What is a Sales Certificate?

Benefits to Issuers

Benefits to Investors

Certificates are an innovative financial instrument that allow investors new opportunities and issuers added flexibility. The logic is straightforward: an issuer promises to pay an investor a specified percentage of revenues for a certain period of time. At the end of the time period, the Certificates expire.

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FAQ

The potential for Certificates is large, with opportunities in at least three areas:

1. Current debt markets:
   Certificates offer a viable alternative to current fixed income vehicles.
2. New market participants:
   • Firms with opaque income statements
   • Insurance Firms
   • Firms with few tangible assets such as professional organizations
   • Firms operating under Shari'ah law
3. Synthetic markets

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Potential investors include those:

1. needing securities with significant cash flows
2. bound by Shari'ah law
3. needing protection from unexpected inflation

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Note: The securitization of Sales Certificates is covered by US Patent 7,149,719 issued 12 December 2006.