We will also take into account the size of your nation, your ability to afford the loan, and your longevity within Orbis. Players who've re-rolled and have a smaller nation are still encouraged to apply. Just know we'll ask you some questions to help determine the best course of action here.

Loan is under $100 million Loan is $100-$250 million Loan is $250-500 million Loan is over $500 million
First Time Borrower 4.5% - 6.5% interest 4.0% - 6.0% interest Unavailable Unavailable
Ideal Client 4.5% - 5.5% interest 4.0% - 5.0% interest 3.5% - 4.5% interest 3.0 - 4.5% interest
Exceptional Client 4.0% - 5.0% interest 4.0% - 5.0% interest 3.5% - 4.5% interest 3.0 - 4.5% interest
Trusted Patron 3.0% interest 3.0% interest 3.0% interest 3.0% interest
• Formerly Gold or Platinum client, 0.5% reduction on your first loan under the new system • Lotto makes 1 winning ticket each draw for 0.5% reduction on your next loan (non-transferrable)
• Express Transfers (this loan can only be repaid via bank-to-bank transfer), 0.5% reduction • Loan Co-Signed (Co-Owned) by a top-50 alliance, 0.5% reduction
• Client has provided at least 30% collateral, 0.5% reduction • Client's alliance has signed a protection deal with Taith, 0.5% reduction

Approvals Process

Depending on the amount you are looking to borrow from Spera, you may experience a delay in service while the loan is worked and approved by the necessary bodies.

Loan is under $100 million Loan is $100-$250 million Loan is $250-500 million Loan is over $500 million
First Time Borrower Deputy CFO Deputy CFO or any SMT Unavailable Unavailable
Ideal Client Loan Agent Deputy CFO or any SMT Any SMT All SMT & Chair
Exceptional Client Loan Agent Loan Agent Deputy CFO or any SMT All SMT & Chair
Trusted Patron Loan Agent Loan Agent Deputy CFO or any SMT Any SMT & BT

Prioritizing Competing Requests

The nature of the business is that there will be times that we have multiple customers seeking to borrow money where we are not able to satisfy all of the requests. When this happens, we use the following worksheet to help figure out which loan has a higher or lower priority.

Consideration Consideration Consideration
0 First Time Borrower 5 Loan is over 500m 10 Collateral
5 Ideal Client 10 Loan is 250-500m 10 CEO vouches
10 Exceptional Client 20 Loan is 100-250m 10 Chair vouches
20 Trusted Patron 50 Loan is under 100m
1n Completed Loans 10 Co-signed by an alliance

Lending Terms and Conditions

  1. By taking a loan from Spera Bank, you agree to waive your alliance protection and the protection of any organisations you retain membership. We reserve the right to take any action necessary in the event of a default.
  2. Borrowers must stay in our Discord server for the duration of their loan. Leaving our server without informing the bank and obtaining previous authorisation with an active loan shall be considered a default.
  3. Should an alliance borrow money and is then either usurped, disbands or defaults on their loan, the government officials who borrowed the money that the alliance co-signed for will be responsible in its totality. At our discretion, we may also hold other members of the former or new government, or the newly installed government, accountable for the outstanding debts.
  4. Loan payment is technically on Friday from 00:00:01 to 23:59:59 UTC. We will accept a loan payment made any time on either Friday _or_ Saturday UTC as _on-time_. Any loan payment made after this is considered a late fee and is subject to the penalties prescribed below. Failure to pay on time may result in us declaring t.
  5. Interest is payable every week. So even, for example, you take out a $100m loan at 4% interest and pay it all back in week one, you should still pay $104m total.

Penalties, Fees, and Repercussions

Any borrower who does not make a payment on time without advance discussion and authorisation from the bank staff will have the following fees and penalties added onto their loan. To avoid these, if you find you're in trouble and aren't going to be able to pay, have a conversation. We're not looking to gouge: if you need to modify, reduce, postpone, we'll try to come up with a balance.

Any customer that makes any payment late will incur a 1% fee on the current balance, compounding, daily until the customer has made their loan payment. An additional fee will be added to the balance of the loan if the borrower misses a second scheduled payment. Fees will be determined at the greater of either, and is in addition to any additional terms set at the beginning of the loan contract:

  1. 10% of the original principal amount
  2. 10% of the current total balance

At its sole discretion and strictly for small nations with limited earning potential, Spera Bank may elect to offer the following as a one-time-only kindness:

  1. 1% of the original principal amount added each day.
  2. If the borrower defaults a second time during the life of that loan contract, then the difference of this reduced late fee and the standard late fee will be assessed onto the agreement.

