WEST RIDGE EXECUTIVE PLAZA

Mark Warner asked:


An Executive Employment Agreement is a binding agreement for employment between a company and an executive. In exchange for valuable consideration given by the company, the executive is agreeing to perform certain services. In contrast to an Executive Compensation Agreement, Executive Employment Agreements are binding, and by executing the agreement, both the company and the executive are promising to perform under the agreement’s terms.

Executive Employment Agreements should begin with a “Recitals” section that lays out the overall purpose of the agreement. Each recital begins with “WHEREAS.” Generally, the first recital should state simply that the “Employer’s Board of Directors desires to employ Employee in an executive capacity and Employee desires to be so employed in that capacity.” After any other applicable recitals, the agreement should say “THEREFORE, in consideration of the mutual covenants and conditions set forth below, the parties agree as follows.”

The following are key provisions commonly found in Executive Employment Agreements:

1. Term. The length of the term of the agreement and the termination date should be provided. Also, any understanding regarding the option to renew the agreement, either on the executive’s side, the company’s side, or both, should be addressed. Most likely, the contract will be renewable or extendable under the same terms expressed in the agreement upon mutual agreement of the parties.

2. Compensation and Benefits. First, this provision should list the employee’s annual salary. Next potential salary adjustments, either increases or decreases, should be laid out. The executive may be able to negotiate for an automatic salary increase if a certain event occurs, such as a merger, sale of the company, or accomplishment of certain goals. The employee’s benefits package must also be described, including any stock options, health insurance, expense accounts, and vacation time.

3. Duties of Employee. The employee’s position should be listed again, and his expected duties should be described in detail. If the precise services of the executive may be extended or curtailed by mutual agreement, this should be listed as well. Executive should promise to undertake the responsibilities for and devote his productive time, abilities, and attention to the business of the employer during the term of the Agreement, as well as comply with all federal, state, and local laws.

4. Duties of Employer. The employer should promise to pay all compensation, benefits, and allowances as set forth in the agreement. The employer should also agree to provide offices, and if agreed upon, “stenographic help” (a secretary) as appropriate.

5. Confidential Information. The employee must agree to keep confidential information confidential and to refrain from disclosing confidential information to any third party during the term of his employment and for a period of time following his employment, which could be anywhere from one to three years or longer.

6. Non-Competition. The company should require the executive to promise not to work, directly or indirectly, as an owner, partner, manager, officer, employee, or consultant for any business that competes with the employer during the term of the agreement and for a certain period of time afterwards.

7. Termination. The agreement should spell out whether or not the employee can be terminated only for cause, or for any reason at all. If only for cause, then cause must be defined. One possible definition for cause would be: (a) any breach of any material obligations owed to employer; (b) failure to follow a directive of the company’s Board of Directors; or (c) conviction of a felony or any act involving moral turpitude. The severance pay that will be owed to executive upon termination either for cause or without cause should be provided.

These are the most important provisions of an Executive Employment Agreement. General provisions covering consequences of breach, assignment, modification, governing law, and severability should round out the agreement. For more information or to download part or all of actual Executive Employment Agreements, please visit the Agreement section of the Real Deal Docs website and conduct a search accordingly.

Indore Management Institute asked:


Indore Management Institute (IMI), one of

the premier management institute in the

country, Indore Central India announces

admissions in

- Two year MBA program for residential students.

- One year MBA program for the working professional.

- Customised MBA program for the corporate.

- 3 Years Full Time (Regular) BBA & B.Com

courses. The details are as follows:

Contact details

Indore Management Institute

M 4 Mishika Tower Sapna Sangeeta, INDORE M.P.

0731-2478888, 9301230074, 9926023232

Email: info@imi.ac.in  www.imi.ac.in

MBA Courses:

•    MBA – Core (Dual Specialization in Hr, Finance, Marketing)

•    MBA – Banking & Insurance

•    MBA – Retail Management

•    MBA – International Business

•    MBA – Information Technology

•    MBA – Hospital Administration

•    MBA – Educational Management System

•    MBA – Training & Placement

•    MBA – E Commerce

•    MBA + PGP in Pharma

BBA Courses

•    BBA- Bachelor of Business Administration

•    BBA-FT – Bachelor of Business Administration in Foreign Trade

B.Com Courses

•    B.Com (Computer Application)

•    B.Com (Foreign Trade)

•    B.Com (Tax Procedure)

•    B.Com (Advertising & Sales Management)

•    B.Com (E-Commerce)

•    B.Com (Office Management)

Affiliation:

IMI – the top management institute in

Indore, central India has affiliation with

Sighania University for post Graduate

programmes and affiliated with Devi Ahilya

University, Indore aka DAVV, Indore for

under graduate programmes.

