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Bills of exchange—structure and partiesBills of exchange are negotiable instruments that represent an unconditional promise by one party to pay...
Term Loan B facilitiesThis Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in...
Invoice discounting and factoringThe popularity of financing business through the invoice discounting and factoring of receivables has grown...
Common financial covenantsThis Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum...
Does a guarantee have to be executed as a deed?No, a guarantee does not have to be executed as a deed. A guarantee can be executed as a deed or as an agreement in English law.A guarantee does have to be in writing under section 4 of the Statute of Frauds 1677.However, a guarantee is often executed
Guarantor rights and how to defer them in guarantee documentation—no competition clausesGuarantees are a contractual arrangement where one party (the guarantor) agrees to answer for the liability of another party (the principal) to another party (the guaranteed party).Guarantors have various rights
When can a guarantor voluntarily revoke its liability under a guarantee?Guarantees are a contractual arrangement where one party (the guarantor) agrees to answer for the liability of another party (the principal or principal obligor) to another party (the creditor/lender or guaranteed
Formalities for creating a guaranteeGuarantees are typically used in banking transactions as a form of collateral for a debt. For information on the characteristics of guarantees, see Practice Note: Guarantees.This Practice Note examines:•contractual formalities involved in creating a
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