Facility

20:54 Aug 30, 2015 

Managing General Agencies (MGA) are not handling loans but insurance contracts, that bit is clarified; still not very clear what is the exact nature of these "facilities"; are there any clues in the rest of the text?

20:45 Aug 30, 2015 

Maybe more context will be helpful. This is a document which describes conflicts of interests + ways to handle them:

"How the conflict might arise
XY operates various facilities in the form of lineslips, binding authorities, programmes or Managing General Agencies (MGA).
Conflicts of interest can arise as a result of XY using a facility to satisfy a client’s requirements, whilst it is simultaneously obligated to carriers participating in the facility for which it performs various functions."

20:40 Aug 30, 2015 

I'm not sure what would be the best translation, but here "facility" describes is some kind of loan/credit arrangement, where a loan/possibility to borrow money is made available up to a certain limit.

also: "it is simultaneously obligated to carriers participating in the facility for which it performs various functions" means it is some kind of syndicated loan, where XY acts as agent for the syndicate, so the "conflict of interest" arise when this agent XY ends up representing both the creditors and the borrower.

to be 100% sure of the meaning, it would be useful to know of what kind are "client’s requirements"? Financial requirements - as it sounds most likely, or related to insurance or transport?