Signing and completion in loan transactions
Signing and completion in loan transactions

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

  • Signing and completion in loan transactions
  • Timing
  • What happens during signing and completion?
  • Key tasks for lawyers
  • Who does what?

Timing

Signing and completion are important milestones in a loan transaction. There are two possibilities as to their timing:

  1. signing and completion take place on the same day—in such cases, all the conditions precedent to funding will need to be satisfied (or have been waived) before signing and completion can take place

  2. there is a gap between signing and completion—this allows the parties to commit to the deal on signing but leave themselves time between signing and completion to satisfy any outstanding conditions precedent to funding