Facilities:

•    Free Laptop to every student

•    Free Singapore Study Tour to each student

•    Free 7 Additional diploma/certificates in the fields like SAP, 6 Sigma, ERP, Oracle, E.I., MDP, EDP, IFAIM etc.

•    Prayaas – The Scholarship Program for meritorious students more details..

•    Free Lunch & Bus Facility etc.

•    International Certification from (Management Development Institute of Singapore) MDIS Singapore

•    Regular Industry visits.

•    World’s first Management Lab in which you can do practical of your management theories.

•    CEO of the month activity in which CEO/manager of different companies interact with students.

•    Air Conditioned classrooms.

•    Wi fi Campus

•    Well stocked Library and E Library

•    Sports facility includes: Billiards, Snooker, Basket ball, Table Tennis, Volley Ball, Badminton and many indoor/outdoor

games.

•    Open air Cafeteria

•    Communication lab for language improvement.

•    World’s first institute to publish an

International Management Journal – IMI DISHA within 6 months of its inception.

•    Conducting CEO Roundtable conferences to enhance the placement opportunities for students.

•    Conducting Academia Industry interface to update the course curriculum.

Scholarships

Scholarships are available for All Female students and meritorious male students.

Contact Details

School of Business Indore Management Institute

M 4 Mishika Tower Sapna Sangeeta, INDORE

M.P.

0731-2478888, 9301230074, 9926023232

info@imi.ac.in www.imi.ac.in

With so many facilities and benefits for

students Indore Management Institute has

earned a distinct reputation in central

India. The institute provide 100% placement

assistance to its students. They are

maintaining excellent infrastructure and

educational quality standards. It has

become a well known destination for

management studies not only in Indore but

all over India. Even students from other

countries are joining management courses at

IMI.

Factory Plaza asked:


Are you considering remodeling your old property this year? Then here are some tips to guide you in the process. Every homeowner wants to make his home look beautiful. To make your home look beautiful you will have to select the best things. Selecting the best thing is not all. You need to be careful about the finishing your house. For a proper finishing, one needs to decorate each and every part of the house.

People often do not give much attention to the decoration of the kitchen. Many people concentrate mainly on the living rooms and bed rooms of the house. If you are one of them then change your mind. Take equal care of kitchen renovations if you want to give your house an esthetic look. To make the kitchen look beautiful one just needs to do little modifications of the kitchen.

Sink is one of the most important parts of the kitchen. If you are a homeowner and want to make your kitchen look beautiful then change your old sink immediately. Do not replace it with a sink made up of low quality materials. You should avoid the sinks available at cheaper rate. They do not last for a long period of time and you will have to change it once again. You should always check the quality of the sink before you place an order. A good quality sink will last long and will also change the shabby look of the kitchen.

You can find different materials used to make a sink. The best sinks are those which are made up of granite or marble. Sinks which are made up of stainless steel can also be a good choice. Natural stones like marble are one of the best home improvement products. They are used for floorings and kitchen countertops. You can also find kitchen sinks made up of natural stones. They have an esthetic look and can alter the look of the kitchen.

Among all the other natural stones, marble and granite are the best. There are several reasons for which people prefer them. One of the reasons to prefer granite or marble is their high durability. If maintained properly they can last for several years. The shine of these stones last long if someone take proper care of it. As they are natural stones, you can find a large variety of textures and colors in marble. This will help you select the color and texture of marble that is best for your house.

Apart from marble and granite, you can opt for a kitchen sink that is made up of stainless steel. The sinks made up of stainless steel will last long as it would not be damaged by water. Stainless steel sinks can modify the look of the kitchen. It can make the kitchen look more spacious and beautiful.

Purchase new taps with the new sinks. Change the pipes and remove the old things like worktops and tiles. Laminate the floor and refinish the cupboard to give the kitchen a nice finishing.

