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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
Introduction to fund finance—capital call facilitiesThis Practice Note discusses:•what is meant by capital call facilities, NAV, or asset backed...
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Produced in partnership with Leon Stephenson of Reed Smith 19th May
Practice notes
Increased costsThis Practice Note considers the costs that a lender will incur when providing funding to a borrower and the steps that it will take...
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19th May
Practice notes
Perfecting securityIP 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
Synthetic securitisationsWhat is a securitisation?Securitisation is a technique used to finance the ownership or sale of types of assets that would...
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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
Practice notes
Derivatives—ISDA documentation frameworkThe International Swaps and Derivatives Association, Inc. (ISDA) is an association for participants in the...
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19th May
Practice notes
The facility agentThis Practice Note covers the duties and role of the facility agent (defined in the Loan Market Association (LMA) documentation as...
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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
Transferring a loan by equitable assignmentAssignment is a means by which a lender can transfer its interest in a loan to another lender.For an...
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19th May
Precedents
[TO BE PRINTED ON THE HEADED PAPER OF THE LENDER][insert name and address of borrower][insert date]Dear [insert full name of borrower]We offer to...
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19th May
Practice notes
Loan Market Association (LMA)—news on documentation [Archived]This Practice Note is an archive of news from the Loan Market Association (LMA) on LMA...
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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

Most recent Trade and commodity finance content

Practice notes
The Bribery Act 2010—an introductory guideThe Bribery Act 2010 (BA 2010) was passed to ensure the UK’s compliance with the Organisation for Economic...
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Produced in partnership with Joanne Kane of Carmelite Chambers 20th Aug
Practice notes
The effect of sanctions on loan agreementsThis Practice Note looks at:•issues that sanctions can pose on lending transactions•the key provisions of...
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20th Aug
Practice notes
Understanding the sanctions regime—a guide for businessesThis Practice Note is intended for commercial organisations in the UK. It explains how the...
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13th Aug
Practice notes
Trade and financial sanctions offences, penalties, investigations and enforcement—a guide for businessesSanctions are restrictions on financial,...
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Produced in partnership with Eve Giles of Allen & Overy LLP, Diana Czugler of Allen & Overy LLP, Hannah Pye of Allen & Overy LLP and Jonathan Benson of Allen & Overy LLP 13th Aug
Practice notes
The EU and US Sanctions RegimesThis Practice Note considers:•EU sanctions•sanctions in the US, and•the similarities and differences between the EU and...
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13th Aug
Practice notes
When can a commission be a bribe?All commissions constitute the giving of a financial advantage, although they will not necessarily be...
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Produced in partnership with Richard Furlong of Carmelite Chambers 11th Aug
Practice notes
Trade sanctions—an introductionWhat are trade sanctions?The UK uses sanctions to fulfil a range of purposes, including supporting foreign policy and...
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Produced in partnership with Richard Tauwhare MVO MIExCP 11th Aug
Q&As
Does section 233B of the Insolvency Act 1986 prevent a supplier from calling on a parent company guarantee (or other security) which is triggered by...
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Produced in partnership with Ryan Hocking of Gatehouse Chambers 11th Aug
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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10th Aug
Practice notes
On demand guarantees and bondsCoronavirus (COVID-19): The ICC has issued a guidance paper on the impact of COVID-19 on trade finance transactions...
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10th Aug
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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10th Aug
Practice notes
The OECD Arrangement on Officially Supported Export CreditsThe Organisation for Economic Co-operation and Development (OECD) is an international...
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10th Aug
Practice notes
Prepayment finance—taking securityPrepayment finance structures are based on two credit agreements:•a prepayment contract (the 'Prepayment Contract')...
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Produced in partnership with Dentons 10th Aug
Practice notes
The Export Credits Guarantee Department—ECGDCoronavirus (COVID-19): For information on the implications of coronavirus on export credit agency finance...
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10th Aug
Practice notes
Bills of exchange—structure and partiesBills of exchange are negotiable instruments that represent an unconditional promise by one party to pay...
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Produced in partnership with Ed Bellamy, Marta Bishop and Jad Hussain of Paul Hastings (Europe) LLP 10th Aug
Practice notes
Use of insurance in trade and commodity finance transactionsCoronavirus (COVID 19): HM Treasury announced on 13 May 2020 that businesses with supply...
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Produced in partnership with Sullivan 10th Aug
Practice notes
Distinguishing between lending against the security of receivables and purchasing receivablesThis Practice Note gives a brief overview of the key...
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Produced in partnership with DLA Piper 10th Aug
Practice notes
Pre-export finance—taking securityPXF facilities are usually secured by:•security over the borrower/producer’s rights under a long term ‘offtake...
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Produced in partnership with Dentons 10th Aug
Practice notes
Introduction to trade financeCoronavirus (COVID-19): For information on the implications of coronavirus on trade and commodity finance transactions,...
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Produced in partnership with Sullivan 10th Aug
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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10th Aug

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