Post-completion phase in loan transactions
Post-completion phase in loan transactions

The following Banking & Finance guidance note provides comprehensive and up to date legal information covering:

  • Post-completion phase in loan transactions
  • Timing
  • What happens during this phase?
  • Key tasks for lawyers within this phase
  • Who does what?

Timing

This phase of a loan transaction occurs after completion. It should be a short phase which is completed as soon as possible but can often take longer than expected.

What happens during this phase?

There are various steps that may be required after completion of a loan transaction, some are legal in nature and some are administrative.

Secured transactions

Once security documents are executed, in many cases it will be necessary to undertake further steps to 'perfect' the security. Perfection is the means by which security is made enforceable against certain third parties (but not necessarily all third parties) (see Why is it necessary to perfect security?).

Perfection can

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