Collateral appendices that slow Korean lease approvals
Lease and equipment facilities live or die in the appendix. The cover letter can be eloquent; the lessor’s clerk still needs serial numbers.
Serials and model names
Invoices, delivery notes, and the collateral schedule should name the same units. Family names (“imaging suite”) without unit IDs invite clarification letters.
Insurance dated past drawdown
Certificates that expire before the proposed commencement date are a common finding in our collateral reviews. Replace them before submission when you can.
Valuation language
If you attach a valuation, check that the property description matches the registry extract and the security summary in the narrative. Soft or informal “broker opinions” should be labelled honestly so they are not mistaken for formal appraisals.
None of this replaces counsel on enforceability. It does keep the finance approval application from stalling on paperwork the lessor will ask for anyway.