MIRA INFORM REPORT
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Report Date : |
21.04.2011 |
IDENTIFICATION DETAILS
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Name : |
JEWEL SOURCE INC |
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Registered Office : |
15 West 47th St Ste 404 New York, New York, 10036 |
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Country : |
United States |
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Date of Incorporation : |
24.09.1997 |
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Legal Form : |
Private Company |
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Line of Business : |
Jewelry |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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United States |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GEOPOLITICS - UNITED STATES
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
IDENTIFICATION
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Ordered as: |
Jewel Source Inc |
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Address in the order: |
45 West 45th Street 11th Floor, New York NY 10036, U.S. |
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Legal Name: |
Jewel Source Inc |
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Legal Address |
15 West 47th St Ste 404 New York, New York, 10036, U.S. |
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Operative Address |
45W 45th Street 11th Floor New York NY
10036 , U.S. |
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Telephone: |
+1 212-391-0312 |
ID : |
2183542 |
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Fax: |
+1 212-391-0312 |
Legal Form: |
Private Company |
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Email: |
Registered in: |
New York |
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Website: |
Date Created: |
NA |
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Manager: |
Sarju Shah, President |
Date Incorporated: |
September 24, 1997 |
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Staff: |
10 |
Stock: |
200 |
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Value: |
No Par Value |
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Activity: |
Jewelry |
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BANKS
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Name of the Bank |
Bank of America |
BUSINESS
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PRINCIPAL ACTIVITY |
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The company is a wholesale jewelry. |
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Products/Services description: |
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Rings Earrings Bracelets Pendants |
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Sales are: |
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Wholesale |
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Clients: |
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Various industries |
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Operations area: |
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National |
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The company imports from Asia |
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The company does not export |
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The subject employs 10 employee(s) |
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PAYMENTS |
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regular |
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LOCATION |
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Headquarters |
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The company is headquartered at 45 W 45th Street New York, NY 10036-4602, U.S. |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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This is a privately held company. Despite our long searches it has not
been possible to identify the shareholders |
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Management: |
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Sarju Shah, President |
Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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We have contacted the company but refused to provide us any financial
data on grounds of confidentiality. |
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However our financial sources could provide us with the following
data. Those figures are estimates provided by confidential banking and
financial institutions working with the company. |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
1.200.000 |
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Legal Fillings |
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There are 18 UCC's files listed with the
Secretary of State of New York. There are no legal filings listed with the
District Court. THE COMPANY IS NOT LISTED ON THE OFAC
LIST.* For information: * The Specially Designated Nationals (SDN)
List is a publication of OFAC which lists individuals and organizations with whom
United States citizens and permanent residents are prohibited from doing
business. ** The Uniform Commercial Code (UCC) is
one of a number of uniform acts that have been promulgated in conjunction
with efforts to harmonize the law of sales and other commercial transactions
in all 50 states within the United States of America. The UCC deals primarily with transactions
involving personal property (movable property), not real property (immovable
property). It allows a creditor to notify other creditors
about a debtor’s assets used as collateral for a secured transaction by
filing a public notice (financing statement) with a particular filing office.
The Uniform Commercial Code Bureau files
and maintains on financial obligations (including IRS liens) incurred by
individuals (in business as a sole proprietor), business entities and
corporations. |
Rating
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Local credit bureau gave a Correct credit
rate. The company is in Good Standing. This means
that all local and federal taxes were paid on due date. |
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Final Opinion |
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This is a small sized company with
experience in this industry. The UCC found demonstrate relative
creditworthiness from the financial institution. There were no legal fillings found against
the company or its legal representatives, which makes it a more reliable
company. We believe that a small credit line can be
granted. |
SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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APPENDIX
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Person Interviewed |
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Accountant representative |
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Comments |
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We contacted the company and asked us to send them an email so they can
respond our questions. They wouldn’t respond any of them by phone. We haven’t
received any answer yet. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.38 |
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UK Pound |
1 |
Rs.72.56 |
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Euro |
1 |
Rs.63.92 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.