The following Banking & Finance practice note provides comprehensive and up to date legal information covering:
Loan transactions typically start with the term sheet and mandate phase. During this phase the parties to a potential transaction will enter into confidentiality arrangements, agree the key terms of the transaction and establish their roles in the deal.
The length of this phase will vary considerably, depending on the complexity and nature of the deal.
At the beginning of a transaction the lender and the borrower will enter into confidentiality arrangements. Information will then be provided to the lender by the borrower so that the lender can analyse the risk of len
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Coronavirus (COVID-19): The guidance detailing normal practice set out in this Practice Note may be affected by measures concerning process and procedure in the civil courts that have been introduced as a result of the coronavirus (COVID-19) pandemic. For guidance, see Practice Note: Coronavirus
You may apply simplified customer due diligence (SDD) measures in relation to particular business relationships or transactions which you determine present a low risk of money laundering or terrorist financing, having taken into account:•your organisation-wide risk assessment—see Practice Note:
Who is a fiduciary?There is no comprehensive list of the relationships which give rise to the existence of fiduciary duties under common law. Some relationships are automatically fiduciary, eg those between trustee and beneficiary, solicitor and client, principal and agent, business partner and
Overlapping insurance policesThere are various reasons why an insured may end up with overlapping insurance cover, whether deliberately or otherwise.Examples include the situation where the insured takes the benefit of other insurance arranged by another party or where, in the commercial world, risk
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