Any customer who fails to make any payment on time surrenders to Spera Bank, its officers, agents, and successors its sovereignty. Spera Bank may elect to utilise any means at its sole discretion to recover the balance of that payment due, as well as any additional expenses incurred in the endeavour.

  1. Any customer who is also a leader or government officer of an alliance further affirms that its alliance and all members will be subject to these terms, and Spera Bank may seek to recover any portion of the due payments from any available members. The leader, as mentioned above or officer, agrees that this is justifiable and they are fully responsible for the incursion on their alliance.

Investing into Spera

  • If you've taken the awesome step of becoming a Spera Bank Shareholder, then you earn dividends. Spera pays 50% of its profits as dividends proportionally to its Shareholders monthly, at the end of each month.
  • Investors who have chosen to purchase Zero-Coupon Bonds will receive their original investment plus the interest at the maturity date of their bond. There are no intermediate payments.
  • Patrons who choose to open savings accounts with us receive monthly interest paid on the balance of their account balance. We follow the novel practice of paying interest on the average balance for the entire month. This discourages dishonest and generally negative individuals from depositing large balances at the end of the month and then trying to withdraw them at the beginning of the month.

Investor's Bill of Rights

  1. The amount of profit that goes to investor dividends is proportional to the amount of shares sold. For example, if all the shares were sold, 50% of the banks profit would go to dividends, but if only 1,000,000 shares had been sold, 10% of the profit would go to dividends. The rest would be put in reserve.
  2. The dividends for each investor are proportional to their amount of ownership - ie. if you own 1% of the bank (100,000 shares), you would get 1% of the profit in dividends.
  3. Every investor will receive dividends monthly. Dividends will be paid on Saturday.
  4. Every Investor is automatically a member of the board.
  5. The number of votes that an Investor has is entirely based on their ownership of the company. For every 1000 shares that an investor owns, they receive one vote.
  6. An investor may sell their shares to any other shareholder, at any time. The Bank's management must be notified of any transactions. In the future, a public share market will be opened.
  7. If a shareholder goes inactive for over two weeks, without prior notice, their dividends may not be sent to them. Instead these dividends will be redistributed.
  8. If a shareholder is inactive for over two months (excluding vacation mode, with prior communication), their shares may be auctioned off among other shareholders. The rules for this will be set out if and when they are needed.
  9. The bank has the right to buy shares back from the investor at any time, at a price agreed by both parties.
  10. In the infinitesimally unlikely event of the bank going bankrupt, the management will do everything in its power to ensure that shareholders are remunerated to the greatest extent possible, however, shareholders should note that buying shares comes with inherent risk and there is absolutely no guarantee that your investment will be reimbursed.

Spera Bank Loyalty System

No other Bank in Orbis offers a loyalty system as rewarding and comprehensive as ours. This system replaces our old loyalty programme and is much more integrated into our systems and procedures.

First Time Borrower

A first time borrower who is unable to make their payments on time, every time, will not be advanced upon the conclusion of their first loan, and will instead remain classified as a first timer until they're able to complete a loan without missing payments or making late payments.

Ideal Client

An ideal client is a client who repays every loan on time, every time. They completed a loan with prompt repayments. We never need to find them, and we never need to worry about if we’re going to see the money from them. Should an "ideal" client make late repayments, they will be downgraded back to first timer status and will need to re-earn their status on a subsequent loan.

Exceptional Client

An exceptional client transcends the minimums of an ideal client, and also has taken at least seven loans with us. All of their payments have been prompt. In addition, they have brought at least three new ideal clients our way, or they have demonstrated their exceptional worth to the SMT in some other way. Should an "exceptional" client make late repayments, they will be downgraded back to the "ideal" grade, will need to bring us three new ideal clients, and once again demonstrate that they are exceptional before returning to this grouping.

Trusted Patron

Trusted patrons are the crème de la crème at Spera Bank. These individuals are highly prized for their consistently solid reputation as exceptional clients, and they are also actively supporters of the bank. They have brought at least seven new ideal clients, have taken at least seven loans since becoming exceptional, or a combination thereof. Trusted patrons who make a late payment may be forgiven their forgetfulness, however if it becomes a common occurrence they will be downgraded. As a token of our continued appreciation, Trusted Patrons receive a free ticket each week for the Orbis Lottery (quick-pick).