Robin Chandler asked:


Why executive coaching services are expanding and how best to use an executive coach.

Why use an executive coach?

Nothing to be ashamed of

Unfortunately, for years, the idea of using an executive coach was looked on as a weakness. Somehow, the higher up people got in a company, the more responsibilities they were supposed to handle without any outward sign that they weren’t superman or superwoman.

It wasn’t even supposed to be the image of the swan – serene and calm on the outside, but paddling like hell underneath. No, people were supposed to look serene and paddle serene as well!

Fortunately, these days things have moved on a lot. It’s not considered a weakness to seek support. At least in some companies. There will always be those that think the stiff upper lip is better than admitting that not only people can’t do it alone, but it’s a whole lot better if they don’t.

All the ‘big people’ have their own coaches, mentors, ‘gurus’, counsellors or wise person. Indeed, having an executive coach is nothing to be ashamed of.

Pressure ‘they’ put on you

You are a key member of your company. People rely on your leadership, interpersonal skills, judgements and decisions and expect you to continually ‘come up with the goods’.

As a matter of course, you are called upon to give keynote speeches, chair crucial meetings, develop strategy and people, focus on succession planning, handle crises and deal with the internal and external pressures that go with your position.

Part of the deal is that others do expect you to handle all that and more with grace, professionalism, energy and enthusiasm. And then there’s the rest of your life, too: all that work-life balance stuff.

Pressure you put on yourself

Not only that, staying under duvet may seem very inviting, especially if you, too, set high (if not impossible) expectations for yourself. Unfortunately, staying under the duvet is not an option most of the time.

Putting additional pressure on yourself is not uncommon. Somehow, the more responsibility people are given, the stronger their sense of obligation. Now, that’s not a bad thing. It’s good to be really committed and responsible.

However, the downside is that people give themselves a really hard time when they don’t live up to the expectations they’ve set themselves. And those expectations are usually way higher than any their companies set. They really get to a point where they can’t see the wood for all the trees they themselves planted.

Good executive coaching should put all these pressures into perspective and give you tools and additional skills to cope more effectively with everything that’s thrown at you.

Benefits of using an executive coach

It’s a place to offload

When you use an executive coach, it’s a wonderful opportunity to offload your concerns, issues and complaints without fear of making a career-limiting move.

Your coach offers confidentiality and objectivity

These are qualities everyone could use in their life. You want to know that what you discuss with your coach stays between the two of you. At the same time, getting an objective perspective on your situation is invaluable.

You will feel more motivated and enthused

When someone is totally on your side and guiding you through some of the rockier times in your working life, energy and enthusiasm are released. It’s very reassuring knowing someone is there.

They will give you unbiased practical support

Without an axe to grind, your executive coach won’t be biased, won’t have the same prejudices and expectations others within your company may have. They will also be able to offer you practical suggestions and options because they may perhaps see your issues more clearly than you are able to.

They bring outside expertise

A good executive coach should have an array of expertise and skills that you may not have. You can expect to have your own knowledge and skill base developed the more you use a coach.

They aren’t part of your company

This is key. An executive coach who isn’t part of your company won’t be caught up in the politics, intrigues, pettiness or even just the day-to-day routines.

They bring an outside perspective

Following on from the above point, the fact that they aren’t part of the company means that they will see everything with ‘untainted’ eyes. In turn, they simply won’t see the things the way you do and will be able to offer you fresh perspectives to help you tackle problems more creatively.

Your confidence will increase

With someone providing unconditional support, fresh perspectives and who is there just for you, your confidence can only increase. Having an executive coach is like having your own private cheering squad (even if a discreet one!).

You’ll get better at what you already do well

A good coach should help you develop what you’re good at. By giving you a variety of skills and techniques, your qualities and talents will grow exponentially.

Leadership and executive coaching

Leadership vacuums

We definitely hear this a lot from our various clients, how there is a big leadership void, how they don’t make leaders like they used to, how things would be better if they only had good strong leadership within their organisations.

We’ve written quite a bit on leadership (link here to leadership docs?), but it’s important to look at leadership in the context of executive coaching.

