SignaEnforce FX coverage at drawdown.
Investors fund credit originators in dollars; those originators lend to businesses that repay in local currency. If that currency falls, the dollar value of the loan book falls with it.
Traditionally, the originator promises to maintain FX cover as a condition of the loan. But that covenant is checked on a reporting cycle, so a hedge can lapse while new capital is still drawn.
Signa Covenant checks authenticated FX coverage at each drawdown. If cover is insufficient, capital does not move.
Signa Covenant checks coverage first.
The investor sets the terms first
The investor fixes how much cover the loan needs, how old evidence may be, and what cash stays back. Nobody can change it afterwards.
Facility RegistryTwo parties sign what they can see
The servicer signs what is owed. The hedge provider signs what is covered. Each key is one the investor approved, so neither can restate the other. Mock issuers in this demonstration.
Credential RegistryA genuine signature is not enough
A statement can be genuine and still count for nothing — too old, wrong currencies, or maturing early. What survives is cut five per cent, then capped.
Coverage EngineThe vault runs the test as the money moves
A draw makes the vault re-read both statements and test them in the same transaction. Enough cover and the dollars leave; short cover and it refuses.
Covenant Vault
