Letters of credit

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ECB seeks to assure data protection board over digital euro

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Banking and Finance weekly highlights—22 July 2021

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Payment Systems Regulator to prioritise crypto-assets

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How UK Binance ban is putting cryptocurrency on notice

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Bills of exchange—structure and parties

Bills of exchange—structure and partiesBills of exchange are negotiable instruments that represent an unconditional promise by one party to pay...

Common financial covenants

Common financial covenantsThis Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum...

Incremental debt flexibility or accordion features

Incremental debt flexibility or accordion featuresWhat are incremental facilities?An incremental facility is feature included in a credit agreement...

Intercreditor agreement—key provisions

Intercreditor agreement—key provisionsThis Practice Note provides an introduction to intercreditor agreements and their key provisions. This Practice...

Q&As

A legal charge over property was registered at Companies House. Form MR01 did not say that there was a negative pledge, when there was actually a negative pledge in the document. Form MR01 with the mistake was approved and added to the register at Companies House. The charge was registered correctly with the Land Registry. Does the Companies House error need to be corrected by court order or is the charge enforceable with the error?

A legal charge over property was registered at Companies House. Form MR01 did not say that there was a negative pledge, when there was actually a...

19th May

Practice notes

Term Loan B facilities

Term Loan B facilitiesThis Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in...

Produced in partnership with Carlo de Vito Piscicelli of Cleary Gottlieb Steen & Hamilton 19th May

Practice notes

What is securitisation?

What is securitisation?Securitisation is a financing techniqueSecuritisation is a technique used to finance the ownership or sale of types of assets...

19th May

Practice notes

Exchange traded derivatives

Exchange traded derivativesIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into...

19th May

Practice notes

Structure of a facility agreement

Structure of a facility agreementThis Practice Note discusses the usual components of a bilateral, committed facility agreement to a corporate...

19th May

Practice notes

Transferring a loan by sub-participation

Transferring a loan by sub-participationSub-participation is a means by which a lender can transfer its risk in a loan to another lender. For an...

19th May

Practice notes

Key issues in loan transfers

Key issues in loan transfers There are times when a lender might want to get back some of the money it has lent to a borrower before the borrower is...

19th May

Practice notes

Perfecting security over aircraft and registering security on the UK Register of Aircraft Mortgages

Perfecting security over aircraft and registering security on the UK Register of Aircraft MortgagesIP COMPLETION DAY: 11pm (GMT) on 31 December 2020...

19th May

Precedents

Reservation of rights letter: breach of bilateral facility agreement

[To be printed on the headed paper of the lender][insert date]To:[insert name and address of borrower]Dear [insert full name of borrower]1We refer to...

19th May

Practice notes

European PIK loan facilities

European PIK loan facilitiesThis Practice Note provides information on European PIK loan facilities (PIK facilities). It discusses:•the key features...

Produced in partnership with Susan Whitehead, Consultant at Hogan Lovells and Penny Angell, Partner at Hogan Lovells 19th May

Practice notes

Bilateral, syndicated and club arrangements

Bilateral, syndicated and club arrangementsOne of the features used to categorise loans is the number of lenders involved. A loan involving one lender...

19th May

Practice notes

Pre-export finance—key terms in the facility agreement

Pre-export finance—key terms in the facility agreementPre-export finance (PXF) is an established structure used to provide finance to producers of...

Produced in partnership with Dentons 19th May

Precedents

Guarantee and indemnity: cross guarantee from group companies—bilateral—all monies

This Deed of guarantee and indemnity is made on [insert day and month] 20[insert year]Parties1[Insert name of Guarantor], a company incorporated in...

19th May

Practice notes

Crystallisation of floating charges

Crystallisation of floating chargesThe key feature of a floating charge is that, until it crystallises, the chargor is entitled to deal with the...

19th May

Precedents

Overdraft facility letter: single company borrower—bilateral—with or without a guarantee

[To be printed on the headed paper of the lender][insert date]To:[insert name and address of borrower]Dear [insert name of borrower],We are pleased to...

19th May

Practice notes

Direct agreements in project finance transactions

Direct agreements in project finance transactionsWhat is a direct agreement?Direct agreements are very common in project finance transactions. A...

19th May

Sustainable Business Toolkit

Most recent Letters of credit content

Practice notes

Coronavirus (COVID-19)—implications for trade and commodity finance transactions

Coronavirus (COVID-19)—implications for trade and commodity finance transactionsThis Practice Note sets out the key issues relevant to trade and...

23rd Jun

COVID-19

Q&As

What is the difference between a standby letter of credit and a letter of credit?

What is the difference between a standby letter of credit and a letter of credit?This Q&A considers the differences between a standby letter of credit...

5th Jun

Precedents

Standby letter of credit (irrevocable)

Standby letter of credit (irrevocable)[TO BE PRINTED ON THE HEADED PAPER OF THE ISSUING BANK]To:[insert name and address of beneficiary]Date: [insert...

5th Jun

Practice notes

Standby letters of credit—standard rules and practices

Standby letters of credit—standard rules and practicesCoronavirus (COVID-19): The ICC has issued a guidance paper on the impact of COVID-19 on trade...

4th Jun

Practice notes

Commercial letters of credit—structure and parties

Commercial letters of credit—structure and partiesThe simplest form of a commercial letter of credit is an undertaking by a bank to pay the...

4th Jun

Practice notes

ICC Standard rules and practices for commercial letters of credit—UCP, eUCP and ISBP

ICC Standard rules and practices for commercial letters of credit—UCP, eUCP and ISBPCoronavirus (COVID-19): The ICC has issued a guidance paper on the...

4th Jun

Practice notes

Types of commercial letters of credit

Types of commercial letters of creditCommercial letters of credit (also known as traditional letters of credit or L/Cs) are used as a method of...

4th Jun

Practice notes

Characteristics of commercial letters of credit

Characteristics of commercial letters of creditCommercial letters of credit (also known as traditional letters of credit or L/Cs) are used in relation...

4th Jun

Practice notes

Characteristics of standby letters of credit

Characteristics of standby letters of creditStandby letters of credit are a type of letter of credit.The common feature of all letters of credit is an...

4th Jun

Letters of credit

View Banking & Finance by content type:

Latest Banking & Finance News

ECB seeks to assure data protection board over digital euro

Banking and Finance weekly highlights—22 July 2021

Payment Systems Regulator to prioritise crypto-assets

How UK Binance ban is putting cryptocurrency on notice

Featured Banking & Finance content

Bills of exchange—structure and parties

Common financial covenants

Incremental debt flexibility or accordion features

Intercreditor agreement—key provisions

Most recent Letters of credit content

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