We agree. There are leadership voids in many organisations. There isn’t however, a lack of people who could fill those leadership voids. The issue seems to be more about how people’s leadership skills and potential are perceived.

Owning up

We think this is one of the best indicators of a good leader: owning up to mistakes and showing vulnerability.

It really is all right to make mistakes. You can’t and won’t know it all and you will ***** up every once in a while – everyone does. When you do, try not to make excuses, point the finger of blame at someone else, sweep it under the carpet and hope it will resolve itself on all its own or justify your own behaviour.

Humility and maturity go hand in hand. When something goes awry, take responsibility for what went wrong and use your executive coach to debrief. The more you can let your coach know what has been going on for you, the better able they will be to give you relevant, practical suggestions to ease you through the rocky times.

Then you’ll be exhibiting true leadership behaviour.

Being a role model

People need role models

Great, even good leaders need to be role models for the people around them. Others look to you for guidance, wisdom, surety and confidence. They rely on your dependability. They want to know you’re handling it all.

So what if you aren’t? Can you still be a role model?

Of course you can.

How executive coaching can help

This is exactly where executive coaching is most needed. In these kinds of situations you can display true leadership behaviour just by having an executive coach.

First, you’ll be demonstrating that you, too, need support, which in turn gives permission to the people around you to acknowledge they might need support as well.

Second, you’ll be letting others know that you aren’t invincible. The knock on effect of that could be that people will be more aware of just how much you have to cope with.

In turn, if chosen well, your executive coach can be one of your role models. Because we can guarantee that your executive coach isn’t invincible either!

Role models aren’t indestructible. And if you want to be a great role model, let other people know it.

Choosing an executive coach

Who’s right for me?

The spectrum of executive coaches and executive consulting services is enormous. The executive coaching services on offer are seemingly endless. Different people offer different skills and it’s really important for you to be clear about what you want from an executive coach.

If you aren’t clear what you want when you start, then that’s one good way to find out if you’ll be able to work with someone: by talking with you even for a brief time, a good executive coach will be able to help you pinpoint exactly what they could do to support you.

But there are some essentials no matter who you use.

Your executive coach has to:

Be trustworthy Be hugely experienced in dealing with a variety of people and issues Have your best interests at heart Be empathetic Have really good counselling skills; be direct and clear Get to the point and give practical suggestions

And most important:

You do have to like them Whatever anyone says, if you or your company are paying for executive coaching support, you absolutely must get on with this person.

Some companies may have a group of executive coaches they know and use. If you don’t like any of them, find your own!

Having an executive coach could be a major relationship in your life. You may use them only once or decide that you want them supporting you in an on-going role. You may decide to have a ‘check up’ or ‘MOT’ once a year.

At Impact Factory, those of us who do executive coaching have all kinds of coaching relationships:

people we see once who have an intensive, powerful and in-depth session people we see regularly who like to know someone is out there just for them people with whom we have a less formal arrangement – they use us as and when things arise and they need an outside eye to help them However and whoever you use, executive coaching could make a significant difference to how you feel and what you do.

Canadian Management Centre asked:


Most people have one. Yet attending to their demands and idiosyncrasies can be nerve-wracking. Wise people engage good boss management strategies. After all, bosses are not exalted and invincible gods. They are human beings with special roles and authority as well as the requisite levels of human weaknesses, problems and pressures.

Assess Leadership Style

Recognize leadership skills inherent in your own boss. This assists you to better understand your boss. You also benefit by becoming a better manager.

Leader #1: The Press Leader

These leaders pretend to be drill sergeants. Low self-esteem and a strong fear of failure drives them. They are impressed by outward displays of project management and busyness.rather than by results. The leader treats people as expeditors who obey orders. They tolerate no mistakes. Trivial details snare their energies and attention. They oversupervise and manage by punishment.

How to handle The Press Leader: Quickly discover on-the-job limits. Determine whether your boss is simply tough or ruthless. The tough leader precisely delegates authority balanced with appropriate responsibility. The ruthless one disregards human factors. If you choose to resist the press leader, do it privately, not within view of colleagues. This way your leader will not lose face. Support your position with plenty of evidence. Otherwise you lose.

