The following Banking & Finance guidance note provides comprehensive and up to date legal information covering:
The lender's lawyers usually co-ordinate the execution of the finance documents either through a physical signing meeting or a virtual signing. The borrower's lawyers might be required to assist with the execution of the finance documents (or any other transaction documents requiring execution) by their clients.
In many transactions, the documents will be executed at a signing or completion meeting. The lender's lawyers will co-ordinate the process.
The lender's lawyers will be responsible for co-ordinating the execution versions of the finance documents and making them available to all parties for execution. It is important to check that:
all of the documents which are to be executed are printed off
the final agreed form of each document is printed out—it can be helpful to check the individual identification number and version number of each document to make sure that the correct version has been located
enough copies of each document are printed—it is usual to print one copy per party but it is important to bear in mind whether any extra original copies are required for registration purposes
Different formalities apply to the execution of documents depending on:
the nature of the document being executed, and
the entity executing the document
The lender's lawyers will check that the documents have been executed in the appropriate form
**excludes LexisPSL Practice Compliance, Practice Management and Risk and Compliance. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
Take a free trial
0330 161 1234