The following Banking & Finance practice note provides comprehensive and up to date legal information covering:
This Practice Note explains the features of three common types of loan facility:
term loans, and
revolving credit facilities (RCFs)
It also considers the advantages and disadvantages of each type of loan facility from a borrower's perspective.
An overdraft is the most common form of bank lending and is used to help solve short-term, day-to-day cash flow issues. As such, an overdraft facility is sometimes referred to as a 'working capital facility'.
An overdraft is a loan—it enables the borrower to borrow on a designated account up to a specified amount.
An overdraft can be 'planned' or 'authorised' (ie expressly agreed) or 'unplanned' or 'unauthorised' (ie arise from an implied request for an overdraft arising from the borrower giving a payment instruction that would take it beyond its agreed overdraft limit (if any)). The lender does not have to let the borrower become overdrawn.
The key features of an overdraft are that it:
is generally uncommitted ie it can be withdrawn by the lender at any time
is repayable on demand ie the lender can require that it is repaid immediately, even if the borrower has not defaulted in any way, and
has interest payable on the amount overdrawn—interest is calculated at the close of each business day and is based on the closing balance of the designated account
The lender will usually review the status of
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The Public Private Partnership (PPP) models are a popular way for governments to involve private investment, expertise and risk in procuring infrastructure, with the potential to deliver a project more efficiently and economically. One of the most popular PPP models for procuring infrastructure
This Practice Note provides guidance on the interpretation and application of the relevant provisions of the CPR. Depending on the court in which your matter is proceeding, you may also need to be mindful of additional provisions—see further below.You should also consider if the proceedings will be
This Practice Note covers the legal framework and regulatory guidance to be considered in determining whether an arrangement constitutes a contract of insurance and the possible consequences of carrying on activities relating to a contract of insurance without the requisite regulatory permissionsThe
Broadly, the doctrine of overreaching enables purchasers (which includes tenants and mortgagees) in good faith for money or money’s worth to rely solely on the legal title. In the case of registered land, this means the entries entered on the register of title, as it records ownership of the legal
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