You're exactly right. I looked into the particular company mentioned in OP's post and everything seems above board.
Cogency Global is a registered agent and makes sure GoFundMe's business paperwork is filed in compliance with all laws and regulations in various countries around the world.
This link describes why lenders might find Cogency Global attractive to their needs-
Fast, responsive service is critical to your success as a lender. Complete your deals with the confidence of the most responsive and reliable service in the business. We provide specialized due diligence and filing services for the lending industry.
https://www.cogencyglobal.com/lenders
The next link is to a White Paper designed for decision makers in a company, and does a good job of explaining what process agents are and what they do-
In a cross-border financing transaction, parties to the agreement must negotiate a choice of law clause specifying that any disputes under the agreement will be determined in accordance with the law of a particular jurisdiction. While the choice of law can vary, New York, Hong Kong and the U.K. are commonly chosen jurisdictions due to their established commercial laws.
When parties agree on a choice of law in a jurisdiction where they don’t have a physical presence (i.e. an address), a process agent from that jurisdiction is appointed. What does this process agent do? The role of the process agent is to act as a representative upon whom court papers may be served, on behalf of the appointing parties, and to deliver those court papers per the instructions of the appointing parties.
Multiple parties may be required to appoint a process agent in one single financing transaction, and the same process agent may be named in more than one agreement. Typically, the fee charged is based on the number of parties appointing a process agent and the number of years in the transaction. Lenders generally prefer that the process agent is unable to resign for the term of the agreement, creating an irrevocable or binding appointment. Irrevocable appointments are paid in advance for the full term of the agreement.
https://www.cogencyglobal.com/hubfs/US_What_is_a_Process_Agent_Eng_Jul2020.pdf
You're exactly right. I looked into the particular company mentioned in OP's post and everything seems above board.
Cogency Global is a registered agent and makes sure GoFundMe's business paperwork is filed in compliance with all laws and regulations in various countries around the world.
This link describes why lenders might find Cogency Global attractive to their needs-
https://www.cogencyglobal.com/lenders
The next link is to a White Paper designed for decision makers in a company, and does a good job of explaining what process agents are and what they do-
In a cross-border financing transaction, parties to the agreement must negotiate a choice of law clause specifying that any disputes under the agreement will be determined in accordance with the law of a particular jurisdiction. While the choice of law can vary, New York, Hong Kong and the U.K. are commonly chosen jurisdictions due to their established commercial laws.
When parties agree on a choice of law in a jurisdiction where they don’t have a physical presence (i.e. an address), a process agent from that jurisdiction is appointed. What does this process agent do? The role of the process agent is to act as a representative upon whom court papers may be served, on behalf of the appointing parties, and to deliver those court papers per the instructions of the appointing parties.
Multiple parties may be required to appoint a process agent in one single financing transaction, and the same process agent may be named in more than one agreement. Typically, the fee charged is based on the number of parties appointing a process agent and the number of years in the transaction. Lenders generally prefer that the process agent is unable to resign for the term of the agreement, creating an irrevocable or binding appointment. Irrevocable appointments are paid in advance for the full term of the agreement.
https://www.cogencyglobal.com/hubfs/US_What_is_a_Process_Agent_Eng_Jul2020.pdf
You're exactly right. I looked into the particular company mentioned in OP's post and everything seems above board.
Cogency Global is a registered agent and makes sure GoFundMe's business paperwork is filed in compliance with all laws and regulations in various countries around the world.
This link describes why lenders might find Cogency Global attractive to their needs-
https://www.cogencyglobal.com/lenders
The next link is to a White Paper designed for decision makers in a company, and does a good job of explaining what process agents are and what they do-
In a cross-border financing transaction, parties to the agreement must negotiate a choice of law clause specifying that any disputes under the agreement will be determined in accordance with the law of a particular jurisdiction. While the choice of law can vary, New York, Hong Kong and the U.K. are commonly chosen jurisdictions due to their established commercial laws.
When parties agree on a choice of law in a jurisdiction where they don’t have a physical presence (i.e. an address), a process agent from that jurisdiction is appointed. What does this process agent do? The role of the process agent is to act as a representative upon whom court papers may be served, on behalf of the appointing parties, and to deliver those court papers per the instructions of the appointing parties.
Multiple parties may be required to appoint a process agent in one single financing transaction, and the same process agent may be named in more than one agreement. Typically, the fee charged is based on the number of parties appointing a process agent and the number of years in the transaction. Lenders generally prefer that the process agent is unable to resign for the term of the agreement, creating an irrevocable or binding appointment. Irrevocable appointments are paid in advance for the full term of the agreement
https://www.cogencyglobal.com/hubfs/US_What_is_a_Process_Agent_Eng_Jul2020.pdf
You're exactly right. I looked into the particular company mentioned in OP's post and everything seems above board.
Cogency Global is a registered agent and makes sure GoFundMe's business paperwork is filed in compliance with all laws and regulations in various countries around the world.
This link describes why lenders might find Cogency Global attractive to their needs-
https://www.cogencyglobal.com/lenders
This link is also provided in PDF format as a White Paper for decision makers in a company, and does a good job of explaining what process agents are and what they do-
https://www.cogencyglobal.com/hubfs/US_What_is_a_Process_Agent_Eng_Jul2020.pdf