Underwriting involves the detailed credit analysis and the due diligence, based on credit information and financial statements furnished by the borrower, publicly available information, and our evaluation of the borrower's credit needs and ability to pay.

After assessing the eligibility, including ability to pay, of a customer who issues instruments of debt or equity, we agree to liquidate the instruments immediately upon their issuance till the syndication is conduced.

We assume the risk of having to hold the instrument on our own account until such time in the future that they may be favorably sold.