# Legal Structure **SPVs** - Borrowers are required to create a SPV to pledge the assets for availing the loan, the SPV holds the legal recourse in case of default. The SPV creates a legal agreement with Borrowers. \ \ Every lending pool on Qiro marketplace has a legal entity tied to it i.e SPV or Special purpose vehicle. \ \ **What is SPV ?**\ A Special Purpose Vehicle (SPV) is an independent legal entity. It has its own assets and liabilities, as well as its own legal status. Usually, SPVs are created for a specific objective, often to isolate financial risk. As an SPV is a separate legal entity, it carries even if its parent company goes bankrupt. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.qiro.fi/qiro-marketplace-product-guide/legal-structure.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.