Leader #2: The Laissez-Faire Leader

This leader abandons staff. These leaders provide little or no support in tough times. They stipulate little of what is expected of employees. They provide virtually no project management guidance on how to accomplish tasks. While the Press Leader may hover over an employee’s shoulder, this leader does nothing to train or guide. The Press Leader overmanages. The Laissez-Faire Leader overlooks.

Managing The Laissez-Faire Leader: The individual who is self-motivated and needs little praise will work well under this type of leader. This leader craves facts such as costs, statistics and research findings. Provide these facts and figures for your boss, while at the same time trying to stress some human elements. Encourage your boss to clarify exactly what is to be accomplished.

Leader #3: The Participatory Leader

The Participatory Leader is adept at communication procedures. Under this type of boss, employees are given precise feedback and recognition when deserved. The Participatory Leader strives to involve employees in the assessment process. He or she is inspirational and innovative. The Participatory Leader customizes the type and amount of feedback required for each employee.

Managing The Participatory Leader: The most effective way of dealing with the Participatory Leader is to feed back the same techniques that he or she uses with subordinates. Keep them informed of what does and does not work. Since this type of leader is interested in results, your opinions will be heeded.

Leader #4: The Develop Leader

This leader goes a step beyond the Participatory Leader. The Develop Leader fosters staff self-esteem, autonomy and competence. Techniques for success are isolated and taught to subordinates as the need arises. The Develop Leader empowers staff and nurtures a feeling of reverence, not in the boss, but in employees themselves.

There is often a high staff turnover rate for employees of develop leaders. But it is a good one because it is upward. Because this type of leader creates such a high level of competence amongst the ranks through professional development and project management, there is always someone to take over when someone moves up.

Keep Your Boss Happy

• Learn what your boss expects and values.

• Strive for high quality results.

• Solve as many problems as possible without the help of your boss.

• Keep your boss informed.

• Be your strongest critic.

• Get regular feedback from your boss.

• Differ with your boss only in private.

• Save money and earn revenue.

• Be a good leader yourself.

• Promote only valuable ideas.

• After all. Your boss is not interested in the storms you encountered, but whether you brought in the ship.

Graciela Saltise asked:


Manchester boasts a population of over 450,000 & has been a city since 1853. in a 2006 poll of british business leaders, the city was found to be the finest place in britain to establish a corporate. in addition to this, Manchester held the 2002 commonwealth games, & has a number of other connections to sport, comprising of the city being home to man united.

Manchester gained attention in the nineteeth century, when it was at the centre of the industrial revolution. The city was perfect for the textile business as it had a humid atmosphere, in addition to a brilliant supply of water. The city’s rivers also provided water power that powered the machinery in the mills. the plentiful availability of coal and the transportation system of railways and roads also helped it to become an industrial centre. as a result, countless cotton mills began springing up throughout the city.

Manchester’s cotton mills still remain today, although a number of them have been transformed into offices and flats. thanks to the 1996 ira bomb that destroyed a lot of the city centre, Manchester also boasts several modern architecture, too.

There’s lots of things to do in Manchester. From gorgeous green spaces to interesting museums, you can’t be bored in this city.

One of manchester’s finest museum is URBIS, which is the museum of urban life. The museum has many permanent collections, as well as frequent touring exhibits. recent exhibitions have been on gardening and fashion designer matthew williamson.

Manchester is a wonderful place for shopping lovers with a vast range of outlets that cater to any taste. you will find designer stores like office and armani on the city’s vip King Street, as well as larger department stores including harvey nicholls.

Bargain shoppers will be pleased to know that there’s plenty of high-street outlets on Market street. some of the best known outlets are facelift, hmv and Game.

Manchester is renowned for its shopping and it lures many revellers to its numerous night clubs, public houses and bars.

You could have a stylish night in one of Manchester’s elite bars or even a cosy pint of beer in one of the city’s pleasant public houses. Later, you will find a wide variety of night clubs to go to, so you can stay out all night.

The city is also a great place for lovers of live music, as it has got plenty venues. These include the Night and Day and the ruby lounge, which frequently by touring and local bands.

If you’re looking for somewhere special to stay during your manchester visit, you definitely won’t be disappointed. in actual fact, the city has branches of much major chain hotels, comprising of the malmaison & the Hilton.

For travellers on a budget, you will be happy to know that the city has numerous guesthouses & bed and breakfasts too.

