Situation-based service modules along the operational phases
Backup Servicing with Curadino
Project Phase
Technical onboarding of the SPV into the Curadino structure
Standby Phase
Continuous monitoring of assets and data quality
Active Phase
Operational responsibility and servicing of the asset portfolio
Project Phase
The starting point is the Project Phase, which begins after Curadino has been successfully mandated by the financing partner or the OpCo. During this phase, the various services are finally identified and specified in order to establish corresponding digital interfaces and processes, as well as to set up the data model within the separate transaction environment (tenant) on the Curadino platform. In parallel, the various service partners in the Curadino network are parameterized according to the requirements and scope of the transaction, and their back-to-back interfaces are implemented. This preparation process concludes with a successful data transfer, including all associated validations, which are recorded in a joint protocol at the end and mark the start of the Standby Phase for the financing partners.
Standby Phase
In the Standby Phase, Curadino receives relevant data cyclically according to defined requirements (daily, weekly, monthly, etc.) and validates it against the initially defined quality and plausibility checks. In addition, various recurring operational processes are validated and tested, both on Curadino’s side and as part of audit activities in the operational business of the OpCos and other borrowers.
Active Phase
The transition to the third phase, the so-called Active Phase, takes place at the request of the financing partner or other parties defined in the contractual agreements, who inform Curadino about the change from the Standby Phase to the Active Phase. Common triggers for such a change and the activation of Curadino include potential breached covenants, challenges in operational performance, licensing or other regulatory reasons, or similar challenges. Once the activation event has been proclaimed, Curadino begins its diverse operational activities to secure the various assets. Depending on the financing profile, two fundamentally different premises can be assumed – the “run-off” variant, in which Curadino, primarily with logistics partners, collects large quantities of assets within defined periods and secures them for the financing partner, e.g., for subsequent sale for monetization.
The alternative option is the so-called “continued operations,” in which the FinCo, in the name of the secured financing relationships, ensures the operation of the original business model for the remaining term of, for example, long-term leases and the like, before the assets are then returned and liquidated.
In both variants, Curadino can fully leverage the capabilities of its internationally available network and take over the respective operational activities for the duration that has been requested and agreed upon.
Upon completion of the activities, an orderly ramp-down of the operational services takes place, followed by a final handover to the FinCo, which is usually liquidated thereafter.
Warm, Cold, or Hot Backup Servicing differ primarily in how quickly the backup servicer can take over after an OpCo failure. While Cold BUS requires several months of lead time and Hot BUS is ready for use within a few days, Warm BUS usually offers the most economically sensible middle ground with an activation time of about two to four weeks.
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