Letters of credit

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Practice notes
Term Loan B facilitiesThis Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in...
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Produced in partnership with Carlo de Vito Piscicelli of Cleary Gottlieb Steen & Hamilton 19th May
Practice notes
What is securitisation?Securitisation is a financing techniqueSecuritisation is a technique used to finance the ownership or sale of types of assets...
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19th May
Practice notes
Exchange traded derivativesIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into...
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19th May
Practice notes
Structure of a facility agreementThis Practice Note discusses the usual components of a bilateral, committed facility agreement to a corporate...
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19th May
Practice notes
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...
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19th May
Practice notes
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...
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19th May
Practice notes
Perfecting security over aircraft and registering security on the UK Register of Aircraft MortgagesIP COMPLETION DAY: 11pm (GMT) on 31 December 2020...
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19th May
Precedents
[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...
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19th May
Practice notes
European PIK loan facilitiesThis Practice Note provides information on European PIK loan facilities (PIK facilities). It discusses:•the key features...
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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 arrangementsOne of the features used to categorise loans is the number of lenders involved. A loan involving one lender...
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19th May
Practice notes
Pre-export finance—key terms in the facility agreementPre-export finance (PXF) is an established structure used to provide finance to producers of...
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Produced in partnership with Dentons 19th May
Precedents
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...
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19th May
Practice notes
Crystallisation of floating chargesThe key feature of a floating charge is that, until it crystallises, the chargor is entitled to deal with the...
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19th May
Precedents
[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...
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19th May
Practice notes
Direct agreements in project finance transactionsWhat is a direct agreement?Direct agreements are very common in project finance transactions. A...
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19th May

Most recent Letters of credit content

Practice notes
Coronavirus (COVID-19)—implications for trade and commodity finance transactionsThis Practice Note sets out the key issues relevant to trade and...
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23rd Jun
Q&As
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...
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5th Jun
Precedents
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...
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5th Jun
Practice notes
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...
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4th Jun
Practice notes
Commercial letters of credit—structure and partiesThe simplest form of a commercial letter of credit is an undertaking by a bank to pay the...
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4th Jun
Practice notes
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...
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4th Jun
Practice notes
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...
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4th Jun
Practice notes
Characteristics of commercial letters of creditCommercial letters of credit (also known as traditional letters of credit or L/Cs) are used in relation...
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4th Jun
Practice notes
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...
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4th Jun

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