Central URA on k1malls OVERVIEW

07/17/2020
by Joseph R K Eshun


Central URA on K1malls Overview


This Overview may be altered or updated at any time.


This Overview has been prepared to advance a general understanding about Central Ura. The term Ura is an acronym derived from Universal Receivables Assignment of Resource Mobilization Inc (“RMI”) Receivables in Units which term was adopted on 11/14/14 by RMI’s board resolution to be the name of the private money drawn on RMI reserves. Central Ura was originally intended to be a utility for assignment of RMI Receivables, but the sheer amount of the Receivables apportioned transformed Central Ura into a complementary currency introduced by RMI and drawn on RMI reserves.

NOTICE

The information set forth in this Overview may not be exhaustive and does not imply any elements of a contractual relationship or constitute any relations with readers and distributors (“Users”) of this Overview. The sole purpose of this Overview is to provide relevant and reasonable information on Receivables Assignment.

This Overview includes information from several sources (all sources are recognized). It has been prepared for general guidance only and does not constitute professional advice. Users should not act upon the information contained in this Overview without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this Overview, and, to the extent permitted by law, the Author does not accept or assume any liability, responsibility, or duty of care for any consequences of user or anyone else acting, or refraining to act, in reliance on the information contained in this Overview or for any decision based on it.

The information contained in this Overview may from time to time be translated into other languages or used during written or verbal communications with users. During such translation or communication some of the information contained in this Overview may be lost, corrupted, or misrepresented. The accuracy of such alternative communications cannot be guaranteed. In the event of any conflicts or inconsistencies between such translations and communications and this official English language Overview, the information contained in this English language original Overview shall prevail.

1. Introduction


Central Ura is Complementary Currency, deriving its value and authority from United States (U.S.) dollar-based Receivables (“Reference Assets”) owned and held by Resource Mobilization Inc, its successors, and assigns (“RMI”). Central Ura originates largely from the claims prepared at the instance of RMI by professional appraisers who traced, verified, quantified, and recorded in the appraisal report the total amounts due and payable to the creditor by the debtors in the Receivables. Receivables are defined in the United Nations Convention on Assignment of Receivables in International Trade (“Convention”) as “all or part of or an undivided interest in the assignor’s contractual right to payment of monetary sum”.


Apportioning of RMI Receivables into Central Ura became necessary following several failed efforts to convert RMI Receivables into other forms of money either by original account debtor paying or selling Receivables in the Receivables Assignment Market as envisaged by the Convention. Central Ura is therefore a response to (i) persistent unmet demand for receivables financing, (ii) shortage of capital in international trade as envisaged by the UN Convention, and (iii) falling trust in fiat stability in many jurisdictions, as indicated by the history of fiat and the 2007/8 financial crisis in the United States.

Central Ura is privately controlled money that (i) has intrinsic value because as at 11/14/2014 when RMI existing Receivables (“Receivables”) were apportioned into Central Ura, its value equals the same units in Receivables (ii) has a stable store of value derived from the Reference Assets, (iii) worth equal or more than a U.S. dollar, and easy to exchange. Ura empowers its core functions of medium of exchange, unit of account, store of value, and standard of deferred payment making it good for (i) payment of goods and services, and (ii) settlement of financial transactions and debt including taxes. Central Ura is the solution to the shortcomings of fiat and other forms of money. Ura powers the transfer of value from on entity to another without legal, technical, or operational complications associated with traditional receivables assignment methods. It does this by implementing the objectives of the Convention in a simplified form, extending the Convention benefits to all, providing society with another source of money and credit for projects complementing other forms of money.

Central Ura is a complementary currency, Digital Ura is the digital, electronic, or virtual representation of physical Central Ura, it is not a cryptocurrency, a security or collective investment scheme and does not grant its holders any voting or ownership rights, any return on investment, and any profit or passive income from its holding.

2. Central Ura on K1malls Platform

K1Malls platforms (“K1malls”) distributes Central Ura digitally (“Digitized Ura” or “Digital Ura”). Digital Ura distributed and/or exchanged on K1Malls is derived from Central Ura, it is counterfeit free and duplicate free.

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