# Loan Confirmations

The purpose of a Loan Confirmation is to confirm the terms and condition of the Loan entered into under the Master Loan Agreement. Loan Confirmations are legally binding documents issued to each Lender via email on the day of Loan Commencement. 

Loan Confirmations contain the key terms of loans made through the platform, including:

<table><thead><tr><th width="205">Field </th><th>Description</th></tr></thead><tbody><tr><td>Loaned Asset</td><td>The digital asset being lent; only USDC at this time. </td></tr><tr><td>Loan Amount</td><td>The principal of the loan in USDC. </td></tr><tr><td>Confirmed Loan Fee Rate</td><td>The fixed rate of interest payable to Lenders </td></tr><tr><td>Advisory Fee Rate</td><td>The % per annum paid by the Borrower to the Advisor, Five Sigma Finance Ltd</td></tr><tr><td>Platform Fee Rate</td><td>The % per annum paid by the Borrower to the Platform Provider, OpenTrade Technology Ltd</td></tr><tr><td>Contractual Currency</td><td>The underlying contractual currency in which assets and liabilities are denominated for audit and accounting purposes. </td></tr><tr><td>Collateral</td><td>The collateral securing the loan</td></tr><tr><td>Settlement Date</td><td>The date by which the Lender must deliver Loaned Assets to the Borrower</td></tr><tr><td>Loan Commencement Date</td><td>The date on which the Loan commences and interest and fees begins accruing. </td></tr><tr><td>Payment Date</td><td>The date on which the Borrower will deliver back to the Lender the Loan Amount plus Confirmed Loan Fee accrued in USDC, as well as when the Borrower will pay other fees specified under the Loan Confirmation.</td></tr><tr><td>Early Withdrawal Processing Period</td><td>The number of business days required to process Early Withdrawal Request(s) and deliver back to the Lender the Early Withdrawal Amount in USDC. </td></tr><tr><td>Early Withdrawal Request Fee Percentage</td><td>When the Lender requests to terminate a Loan (in part or in whole) via an Early Withdrawal Request, a fee equal to the amount of the Loan multiplied by the Early Withdrawal Request Fee Percentage will be deducted from the amount of the Loan to be terminated and paid to the Platform Provider.</td></tr><tr><td>Loan Maturity Date</td><td>The date on which the Loan terminates. </td></tr><tr><td>Automatic Roll-Over</td><td>By default, all loans have Automatic Roll-Over selected. Should a lender wish to change this, they can submit a Roll-Over Termination Notice via the Platform and the Loan will be repaid by the Payment Date. </td></tr><tr><td>Roll-Over Collateral</td><td>The eligible collateral to be used for the Roll-Over Loan.</td></tr><tr><td>Roll Date</td><td>The date on which the Rollover Loan commences, which is always the same business day as the Loan Maturity Date of the prior Loan(s). </td></tr></tbody></table>


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