Bob Schwartz asked:


Many homeowners make the mistake of thinking re-financing is always a viable choice. This is not always true and homeowners can actually make a significant financial mistake by re-financing at an inopportune time. There are a few classic examples of when re-financing is a mistake. This occurs when the homeowner does not stay in the property long enough to recoup the cost of re-financing and when the homeowner has had a credit score which dropped since the original mortgage loan. Other examples are when the interest rate has not fallen enough to offset the closing costs connected with re-financing.

Recouping the Closing Costs

To determine whether or not re-financing is worthwhile, the homeowner should think about how long they would have to retain the property to recoup the closing costs. This is important especially in the case where the homeowner intends to sell the property in the near future. There are re-financing calculators readily available that advise homeowners how long they will have to retain the property to make re-financing worthwhile. These calculators require input such as the balance of the existing mortgage, the existing interest rate and the new interest rate. The calculator returns results comparing the monthly payments on the old mortgage and the new mortgage and also presents information about the amount of time required for the homeowner to recoup the closing costs.

When Credit Scores Drop

Most homeowners think a drop in interest rates immediately signals that it is time to re-finance the home. However, when these interest rates are combined with a drop in the credit score for the homeowner, the resulting re-financed mortgage may not be favorable to the homeowner. Therefore homeowners should carefully consider their credit score at the present time in comparison to the credit score at the time of the original mortgage. Depending on the amount interest rates have dropped, the homeowner may still benefit from re-financing even with a lower credit score, but it is not likely. Homeowners can take advantage of free re-financing quotes to get a rough understanding of whether or not they will benefit from re-financing.

Have the Interest Rates Dropped Enough?

Another common mistake homeowners often make in regard to re-financing is re-financing whenever there is a substantial drop in interest rates. The homeowner must first carefully evaluate whether or not the interest rate has dropped enough to result in an overall cost savings for the homeowners. Homeowners often make this mistake because they neglect to think about the closing costs associated with re-financing the home. These costs may include application fees, origination fees, appraisal fees and a variety of other closing costs. These costs can add up quite quickly and may eat into the savings generated by the lower interest rate. In some cases the closing costs may even exceed the savings resulting from lower interest rates.

Re-Financing Can Be Beneficial Even When It is a “Mistake”

In reality, re-financing is not always the ideal solution, but some homeowners may still opt for re-financing even when it is technically a mistake to do so. This classic example of this type of situation is when a homeowner re-finances to gain the benefit of lower interest rates even though the homeowner winds up paying more in the long run for this re-financing option. This occurs when either the interest rates drop slightly but not enough to result in an overall savings, or when a homeowner consolidates a significant amount of short term debt into a long term mortgage re-finance. Although most financial advisors may warn against this kind of financial approach to re-financing, homeowners sometimes go against conventional wisdom to make a change which may increase their monthly cash flow by reducing their mortgage payments. In this situation the homeowner is making the best possible decision for his own personal needs. Copyright 2008 Promotions Unlimited – websitetrafficbuilders.com. All rights reserved

Pushpitha Wijesinghe asked:


Standing majestically, in the business district of Wanchai North, Central Plaza is world renowned for its astounding height and amazing architectural features. The building is magnificently positioned at 18 Harbour Road in Hong Kong and is 374 metres in height.

It was the Sino Group and Sun Hung Kai Properties that jointly developed this brilliant masterpiece. The construction of this 78 storey skyscraper was officially completed in August 1995. From the land acquisition to the completion of the project it took nearly 44 months. It is also estimated that to build just one floor it took about 4 days.

Today Central Plaza is an important landmark in Hong Kong. Out of its 78 storeys, 58 are separated as office space. This state of the art structure is fitted with 39 automated high-speed elevators and the overall working population within the building is estimated at a staggering 6,000. The building consists of 2 main components. One is the office tower that stands 368 metres high while the other is the podium block standing 30.5 metres high. One of the most unique and noteworthy features of Central Plaza is its triangular shaped floor plan. It was created in such way to provide maximum office space as well as to enjoy the best views of the harbour.

