Exhibit 10.48

CERTIFICATE AND ACKNOWLEDGMENT

BY GUARANTORS

 

I, Derek Schneideman . . . . . . . . . . . . . . . . . . . . . . . . . . .
(“Company Officer”) of IA Global, Inc., certify as follows:

1.

I am the CEO IA Golbal, Inc ("Borrower") and am authorised to make this
declaration.

2.

The documents (“Transaction Documents”) specified below which were given to me
in relation to the loan by Frontier Mortgages Pty Ltd ACN 126 509 322 (“Lender”)
to the Borrower:

 

(a)

Loan agreement;

 

(b)

Share mortgage over the Borrower’s shares in Australian Secured Financial
Limited ACN 120 340 507.

3.

I confirm and acknowledge that:

 

(a)

I have received the Transaction Documents;

 

(b)

I have been given an opportunity to read and understand the Transaction
Documents;

 

(c)

I was told by the Lender and Davis Lawyers, the lawyers for the Lender, to
obtain independent legal advice in relation to the transaction from a solicitor
of our choice;

 

(d)

I and the Borrower have declined the opportunity to obtain independent legal
advice in relation to the Transaction Documents and agree that I and the
Borrower understands the legal and practical effect of the Transaction
Documents, even though we have not obtained independent legal advice; and

 

(e)

I understand the consequences of any default by the Borrower or us under the
Transaction Documents.

4.

I have read and understood this acknowledgment before the Transaction Documents
were executed by the Borrower and understand that the Lender will rely on this
certificate and acknowledgment being correctly read understood and executed
before executing the Transaction Documents.

 

Dated this  

21st day of  

December  

2007.

 

/s/ Derek Schneideman

. . . . . . . . . . . . . . . . . . . . .

Name:

 

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