At the peak of this impressive building stand a neon clock and about 1,000 neon transformers have been used for the front wall. Every fifteen minutes the clock changes its color and every quarter it blinks and displays the time. Every hour a different color appears on this exceptional four bar neon clock. Furthermore, the building is home to the Community Church Hong Kong which is the world’s highest church. It is positioned on the highest floor of Central Plaza.

The Central Plaza is just one out of the many extraordinary Hong Kong attractions and staying at a hotel Hong Kong such as Hotel Jen makes sightseeing much more convenient, relaxing and exciting. With attention to detail and gracious service, Hotel Jen which is an unmatched boutique hotel Hong Kong is an accommodation that is fully fledged to satisfy the needs of even the most discerning travellers from around the world.

Rik Johns asked:


Ever wondered what the difference is between secured car loans and personal unsecured car loans and how that difference affects your finance and their repayments.  The car loans terms can be only minor, but is larger when the true cost of each is taken into account.

Before discussing secured and unsecured car loans in more detail, let’s first have a look at the various workings that determine the cost of your loan and of your monthly repayments. The cost of the car finance package is the total you repay less the loan amount borrowed. Hence, let’s say you are repaying $20,000 at 12% interest rate over 36 months; you will repay at the rate of $664.29 per month.  That would total a repayment of $23,914.44, and the cost of the loan would be $3,914.44 plus any set-up or administration fees.  A car finance calculator will enable you to work this out for yourself.

An substitute to a car finance would be car hire purchase (HP), where you hire the car over the repayment period and get the title to the motor car with your final payment. Until then the car belongs to the HP company.

However, most finances are either secured or unsecured, and not all finance companies offer unsecured or personal loans so let’s look at secured car finance first. Secured car loans is one whereby the lender offers the loan with the car as security.  If you fail to make payments, the lender can sell the car to recoup their money.  It is possible to get a secured car loan when the motor vehicle gets past a certain age, often 7 years, but the car finance term or loan term may be requested to be shorter than the standard 5 yearsor not at all by using your home or some other form of security. These however are not strictly classed as a car loan. normally the car is used as security over the loan.

If you prefer you can request no deposit car finance and have all on-road costs added to the amount financed. Options like registration , loan protection insurance for disability,death or unemploymentand comprehensive auto insurance as part of the financing deal.  Loan insurance makes sure that the loan is paid off in the event of your death during the loan period, and comprehensive car insurance is needed to make sure that the car is in good condition should it be needed to repay the finance in the event of you having your car repossessed.

This might look hard , but these are standard conditions for any secured loan, not only car loans. Secured car loans terms are from 1-7years, and the interest rate will be lower than that for an unsecured car finance where the financier charges extra to compensate for their added risk. As with any loan, a deposit will result in lower payments, or a shorter term, whichever you prefer.

Balloon payments could be an option on your finance package, which is like a deposit in reverse, payable at the end of the period.  This is popular by those whose income will increase over the period, and they will be in a better financial position to pay a lump sum in 3 – 5 years time. This  too  results in either a lower monthly repayment or a shorter repayment term.

If you are buying a used motor vehicle, your car loans intererst rates can be priced very differentlyaccording to the finance company and the age of your car. Many will charge higher loan rates, and the current credit crisis has changed the outlook of many lenders to unsecured car loans in particular. Many no longer offer unsecured car finance due to the increased risk in the current economic climate.

However, they are still available, and some car loan brokers can ensure you get the best unsecured car loan available. In addition to the interest rate on such loans, you should also evaluate the fees charged, since they can involve a considerable outlay for you before you get the loan.

The key differences between secured and unsecured car finance, therefore, can be summed up as:

Secured car finance are cheaper to repay, with normally lower rates.

You need to have full comprehensive car insurance with all secured car loans, while unsecured financing does not.

Both loans could require deathinsurance cover for the finance, but secured car finance packages are more likely to.

You can sometimes include comprehensive insurance, registration and other costs in the secured loan, but with an unsecured car loan you must include the the costs on top of the amount borrowed.

Fees for unsecured car loans can be significantly higher than for secured car loans.

Not all finance companies will offer unsecured auto loans.

There few doubts that if your vehicle is young enough to be given a loan with the car as colateral, then that should be your option.  You might be able to arrange a secured loan for an older vehicle with your residential home as security, but you will have to make sure to maintain the payments since lenders are becoming unsympathetic in the current economic crissis.